Borrowing as a student is very normal nowadays. Today’s students often need extra financial resources during their studies and therefore often take out a student loan / student loan. Because the government is also cutting back on student finance, the number of borrowed students has also risen sharply in the past year.
In terms of student loans, there are a few different credit providers with different types of loans. To also be helped on your way as a student on borrowing money, we offer some brief information for students on this page.
Borrowing for students
In the Netherlands, almost every student has a loan. The main reason for this is the basic grant to which every student is entitled. This ‘scholarship’ is part of student finance. The word financing says it all, it concerns a student loan. This ‘grant’ is a performance-related grant, which means that it is waived if the study is completed within 10 years. In addition, the student who wants to borrow can take out an additional loan independently of the basic grant. The so-called supplementary grant.
Borrowing student in the Netherlands
Students can borrow through the KL group in Groningen, among other things, this organization also arranges student finance. You can also borrow extra cheap money from this body as a student. The advantage of a loan with the KL group is that the interest is very low and that it takes students more than 10 years to repay the loan. Nevertheless, students who want to lend extra money in addition to their student finance must think carefully about whether it is wise. The student in question always has a longer period attached to such a loan. The question is therefore whether the extra loan is necessary or whether it is possible to opt to work more in addition to the study. In addition to a nice income, this can also be good for your CV and therefore also good for your future position in work.
Students can easily calculate how much they can borrow from this KL group calculation tool: IB Groep calculation tool
The loan from the KL group has the following favorable conditions for students:
|Borrowing benefits from KL group|
|Very low interest rate, 1.39% in 2012|
|Long term possible up to 15 years, so low monthly charges|
|Full repayment at any time without penalty.|
|Pay off only after your study, at least $ 45.91 per month|
|Never borrow too much by calculation based on living situation and income|
|Short-term loans possible (eg 1 or 2 months)|
|Clear online debt overview|
Borrow from the bank
However, it is also possible to borrow money from other providers, banks such as Vibank and Zaloan offer forms of student credit. The providers on this site do not offer products for students. These credits are often only possible if students also follow a certain study with which the bank has an appointment. Students can contact these banks to inquire about the conditions and possibilities.