Include student loans in national debt register, says BKR chief

Information about student loans should be recorded in the national debt register BKR, the organisation’s director Peter van den Bosch says in an interview with the Financieele Dagblad.

This would give loan companies better insight into the financial position of new graduates which might, for example, have an impact on applications for a mortgage, Van den Bosch told the paper.
Van den Bosch told the paper he is extremely concerned about the mounting debts which students have, which will be made worse if the government goes head with plans to scrap the basic student grant as well.
‘Youngsters form a vulnerable group,’ he said. ‘The crisis means they will have to accept lower salaries and if they don’t mention their debt when, for example, applying for a mortgage, they could end up in severe financial trouble.’
A spokesman for the education ministry said there is no similarity between a student loan and a bank debt. Student loans carry modest interest rates and only need to be repaid when the person’s finances allow it, a spokesman pointed out.
The BKR lists credit agreements with banks, mortgage providers and other official credit agencies.
According to family spending institute Nibud, students will graduate with an average debt of some €17,500.

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