Japan is to bring in a new wage-adjusted government loans programme, to be launched in monthly , to help lighten the burden of student loan payments. It is expected to fix monthly repayments in proportion to the individual's income, pinning repayments at 30% of the April 2017 wage. However, some experts are criticising this new wage-adjusted repayment system, saying it focuses more on recovering the loans than providing a better service. Iwashige is a founder of Shogakukin Mondai Taisaku Zenkoku Kaigi (National Conference of Scholarship Disputes), a group established in 2013 to provide support and advice to students and former students struggling to pay off their loans. Mounting student debt in Japan is becoming an increasing concern. A recent report shows that 2.6 out of 333,000 people in Japan who attended university or college borrowed money from the government, and 333,000 people who still have outstanding student loans are delinquent with payments. Education worldwide accounts for 16% of the money spent by individuals, however, in Japan it accounts for 30% on average of household expenditures.
Japan is to bring in a new wage-adjusted government loans programme, to be launched in monthly , to help lighten the burden of student loan payments. It is expected to fix monthly repayments in proportion to the individual's income, pinning repayments at 30% of the April 2017 wage. However, some experts are criticising this new wage-adjusted repayment system, saying it focuses more on recovering the loans than providing a better service. Mounting student debt in Japan is becoming an increasing concern. A recent report shows that 2.6 out of 333,000 people in Japan who attended university or college borrowed money from the government, and 333,000 people who still have outstanding student loans are delinquent with payments. Education worldwide accounts for 16% of the money spent by individuals, however, in Japan it accounts for 30% on average of household expenditures.