Helsinki students shun student loans;
nine out of ten university students work
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Record-low interest rates have failed to encourage students at the University of Helsinki to apply for student loans. Fewer than one third of students at the university have taken out a loan to cover living expenses.
The situation has remained the same throughout the present decade.
"The greatest reason is uncertainty over the future. Students feel that not even a master’s degree will guarantee that they will get work", says Liisa Selvenius of the Student Union of the University of Helsinki (HYY).
Repayment of a student loan after graduation is seen as an unpleasant burden by some. For others, it is a matter of principle.
"People do not want to finance everyday life with borrowed money", Selvenius ponders.
A report published by HYY on Monday shows that students at the University of Helsinki prefer to work their way through school, with 90% of students taking at least occasional employment to earn extra money.
Two thirds of students do summer work, and nearly 20% go to work full time.
Students see work as a natural part of studying, especially as work experience is seen as a merit after graduation.
In addition to work, studies are financed from savings. Four out of five students get financial support from relatives.
The report indicates a pattern for an average student’s studies.
In the first phase students tend to concentrate on lectures and exam books, while working part time at a fast food restaurant or warehouse, or other jobs that are not related to the field of study.
Work at this stage is seen primarily as a way to earn money to supplement student grants.
As time goes on, work tends to become a more dominant part of a student’s life. In the final phases many students work practically full time, and he work itself is often related to the field of study.
Students of medicine, law, and pharmacy are in the best position to find work in their desired field. The situation is more difficult in the humanities.
Helsingin Sanomat
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| 13.9.2005 - TODAY |
 Helsinki students shun student loans;
nine out of ten university students work
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