A study is not cheap and that is why the Dutch government assumes 3 parties that contribute to the financing of your study: your parents, the government and of course you. The government provides a basic grant, also known as student finance. In addition, your parents are expected to contribute to the study costs.
If your parents cannot afford this, the government can contribute with an additional grant. Finally, you can contribute to your studies yourself, you can do this by looking for a part-time job or working part-time or by applying for a student loan.
Pay tuition fees with a loan
You can borrow money from the government in an attractive way as a student. It is good to realize that you have to pay back the student loan with the KB group after your study including interest. A loan from the KB group has a relatively low interest rate. The interest rate for a student loan for 2012 has been set at 1.39%.
This interest rate changes annually as long as you are still entitled to a loan or performance-related grant. If you stop studying, the interest will be fixed for 5 years each time.
How many borrow from the KB group
You can determine the amount of your student loan with the KB group yourself. Take a good look at what you need and make an overview of your income and expenses. The maximum loan for a student in 2012 is set at 853.16 per month. This is what you can borrow from the KB group.
It is good to know that you can change the amount of your student loan with the KB group on a monthly basis. If you need money temporarily, you can also decide to borrow money from the KB group for a few months. At the end of this period you can adjust the loan to zero again.
Repay student loan to the KB group
After completing your studies, you must repay the loan to the government. They will contact you about the monthly amount that you must repay. You must repay a minimum of $ 45.41 per month from your loan.
If problems arise with paying back your student loan, the government has various arrangements to temporarily repay less or even nothing at all from your student loan.