Norway students suffer financial shortfall

The average student in Norway living off a Norwegian government study loan has a shortfall of approximately 3,500 kroner per month, says a survey.

The “Ung 2014” (“Young 2014”) survey is conducted by the Norwegian bank “Nordea”. Consumer economist Elin Reitan of Nordea said to “Finansavisen” (“The Finance Newspaper”) that she fears the trend may create a social class difference.

Reitan said: “There should be education for everyone in Norway, but it shows that only those getting economic support from home and/or a job can get higher education.”
Norwegian government student supports or loans are calculated for 10 months a year. Students are allowed to earn up to 150,000 NOK per annum before the Norwegian State Educational Loan Fund starts cutting support.
Leader of The National Union of Students in Norway, Anders Kvernmo Langset, said to “Finansavisen”, he is not opposed to students having a job beside their studies, but that bad money management could explain why so many students don't finish their studies.
42 percent of those beginning their studies in 2001/2002 didn't achieve their degrees 10 years later, Langset said.

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