A rant about dutch student loans
Updated: Nov 6, 2019
Okay, so I’m meant to be studying, working on assignments or doing anything else besides writing a blog post today. However, while taking in my daily dose of news I came across a NOS news article discussing the topic of student loans in the Netherlands. Honestly, I need to process, so what better way to do that than by telling y’all about it right? Let’s dig in.
It’s been 4 years since the initial introduction of the new student loan system for higher education in the Netherlands, the original plan was to use the excess to bring significant improvements to higher education in the Netherlands. Today, the government has finally announced the investments that will be made and acknowledging that well the students who started in the new student loan system have not benefited from the changes in policy and will not benefit from the investments that will be made in the coming years as most of them are about to graduate.
To make up for the fact that the students who entered into student loans between 2014 and 2018 did not profit from this system they will receive a 2000-euro education check, well, those who graduate. This check can be used for further or extra education at accredited institutions to further boost their CV.
Sound like a good plan, right? Absolutely. It acknowledges the mistake and tries to make up for the problem. But, and it’s a big but, what happens to those who don’t want to pursue further education? Pursuing a master's degree, for example, would mean going into even more debt and this education check wouldn't cover that. What about those who aren’t staying in the Netherlands and thus might not be able to use this check? Can this check be applied to pay off part of the loan already accrued?
As a happy coincidence, the Aruban Minister of Education also announced that the interest on Aruban Student Loans has been lowered to 0%. This is certainly a step in the right direction as it will make the idea of getting a loan to pursue higher education less costly. Of course, beyond encouraging higher education, Aruba should also work on bringing back students who go to study abroad and student loans can offer many opportunities for student incentives.
Overall, I think both the Dutch and Aruban governments are taking a step in the right direction. However, there are still many questions that need to be answered regarding the possible Dutch solution.
If you're interested in reading more on the Dutch subject you can head on over to NOS or Volkskrant. If you're interested in more information regarding Aruban student loans you can read more at Enseñansa Aruba.
Disclaimer: The views and opinions expressed in this blog post are those of the author and do not necessarily reflect the official views of Phryme Magazine.