For students on a tight budget, earning extra money and lending as a student is interesting. We put the possibilities for you under each other!
Life as a student is not cheap
Studying in the Netherlands is an expensive joke. Think of tuition, study books, housing and living expenses. Earning extra money and lending as a student are therefore important to consider, because most students are not waiting for a towering study debt. What can you do yourself so that you can spend more on a monthly basis as a student? We list the options for you!
How does borrowing work as a student?
Since 2016, the financing system for students has been tightened. Student finance is no longer a gift. This means that studying is in any case running costs. The question is: are you going to borrow or is there a possibility to work more? Borrowing at DUO is very easy as a student and the conditions are attractive. However, this does mean that after your studies you have a high student debt. Another option is to take out a mini loan. If you are over 21 years of age, you may be eligible for this. However, it is a temporary loan for emergencies, which has to be paid off quickly. You can take out these loans online with independent lenders. You borrow small amounts, such as 100 euros or 500 euros for example. For such small amounts, no BKR check needs to be done, so that you can receive extra money quickly and effortlessly as a student.
Other methods of borrowing money as a student
In short, there are opportunities to borrow as a student, but there are also many disadvantages. Think of a BKR registration, high interest costs or the restrictions if you want to take out a mortgage later in connection with a study debt. An interesting option is therefore often to use other ways to get extra money. These include:
– Taking a part-time job
– Earning money online
– Use savings
– Borrow money from your parents
Whether you have opportunities to work more as a student depends on your study load and your own time schedule. When there are opportunities to receive financial support from your parents, this is often a more interesting option. Using your own savings can also be an option, but make sure you always keep a financial emergency buffer of 1000 euros for unforeseen costs, you do not want to be dependent on an expensive loan in case of emergency. What we see a lot nowadays are students who earn money online. For example, by trading in shares or setting up their own company for, for example, marketing advice or technical support. By looking at where your talents are, you may be able to earn some money to finance your studies without having to borrow!
What are your options? Do you borrow money or do you earn extra money for your study?