18 September 2018 • HOP, Bas Belleman
Even VVD youth says no to higher interest on student loans
The youths of the Dutch political parties VVD, CDA, D66 and ChristenUnie oppose the higher interest rates on student loans that the government has announced. “The government should not milk students dry.”
The four political youth organizations of the governing parties want the government to cancel the announced increase. They make their appeal together with student organisations ISO and LSVb, the youth department of trade union CNV and the National Youth Council.
The resistance of the JOVD (affiliated with the VVD) and the Young Democrats (of D66) is particularly striking. After all, their parent parties have abolished the basic grant, which has made studying thousands of euros more expensive. They did not resist that.
Do not milk students dry
“The JOVD believes it is perfectly normal to pay a personal contribution if you want to study, and that is why the JOVD supported the introduction of the student loan system”, says chairman Splinter Chabot in the joint press release. “But the government should not milk students dry.”
However, other organisations are targeting the new student loan system as well. “The introduction of the student loan system marked the start of the debt generation”, says Lotte Schipper of the CDJA. “From that moment on, education became unattainable and unaffordable for a large number of young people. “Increasing the interest rates will only exacerbate the problem.”
As of 2060, the higher interest rate should provide the country’s treasury with 226 million euros per year. Those who have a debt of 21,000 euros will be paying back 82 euros a month instead of 70 euros a month. That is if they can afford to pay back that amount.