Can a Student or a Minor Borrow in Belgium?
Today, many teenagers live an almost emancipated life and no longer wait until they are officially adults to want to buy a scooter, a tablet or a laptop. On top of that, it has become common for schools and universities to require students to bring a laptop or tablet to connect to the internet and follow classes in optimal conditions.
Credit professionals therefore increasingly receive credit requests that originate from very young people or from students. However, Belgian and European legislation strictly regulates who may actually sign a credit agreement and under what conditions. Before applying for a student loan, it is essential to understand these legal limits.
Minimum Age to Borrow
In Belgium, as in all European Union countries, the rule is clear:
- No credit can be granted to a person who has not reached the legal majority.
- The age of majority is 18 years.
Below this age, a minor cannot validly sign a consumer credit contract in their own name, even if they have a regular income from a student job.