Sweden stops chasing student loan fugitives
TT/The Local - [email protected]
Published: 19 Sep, 2007 CET.
Updated: Wed 19 Sep 2007 12:09 CET
The National Board of Student Aid (CSN) is to cease chasing debts owed by borrowers living in the United States and the United Kingdom.
Debt collection in these two countries is considered too expensive, Metro reports.
"It is costly and complicated to take legal action in the United States and England," CSN spokesman Ulf Ståhl told the newspaper.
Some 28,000 Swedes are thought to be hiding abroad to avoid repaying student loans with a combined value of 3.3 billion kronor ($500 million). Most of these are living either in the US or the UK.
"The debts remain, but at the moment we are not collecting them," said Ståhl.
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Debt collection in these two countries is considered too expensive, Metro reports.
"It is costly and complicated to take legal action in the United States and England," CSN spokesman Ulf Ståhl told the newspaper.
Some 28,000 Swedes are thought to be hiding abroad to avoid repaying student loans with a combined value of 3.3 billion kronor ($500 million). Most of these are living either in the US or the UK.
"The debts remain, but at the moment we are not collecting them," said Ståhl.
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