Since the abolition of the basic grant in 2015, the number of students borrowing money has tripled. 70% of all HBO students borrow money from DUO. Of these, three-quarters are very concerned about this loan.
Borrowing money is necessary
For many students, borrowing money is necessary to make ends meet. 21% of the students find it very difficult to make ends meet every month and another 43% indicate that it is not difficult to make ends meet, but that they have nothing left either. On average, students borrow 700 euros per month. They need this amount for high study costs and (often) high fixed costs in combination with limited income. Working alongside their studies is necessary for most students, but the obligations of a permanent job alongside their studies cause extra stress for 56% of the students.
Besides the fact that the money problems cause the students a lot of stress and worry, it also has negative effects on their studies. For example, students miss lectures, do not purchase all textbooks and in some cases they even stop their studies due to financial pressure. The students with money problems also do not participate in study trips or other social events, which creates social pressure and isolation.
Students earn an average of 550 euros per month. Many students work in the hospitality industry on a zero-hours contract or on-call basis. Due to the corona crisis, this income has been completely lost for many students. As a result, students have started to borrow more to make ends meet.
Working and studying
A permanent job causes students a lot of stress, but at the same time they need the income to make ends meet. In 2021, students may earn up to 8,700 euros per year without having to declare this to the tax authorities. Via GetJobsDone, students can decide for themselves where and when they work. This platform offers (study-oriented) assignments for a fixed amount (net). This way they know exactly how much they earn with the assignment. In addition, students work directly on their CV by gaining relevant work experience in their field of study.
Check out GetJobsDone & start earning
Flexible working where and when you want? View the available assignments and start earning. You do not need a Chamber of Commerce number and the money will be deposited into your account within 2 working days after completing the assignment.