Like I said in my previous article, there are lots of wonderful places to consider going for an education. The Netherlands is a beautiful country to pursue an international education due to the low tuition, friendly people, affordable rent especially in student dominated areas and the opportunity to explore Belgium or Germany during vacations because they share borders with the Netherlands.

Read Also: Costs of Studying in the Netherlands for International Students

Who Needs Student Loans?

Affordability is quite relative when you compare different households based on their financial earnings, this is because most households do not have the same income hence some students might require some sort of financial assistance to aid their rent, tuition or daily expenses.

How Does Student Loan Work In The Netherlands?

For citizens and members of the European Union, the tuition in most universities is not as high as that for international students which range from € 6000-20000 depending on what university you decide to attend. Before now, there were opportunities to apply for grants from the government but the government has decided that there will be more of 0% interest loans than grants.

How Do I Apply For A  Loan As A Foreign Student In The Netherlands?

The good news is that there are local banks that are willing to assist your financial needs as a student, but there are a few requirements you must be willing to provide before you can access such loans they include;

• Passport
• Student I.D
• Birth certificate to prove you are under 30 years of age
• Work permit (to legally work in the Netherlands)
• Financial status for you and your parents is under €13000 yearly

Is there a Minimum Amount?

Some banks would like to know what your tuition fee breakdown is to be certain that there is no alteration in the price, while some would rather give out little loans for rent, tuition and other little expenses. Most banks usually payout loans monthly at the agreed amount between both parties.

Conclusion

Usually, the repayment process is between 15-35 years but you would not be asked to start repayment until you earn above the minimum salary required. A specified amount would be deducted monthly during your repayment plan period which you have discussed with the loan manager. However,  you can consider taking a part-time job while studying as there are flexible laws allowing students to work with their resident permit.