High School Students Are Increasingly Indebted - The Union Is Calling for Action from the Government
According to the Finnish Student Union, government changes to support welfare are increasing the indebtedness of high school students.
The Finnish Student Union has raised concerns about the increasing levels of debt among high school students due to recent changes in government support programs. In the last school year, 2,663 high schoolers borrowed study loans, leading to an average debt of 7,000 euros for those who graduated. The union's president, Pietari Meriläinen, highlighted that the closure of high schools in smaller municipalities further exacerbates the risk of youth accruing debt, calling for adjustments in study grants and income limits for guardians.
The report indicates that despite a decrease in the total number of high school students taking loans, the average debt per individual has risen. This indicates that while fewer students are borrowing, those who do are taking on larger loans. Notably, the introduction of free upper secondary education in 2021 has contributed to a slight reduction in educational debt among younger students, suggesting that accessibility measures can have positive effects on financial pressures faced by families.
The Finnish Student Union advocates for increased study grants and the lifting of income thresholds for parents, emphasizing that these measures are necessary to alleviate the financial burdens on students. As the government continues to navigate education funding and support, the implications for future generations of students and their financial well-being remain critical.