Working more hours, taking out additional loans or choosing to save? With a new tool developed by the Dutch National Institute for Family Finance Information (Nibud), students can get a clearer picture of their income and expenses.
The online tool WatKostStuderen (What does studying cost?) was created by the independent information institute Nibud for students in vocational education, universities of applied sciences, and research universities. The tool is only available in Dutch.
To help students make an informed estimate, Nibud shares average spending figures. For instance, students pay around €217 per month in tuition fees and an average of €53 for books. If they live in student accommodation, they typically spend another €500 per month on rent.
Benefits for housing or healthcare
Around 70 percent of students have a part-time job. According to the tool, students earn an average of €560 per month this way. That’s not nearly enough to cover all their expenses. Parents often lend a helping hand, for example by paying for textbooks or transferring a monthly amount—on average €240.
Many students are also entitled to healthcare benefits, and in some cases housing benefits. The latter only applies to independent living spaces, not to rented rooms. The basic student grant is also included in the income: €126 for those living at home and €314 for those living away from home. There may also be an additional grant.
At the end, the student receives an overview of their income and expenses. If all average amounts are entered, there’s a shortfall of around €400 (excluding additional grants or housing benefits). That means borrowing from DUO, asking parents for help, or working more hours. (HOP, NB)
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