11 minutes agoAmsterdam repays debts to city youths
Periskopi(6 years ago)
(6 years ago)The city of Amsterdam is taking over the debts of their youth as an attempt to free people who are willing to go to work or to get an education. The rise in borrowing among Dutch youth ʹ trend echoed elsewhere in Europe, including the United Kingdom, it says [...]
The rise in borrowing among Dutch youth has been echoed elsewhere across Europe, including the United Kingdom, it is said to be standing on their way, but according to the city's promotional project, a municipal bank will negotiate with creditors to buy their debts.
Creditors will be granted 750 euros as an incentive to pass the debt to the municipal bank. Young people will also be canceled if they are successfully involved in training or some educational program.
“Borghes cause a lot of stress. And in the case of young people, they often determine their future”, said Deputy Mayor O Amsterdam, Marjorie Moorman.
The majority of these youths were involved in various fields, and because of bad luck or ignorance and mismanagement, they found themselves in a situation where they could not get out without help. That's why we'll help them now so they can start a new start”.
The debt transfer project will begin in February. Each person in the scheme will be given a coach with whom to prepare a “roadmap”. The city believes that young people with unstable incomes often find it impossible to restructure their finances and make necessary re-payers.
According to official figures, more than a third of Amsterdam's youth between the ages of 18 and 34 are in debt.
The average student debt in the Netherlands has increased from 12,000 euros in 2015 to 13,000 in 2019. The number of individuals in student debt has also increased, increasing by 388.00, reaching 1.4 million.
