Latvia writes off 390 student loans, debt recovery ongoing for 186 cases

Latvia has canceled 390 student loans in the past year, while debt recovery efforts continue in 186 other cases, according to recent reports. The state's efforts focus on managing the repayment of 13,813 state-funded student loans, with 392 still in the process of repayment or judgment enforcement.

Loan forgiveness was granted in various circumstances as stipulated by law. A significant number, 234 loans totaling 80,004 euros, were written off for individuals working in state and municipal sectors. Additionally, 136 student loans amounting to 105,117 euros were canceled due to the birth of a child. Fourteen loans totaling 25,645 euros were forgiven due to disability or the borrower's death, and six loans worth 6,823 euros were cleared following bankruptcy proceedings.

The state agency VIAA also administered scholarship-like loans. Out of 724 such scholarships, repayment was monitored in 162 cases, with recovered funds transferred to the state treasury. The agency also oversees debtors' insolvency proceedings to safeguard the state's interests as a creditor.