You most likely ended up on this page because you are studying at a college or university. Students often do not have much money to spend, while they do need a box of money for their studies. The parents of students do not always help, but there are plenty of opportunities to solve this so-called problem. As a student you need an average of 700 euros per month to make ends meet. With a basic grant and your side job of 5 hours a week, it is often difficult to find enough money. Borrowing extra money from TUO can be a handy option! We explain here in detail what the possibilities are for getting enough money. http://thedenenbergreport.org has details
The basic grant is seen in the Netherlands as a performance grant. If you complete your school within ten years, you do not have to repay this money. You can then see it as a kind of gift. The basic grant has been introduced since 1986 and will continue to exist in the coming years. Since 2005, this scholarship has also existed for MBO students who do level 3 or 4. For students of the MBO, the basic grant is always a gift, even if they do not go to school. A condition is that the student comes to school often enough. If a student is going to study in a different place of residence, he may be moving. Because the rent of houses is incredibly high, someone who lives in rooms gets an extra amount from the basic grant. This amount is around 180 euros per month on top of the basic grant. The basic grant for HBO and WO students is around 100 euros per month. For MBO students this is approximately 80 euros per month.
The supplementary grant depends on the income of your parents. If your parents are above a certain amount, it may be that you do not receive a supplementary grant or that the amount is considerably lower. TUO will check with the tax authorities what your parents earn in a year and will then determine the amount of the supplementary grant. The maximum that you can get at the moment, if you are studying at a college or university, is € 245.30 per month. That comes on top of the basic grant that you get. The supplementary grant will disappear for new students who will study from September 2015. The supplementary grant will continue to exist for current students.
Borrow money from TUO (Performable Education Service)
If you receive a basic grant you have the option of borrowing money from TUO (Service for Feasible Education). Unlike other financial institutions, borrowing from TUO is cheap, VERY CHEAP. You only pay 0.12 percent interest for the loan with TUO. Borrowing money without a credit assessment at TUO is therefore highly recommended for students. You desperately need the money that you now receive as a student. If you have a good job later after your studies, you can pay off this loan with ease. You were able to enjoy the loan during your studies and you no longer have any problems paying it off. Below we will explain step by step how you can apply for a loan from TUO.
Step 1: Visit the website
Go to www.TUO.nl. Login with your DigiiD. Enter your username and password and verify your details.
Step 2: Menu
You will see the general menu of the website after you have logged in. First click on ‘my details’. Then click on the ‘person’ heading. You will see a screen with some general information. Click on ‘student finance’ next to the ‘applied for’ heading.
Step 3: Details of student finance
You can see here what kind of student finance you will receive. You also have the option to request a loan from here. First click on ‘change’, next to the heading ‘student finance applied for’.
Step 4: amount of TUO money loan
You can now adjust the amount of the loan. You can also know when you want the loan to start. The loan can be adjusted every month. If you only want to borrow an extra month for money, you can! You will see five options. Click on the fourth option, in this case ‘change the amount of tuition fees credit’. Then choose the date from which you want the loan to run.
Benefits of borrowing money from TUO
– Very low interest. If you, as a student, really want a loan, then we absolutely recommend that you ‘take out’ this with TUO. The interest is only 0.12%. You will certainly not find a cheaper loan.
– Payment within 15 years. You have 15 years to pay off your loan. You hardly see this anywhere.
– Temporary loans. If you know that you are short of cash the next month, you can request an additional loan for a month of 200 euros. The interest is and remains just the same!
– View loans. The TUO.nl website makes it easy to see how high your student debt is. In addition, you can always make an appointment with a TUO / IB-Groep employee. This will help you carefully.
Disadvantages borrow money from TUO
– A loan always costs money. Very little in this case, but a loan is always a disadvantage.
– You will have to contend with a debt later on, which means that you will have to hand over a monthly amount of your income.
– It is not possible to withdraw a large amount in one go. You actually have to wait until everyone is paid. This only happens once a month and usually around the 24th of the month.
Do it or not ?!
If you don’t get a lot of money from your parents or do you not work enough? Then we say: definitely! The interest you pay is so extremely low at TUO that we don’t say no to it. You can always repay the money that you borrow now. In addition, you also simply have the option to repay everything in one go. So if you have received enough money later you can pay everything off at once. The money that you now get from the loan seems a lot. As soon as you are older and have a steady job, you can pay off your loan in no time. Do not borrow an excessive amount of money if you do not need it. Do not spend your money differently than you are used to.