Study debt repayment paused more often
In 2020, DUO was asked to pause repayment of student loans more than 66,000 times. This is 3% to 10% higher than in previous years. This was revealed in figures that HOP (Higher Education Press Agency) requested from DUO, the education executive agency. The reason for the increase is clear, given the economic damage caused by the corona crisis.
In total, former students are allocated five ‘joker years’: grace periods in which they may defer their repayment if they can’t spare the monthly payment for a while. They do not have to use whole years at a time, but may use them by the month.
While students sometimes lose their part-time jobs or can only work fewer hours, the loans up to and including August 2020 do not necessarily show a higher borrowing rate in the corona months than in previous months. (HOP, Bas Belleman)
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