Swedish universities and college do not charge any tuition fee from students but then also students have to pay huge amount of money towards their debts. Where an average US students have carry a debt of $24,000, Swedish students carry debts of $19,000 despite the free education systems. As per research, 85% of Swedish students graduate with debt, comparing to 50% in USA.
The main cost students need to bear is living cost, which is quite high comparing to other European as well as some western countries. Stockholm, the Swedish capital, ranks among the most expensive cities in the world. According to admission experts at Revataa Education, a study abroad consultant in Delhi, India, one main reason of this debt is, Swedish students carry out their expenses by themselves than depending on their parents. In Sweden, most of the people move out of their parental homes at young age. According to one study, only 2% of Swedish men live with their parents after the age of 30.
Although students carry a high amount of debts, the average monthly cost of carrying debts are quite cheap. As the loan repayment period is long too (25 years), students find it affordable and manageable to take loan to pay their college expenses.