Four-year degree costs Dutch students nearly €50,000 in total: Report

A four-year degree at a Dutch university or college costs an average of around 50 thousand euros, according to the most recent figures by Nibud. That amounts to around 12 thousand euros a year, or a thousand euros a month, AD reports.

The most recent Nibud Student Survey, from 2017, shows that on average, students not living with their parents spend 1,082 euros per month. That is an average of 417 euros on rent, 181 euros on groceries, 58 euros on text books and study supplies, 63 euros on transport in addition to the student public transit card, 146 euros on relaxation, entertainment and sports, 47 euros on clothing and shoes, 106 euros on health insurance, and 26 euros on their phone.

Nibud - the national institute for budget information - calls on students and parents to sit down together and draw up a reasonable and realistic budget that the student can stick to. "Only borrow what you really need", Marion Weijers, Nibud's senior advisor on budget information, said to AD. "A student loan may be necessary to pay for your studies. Before you borrow, consider and calculate whether it is really necessary."

By only borrowing what you really need, you can make sure that you graduate with as little debt as possible. "The interest rate [currently at 0%] is set for five years. A student loan can therefore be a good investment, but also realize that a student loan can have a significant impact on your budget later", Wiejers said.

Students and parents can find out more about student loans and budgeting from the Nibud website, from DUO, the institution from which you can borrow money for your studies, and from student union LSVb.