SEB: lower demand for student loans shows improved financial awareness

During the student loan application period, SEB is focusing on advising young people in their offices as well as at schools, where financial wisdom classes are again being held this year. According to the bank, the level of financial wisdom among young people has increased, which is evident in the decreased demand for student loans – loans are no longer being taken lightly.

Over the next three months, SEB will focus on providing information on student loans and financial literacy, helping young people to lay a solid foundation for their future. “There is no way to understate the importance of responsible loaning and day-to-day management of finances. As for the provision of practical knowledge on financial wisdom, SEB’s employees are planning to give classes on financial wisdom at schools in the autumn. Last year, SEB’s employees held nearly 200 financial wisdom classes at different Estonian basic schools and upper secondary schools. The schools were very happy with our initiative and are welcoming us back,” noted Triin Raudsepp, Head of SEB’s private client segment.

SEB will mainly be focusing on young people aged 18–25, also reminding them that the ISIC bank card includes several convenient functions. “In addition to daily banking transactions and online shopping, the card can be used to verify the academic status of the card holder anywhere in the world, granting discounts at thousands of locations within Estonia and abroad. As the ISIC card has a contactless chip, it can be used in a manner similar to the Ühiskaart or as a key to open doors at some universities. Making card payments with a contactless chip will become possible in 2017,” added Raudsepp.

More information on special offers for young people is available at www.seb.ee/noored. The site for young people gives advice on how to plan one’s finances as a student and provides practical information on the advantages of the ISIC card, Digital Coin Jar and other banking products. Interesting and useful videos and articles are added daily.

When comparing, for example, the number of student loan agreements concluded at SEB in the peak year of 2004, it has decreased eightfold.

For more information:

Maarja Gavronski
Project Manager for Communication
Marketing and Communications Division
SEB Pank

Phone +372 665 5270
Mobile +372 5656 5785
Address Tornimäe 2, 15010 Tallinn
E-mail maarja.gavronski@seb.ee
www.seb.ee

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