Student loan interest rate nearly 0 percent

The interest rate on student loans next year is fixed at 0.01 percent, according to an overview of student financing institution Duo's new interest rates, Z24 reports. 

This means that students can loan money to finance their studies at basically no extra charge next year. The 0.01 interest rate also applies to students who were given their last study finance in 2015. From 2016 they will pay back their student loan at an interest rate of 0.01 percent for a period of five years.

According to Z24, the interest rate on student loans is linked to interest rates on government bonds. Due to the particular circumstances in the capital market, created by the European Central Bank widely buying government bonds from euro zone countries, the Dutch government can lend money for up to 5 years with basically no interest.

 

Tags: