Swedish Youth Facing Debt Disaster
Sweden’s youth are facing serious economic problems according to a new report to the Swedish government by the Swedish Consumer Agency and the Swedish Debt Enforcement Authority.
Due to a lack of housing in many Swedish cities, young Swedes are often forced to sub-let flats at inflated prices and the rules for student loans and housing benefit tend to discriminate against young people with jobs on the side according to the report.
The recent boom in easy credit deals is also leading them into a life of debt the agencies say. Over 130 000 young Swedes were reported to the Swedish Debt Enforcement Agency in 2007 for not paying off their debts, that’s up 20% compared to the year before, with much of the rise among those aged 18 and 19 years old.