Student Loan: Who Qualifies and What You Get
Learn how to access monthly financial support for living costs if you are enrolled in higher education in the Netherlands.
This scheme allows students to borrow money to help cover their monthly living expenses while they study.
Who it's for
This scheme is designed for anyone currently enrolled in a higher education program. If you are a student navigating the complexities of university or higher education in the Netherlands, you may be eligible to apply for this support. It is intended to help students manage the financial pressures of daily life while focusing on their studies.
What you get
The primary benefit is the ability to borrow money to help pay for your monthly living costs. You can borrow up to a set maximum amount each month, which is intended to assist with expenses like housing, food, and other daily necessities. This monthly support is designed to help ease the stress of managing tuition fees alongside the general cost of living.
What it costs you
There is no upfront fee to apply for this loan. However, to complete the process and manage your account, you will need to have your DigiD ready. DigiD is the digital identity system used to access government services. You will also need to provide your bank account details so that the funds can be transferred to you.
The catch to know
The most important thing to monitor is the interest rate. Interest rates are currently rising, which means the total amount you eventually pay back could change. Because these rates are not fixed, you should make it a habit to check the DUO portal every year to understand how interest affects your specific loan amount.
How to apply
- Ensure you have your DigiD (digital identity) ready to access government services.
- Access the official DUO portal to begin your application.
- Provide your bank account details to ensure you can receive your monthly funds.
- Set a reminder to check the DUO portal yearly to monitor your interest rates and loan status.