The Netherlands offers several options for financial support for students starting their educational adventure in this country. These include a loan for tuition fees, a financial grant and public transport subsidies.
Any EU citizen who is under 30 years of age, opens an account with a Dutch bank and undertakes full-time education (both undergraduate and graduate), can apply for a loan of approx. € 2,168 per year (data for the 2021/22 academic year).
You can start your application as soon as you have received the acceptance letter from your university and have found accommodation in the Netherlands. After the loan is granted, at the end of each month, the amount is transferred to your account, and your task is to send the tuition fees to the university's account yourself. Two years after graduation, the re-payments begin, which can be spread over 15 years. DUO (Dienst Uitvoering Onderwijs - Education Agency in the Netherlands) calculates the monthly installment, the lowest being € 45,41 More on tuition payment here.
Collegegeldkrediet is charged interest from the date you borrowed the money, but the current interest rate is close to zero.
European students who work 56 hours a month in the Netherlands can apply for an additional grant of up to € 867 a month.
The grant, unlike the college loan, is non-returnable - provided you complete your studies within 10 years. However, the amount depends on your or your parents' income. If you earn less than € 36,000, you will receive a grant of € 386.08 and the opportunity to apply for an additional € 481.06 per month (totaling € 867.68 as mentioned at the beginning). If the income is over € 36,000, the grant may range from € 0 to € 386,08 While receiving the grant, you can apply for an amount adjustment if it can be proved that your parents' income has decreased.
You can apply for the grant after three months. That is because three payments are needed as well as an employee insurance (approx. 70 €). It is a good idea to apply for a grant as soon as the first three months with a salary have passed.
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