A new student finance system - now what?

During this academic year, the law concerning student finance (studiefinanciering) is drastically changing. But what does this mean for you? Estimator has looked into this for you and summarizes the most important changes!

1. Abolishment student grants

Did you start studying this year? Then you probably noticed you unfortunately no longer get any free money. However, the maximum amount you can borrow from the government has gone up to € 1025,08 per month, currently against an interest rate of 0.01%. Students in the old system receive € 288,95 (if you live by yourself) or € 103,78 (if you live with your parents). They can borrow an additional € 714.50 per month.

2. Retroactive changes to student grants now allowed

Pay attention! This could save you a lot of money! From now on, it’s allowed to apply for a student grant or change its amount for previous months! So if you, for example, moved to your own place, but forgot to change your living situation from ‘living with your parents’ to ‘living by yourself’, you can still apply for the hundreds of euros of additional grants!

3. Higher supplementary student grants

If your parents earn less than a certain amount, you may be eligible for additional grants. The maximum amount has gone up with € 110.74 to € 271,19 (living by yourself) or € 249,56 (living with your parents) per month.

4. Unlimited extra earnings

For students who started this year, there’s no limit to what they can earn with side jobs. Students in the old system who earn more than € 13.989,13 per year are not eligible to grants, student loans or free public transport.

About this article

Written by:
  • Tobias Hoogteijling
| Published on: Feb 29, 2016