How much does studying cost? What financial provisions am I entitled to? What if I have (incipient) debts? On this page you will find all information regarding your finances. If you find it challenging to work on your finances independently, schedule your appointment with a student counsellor immediately.
Getting a better insight starts with making a budget.
How to make a budget?
- Collect information: First, collect all relevant information about your income and expenses. Think about study grants and loans, side jobs, rent, groceries, transport, subscriptions, allowances and so on. Use bank statements, receipts and invoices to get an overview.
- Make a list of income: Write down all of your income, including study grants, salary from side jobs and any other sources of income. Make sure to write down the net amounts (the amounts you actually receive after taxes and any other deductions).
- Make a list of expenses: Make a detailed list of all of your expenses. Divide them into categories, such as rent, groceries, transport, study materials, subscriptions, leisure, and so on. Use your online banking to find out your prior expenses and to get a realistic picture of your average monthly expenses. Budget 5% of your total expenses as contingencies. This way, you will always have a buffer for unexpected expenses.
- Calculate the difference: Subtract your total expenses from your total income to calculate the difference. If you have a positive balance, you have more income than expenses, which is a good starting position. If you have a negative balance, you are spending more than you earn and will probably need to make adjustments to balance your finances.
- Set goals: Set your financial goals. These can include saving towards a specific amount, building an emergency fund, and so on. Keep these goals in mind while drawing up your budget.
- Adjust your spending: Look critically at your spending and identify areas where you can cut back. Maybe you can save on entertainment, eating out, subscriptions you don’t really use, and so on. Try to strike a balance between enjoying life and saving money.
- Keep track of your budget: Monitor your budget regularly and update it when needed. Keep track of your income and expenses, and compare these with your budget goals. This helps you stay aware of your financial situation and intervene in time in case of discrepancies.
Creating a budget takes some time and effort at first, but it can help you take control of your finances and achieve your goals. You can also use the attached Excel file to create a budget. Nowadays, all banks also offer the ability to monitor your spending. Above all, use what suits you.
In this section, you will find information about various financial support options, ranging from student grants to arrangements for (international) students and students with personal circumstances.
As a Dutch student, you are eligible for study grants and loans depending on your age. These are allowances towards your study costs and living expenses. The DUO website has more information on what study grants and loans there are and how to apply for them.
Depending on your nationality, age and education, you may be eligible for study grants and loans. Find out more on DUO's website.
If medical circumstances prevent you from completing your study programme within the official time period, you may be eligible for an extension of your performance-related grant from DUO.
If you wish to apply for an extension of your performance-related grant, make an appointment with a student counsellor immediately. Together, you will determine if you qualify.
The university provides financial support to students who, due to personal circumstances, have study completion delays during the nominal duration of their study programme (think of family circumstances, pregnancy, long-term illness and so on). You can find more information on this on a seperate page.
If you wish to apply for financial support in case of force majeure, make an appointment with a student counsellor immediately. Together, you will determine if you qualify.
Private funds help students who can no longer afford to pay for their studies and living expenses due to personal circumstances. These students experience a deficit due to circumstances beyond their control. Each fund sets its own objectives and criteria; the application procedure also varies from fund to fund. However, the funds do expect you, as a student, to borrow the maximum amount from DUO. On the next page (in Dutch), you will find more questions about the private funds.
To apply to a fund, you will need a letter from a student counsellor. Plan an appointment with a student counsellor immediately. Together, you will determine whether you meet the requirements for applying.
Sometimes you may be eligible for a scholarship. On the next page, you will find everything about the possible scholarships available to you.
Do you have any questions about scholarships? Contact the International Office.
In this section, you will find more information about the allowances for which you may be eligible, ranging from housing and healthcare allowances to the study allowance for students with a functional impairment. It's good to know which allowances apply to you and how to apply for them. You can also find the links to check your eligibility for this financial assistance and information about the Allowances (Toeslagen) app.
Housing costs are usually the single biggest expense, and this is probably true for you. If you live on your own and pay rent, you may be eligible for rent allowance. The Tax Administration applies a number of conditions for this. On the website of the Tax and Customs Administration, you can read whether you are eligible for rent allowance
From the age of 18 you are obliged to have health insurance. If you have basic health insurance, you can check whether you are eligible for a healthcare allowance. Even if your parents pay for your health insurance, this may be an option. The Tax and Customs Administration also sets a number of conditions for healthcare allowance. Check your eligibility on the website of the Tax and Customs Administration.
If you have questions about rent allowance or care allowance, contact the Tax and Customs Administration.
Anyone receiving allowances can check and update their information with the Allowances (Toeslagen) app. This includes if you receive housing allowance or healthcare allowance. For example, if you start working alongside your studies and your income changes, make sure to report this through this app. It's important because it ensures you receive the allowances you are entitled to, neither too much nor too little.
Features of Allowances (Toeslagen) app
With the app, you can see which information is currently being used to calculate your allowances. You can also report changes in your annual income. The app's notifications remind you to report changes, such as checking and potentially adjusting your income after receiving your annual statement.
Downloading the Allowances (Toeslagen) app
Would you like to download the Allowances (Toeslagen) app? You can do so in Apple App Store and Google Play Store.
Check if you are entitled to allowances
Not receiving allowances? You might be entitled to them. Since January 1, 2024, more people can receive allowances, and that might include you. For example, many students are eligible for healthcare allowance, but they don't always apply for them. Do a calculation on toeslagen.nl/proefberekening to see if you are entitled to allowances. Then apply through Mijn Toeslagen . With the Allowances (Toeslagen) app, you can then check and update your information.
You can find more information about the various allowances on toeslagen.nl. Need help? Call the Tax Information line at 0800 0543 (free of charge).
Top of Form
Students who have student grants or loans but are unable to have a side job due to a functional impairment can apply for a study allowance from their own municipality. Read more about this on the website of the government (in Dutch).
Don’t be embarrassed if you are in arrears or in debt. Erasmus University has a partnership with the two agencies that can help you with this:
You can contact them directly or stop by during the monthly financial consultation hours. The conversation will be with JIP. The consultation hours take place on the last Tuesday of every month in the Personal Support Hub located in the Living Room.
Payment plan
Are you unable to pay your tuition fees in time? In some cases, you can arrange for a payment plan with the university. Contact the student counsellor to discuss the options. If your file has already been passed on to the debt collection agency, unfortunately the student counsellor can no longer help you. Make sure, therefore, to ask for help in time.