Student loan was once an additional loan with the student grant, since 2016 the student grant has been converted into a loan: the study surplus.
Studying costs money. Students pay tuition fees, study materials and often also housing. Previously, students from the government received student finance and part of the income from part-time jobs was paid. Another option to finance a study is the student loan. A distinction must be made between the loan with a commercial authority and us (Dienst Uitvoering Onderwijs.) The financing of the study has been subject to change for decades, and the student grant also changes on 1 September 2015.
New: student advance
From the academic year 2015-2016, the student finance for HBO and university has been converted into the student loan (for MBO the current scheme will largely remain.) This means that the basic grant will disappear. Instead students can borrow a maximum of € 854.13 per month (from 2016 this amount is set at € 862.50 per month.) This does not require payment of tuition fees. A maximum of € 162.58 per month can be borrowed for tuition fees. The mandatory repayment period has been extended from 15 to 35 years. Students with less well-off parents are still entitled to an additional grant. This scholarship is part of the abovementioned € 854.13 and is converted into a donation within 10 years.
The advantage of a student loan is that it becomes possible to study without spending a lot of time and effort on a job. This increases the chance of graduating within the set period without study delay. The loan from us is certainly advantageous because of the low interest rates that are calculated (the percentage shows a downward trend in recent years.) The extended term can also be called favorable and compared to commercial loans the student loan has all kinds of interesting conditions ( for example, no penalty when paying off the loan at once.) In addition to the study surplus, student credit can be used at a commercial bank. Repayment of this starts after the end of the study but at a much higher percentage than at us. A handy interim solution is the conclusion of a student account that, among other things, leaves more room for red.
Despite the often favorable conditions, there are a number of drawbacks to the student loan. At a fairly early stage in life one is saddled with a debt. In theory, it should simply be possible to pay off when a job is found after the study. This scenario may be too rosy if one also has to pay the costs of daily life as an employee. This applies entirely when you do not know how to complete the study.