Finance Options
There are a number of ways that you can finance your degree in the Netherlands. The British government and Student Loan Company will not offer you any support unless you go to a Dutch university on a recognised exchange from a British university. The situation at postgraduate level is slightly different and it may be possible for you to obtain a career development loan.
However, you can access Dutch student finance on exactly the same basis as local students. This is the typical way to finance studies in the Netherlands and is roughly equivalent to the student loans you could receive in the United Kingdom.
All EU students are entitled to a loan to cover their tuition fees if required (see Collegegeldkrediet below) but additional support is also available under certain circumstances.
The most important condition for you to fulfil the criteria for Dutch Student Finance is that you find work with a Dutch company alongside your studies. You will need to work 32 hours a month and pay Dutch national insurance on your earnings (but not income tax). As a result you will not only have your earnings from your job, you will be eligible for a grant and additional loan opportunities. You need to be under 30 years of age in order to access this support.
Dutch Student Finance consists of three components:
- The basic package
- The means-tested element
- The Top-Up loan
The basic package is fixed. In 2009-2010 students who live with their parents (unlikely for British students) receive €95.61 per month. Students who live away from the family home receive €266.23. You must be registered as a resident with the relevant local authority in order to receive this funding. This is a grant not a loan.
The means tested element takes your family’s income into consideration in the same way as financial aid for students in the United Kingdom. Depending on your family’s income you could be eligible for up to €242.76 per month.
The Top-Up loan may be accessed by those who need additional financial support. This is a separate loan from the Collegegeldkrediet which is available to everyone.
You can borrow up to €285.70 per month. This loan is designed to help you if you encounter additional costs during your studies, for example if you choose to study abroad during your degree. Interest will be charged on this loan at a commercial rate which will be determined at the time you complete your degree.
With Dutch student finance you can count on an income of €746 to €930 per month, not including your earnings from part-time work. Even if the income of your parents is over the threshold for the means-tested element you can still get the maximum amount with the help of a loan.
Collegegeldkrediet
This is a loan which is designed to enable you to cover the cost of tuition fees. You receive a monthly amount equivalent to 1/12 of your tuition fees. In 2009-2010 this is a monthly amount of €130.42. You can request the Collegegeldkrediet from the IB Groep. In order to receive the loan you must complete your application by 31st January in the year for which you wish to claim. This gives you plenty of time to submit your application and you can actually start your studies and apply for funding at the same time. Interest on Collegegeldkrediet is currently charged at 4.17%pa.
You can access the application form for Collegegeldkrediet here: http://www.ib-groep.nl/Images/8622A_tcm7-7430.pdf