"Only 45% of students polled by Nibud were aware that interest was added to bill during their four-year degree and 25% have no idea what the interest rate is."
May be it is time to rethink the admission criteria for university students...basic intelligence should be a must, don't you think?
Isn't this cool...? "25% said they took out a loan so they good[sic] have a 'relaxed' period as a student"

By AC | January 29, 2010 1:50 PM

i think the problem here is that most students have no sense of financial responsibility or an good understanding of loans. which is understandable having come straight out of school at 18 years old. who can blame them. but wanting to have a relaxed period is a bad excuse. in my opinion i think many students come out of university thinking they will jump straight into a high flying job and pay off their debts no problem. they live in another world im afraid and i think most of them will regret the loan decision once in the real world.

By LP | January 29, 2010 3:31 PM

The students get government assistance with financing their studies. This however just about covers the cost of renting a room. Food, clothing, term fees, books and materials have to still be covered. Jobs are hard to come by and not well paid for a student. I am impressed that they manage to get through their studies on a loan that averages out at about Euro10 a day. Perhaps they manage a budget better than most of us.

By jaycee | January 29, 2010 4:59 PM

These loans aren't necessary to pay for tuition fees and such, as those are pretty much paid by the Dutch government. So, I think most of them indeed take the loan so they don't have to work and can live above their standard (i.e. live in a too expensive apartment and too much partying).

Then again, if you're able to get a job after you're done with uni, 15 years should be plenty of time to pay it back. It's not ideal, but not the end of the world either.

By JGG | January 29, 2010 7:34 PM

Well I am graduating from an American University with 50,000 Euro's in debt. Your kids are spoiled when it comes to University costs.

By Michael T Schultz | January 29, 2010 8:20 PM

I am a student and have no choice but to take on a loan. I would love to work but my Dutch isn't great and my timetable changes EVERY week, plus I'm over 23 years old which means the minimum wage to hire people like me is more than double of an 18-year-old. I don't get healthcare or rental subsidies and while I do receive full studiefinanciering (about 490 euro), that is definitely NOT enough to even SURVIVE (tuition 162 euro/month, health- 90 euro, rent -300 euro, food, books, everything else?). I don't party (perhaps once every 2-3 months). I am aware of the interest though and taking a loan was a conscious decision.

By ikbenstudent | January 30, 2010 10:46 AM

If you are getting a quality education, 15000 is cheap. Which is more valuable, a cheap new car, or a college degree? If any of you picked cheap new car, its time for you to go to college.

By John | January 31, 2010 2:17 PM

I had to take the full student loan when I was in Uni and I'm still paying it off. I only wish it would have been as little as 15,000.

It is true that you are told very little of the long term inplications when you sign up for a loan. And it does not surprise me that most students aren't aware of what an "interes rate" is, why would they? These kids have just left home and this is basically the first loan in their lives.

I think the government should take more action in sitting down with each applicant and really explaining to them exactly what their costs will be at the end of their four years and what the costs will be for them to repay it.

I've personally recieved some amazingly high repayment bills which for most "starters" is almost laughable to pay.

By B | February 1, 2010 8:06 AM

I'm thinking of not sending my kids to University. If they start working they will be better off in 4 years than a university graduate. At least they are not owned by the banks and they have to work the rest of their lives as slave to bank owners.

after 10 years I'm still paying my student loan to the bank.

By Al | February 1, 2010 10:30 AM