You no longer have student finance from the government, so you have to save it with a job and help from your parents. And you can borrow.
If you are requesting a student loan for the fixed costs, you can arrange this. Any Dutch student can apply for this loan.
The costs of a student are about 1000 euros per month. That is a high amount, for someone who does not receive a full-time salary. The biggest cost item is your room . In most cities with a university or college, the rent of a room is between 350 and 500 euros. You also have the costs of:
At you can apply for a student loan if you are registered with a study program in the Netherlands. So you usually have enough money to pay the monthly costs.
A student loan at has favorable conditions. You do not have to pay it back immediately, as with a mini-loan or red. Only two years after you have graduated you must start paying back . And the amount of the amount per month depends on your income. If you do not earn so much, then the monthly amount is not that high either. These schemes make it possible for everyone and pay a study. So you do not have to think about money while studying.
You can take out an additional loan for the unexpected expenses . For example, many students are familiar with ‘standing red’, a temporary loan from your bank. You quickly get rid of that once your monthly income is credited. Then you are “out of the red” again and in the end you only have to pay a few euros for a small loan. The handy of red standing is that you can arrange it in advance . Then you can automatically borrow money if necessary.
If you have a part-time job, you can also take out a mini-loan in addition to being red. A private money provider offers the possibility to borrow a small amount via the Internet . The term is short, 15 or 30 days. Sometimes it is also possible to repay the amount within 45 days. But then the interest costs are also higher.
The lender sees your wages from your part-time job as a guarantee that you can pay off the minus loan. That is why a mini loan or mini credit is a good solution for the unexpected expenses of a student.
Calculate quickly whether your financial situation is suitable for taking out a mini loan. You are eligible for a mini loan for students if you have a fixed income every month. A sideline or loan from a is considered a fixed income. If your fixed costs are lower than this monthly income, you can repay a mini loan quickly. You can see it as an advance on that monthly income.
Example: you have an income of 1000 euros and your fixed expenses are 800 euros. Then you have 200 euros free to spend next month . That amount is available for paying off a mini loan. That means you can close a mini loan of about 200 euros this month. The lender knows that you have 200 euro available within the 15 or 30 day period. You can use that for the repayment. For example, a mini loan can be a solution if you have unexpected expenses. December is every year an expensive month, or if you have an unexpected expense such as the cost of an annual party of your student association.
The amounts of a mini loan are between 100 and 800 euros. With the income of the typical student you can borrow around 200 to 300. You have to be able to pay it back within a month. You can not pay in installments. A mini-loan is therefore less flexible than red standing or a revolving credit . You also have the option to redeem the mini loan earlier than the agreed term.
All loans from the Netherlands are registered with the Bureau Kredietregistratie (BKR) in Tiel. Most adult Dutch people can be red and many have a mortgage, personal loan or revolving credit . When you take out a new loan, the lender at the BKR can check whether you can repay a new loan. They then look at how many loans you already have, and whether you have incurred a payment arrears in the past five years. Anyone who has had difficulty repaying is no longer eligible for a larger loan.
Fortunately, a provider of a mini loan does not look at your BKR status . They look at the level of your fixed income: that is sufficient guarantee. They do not carry out a BKR check for your application for a mini loan.
The advantage of a mini loan is that you get the opportunity to get the money on your account as a matter of urgency . Borrowing money without BKR testing within 10 minutes is arranged . The employees of the lender will immediately process your application. The amount can still be on your account the same day. For this it is important that you have an account with the same bank as the lender. Then there is no delay of the transferred amount between different banks. But if you have an account with one of the larger banks then the amount of your minus loan can still be on your account the same day.