While the United States of America, Australia, and the United Kingdom have typically been the top countries for Indians to consider for international studies, the Netherlands is slowly becoming a sought-after destination as well. In fact, The Times of India ranks it seventh in a list of the top 10 countries for Indian students.
This comes as no surprise given the Netherlands’ superior educational system, globally ranked universities and lucrative job market. However, as is the case with all international educational programs, financing them can be a significant hurdle.
Fortunately, you have the option of applying for an educational loan to help you bridge the financial gap between you and your dreams. Here, we discuss everything you need to know about an education loan for study in the Netherlands.
What is the Cost of Studying in the Netherlands?
The Netherlands is no doubt one of the top educational destinations today. However, it can be heavy on the pocket. Apart from your course tuition, you have also to consider living expenses when you study abroad. To help you gain an idea of the cost of studying in the Netherlands, here are some approximate figures:
Expense
Monthly Cost (approximately)
Bachelor’s Degree
6,000€- 15,000€
Master’s Degree
8,000€- 20,000€
Accommodation
400€- 1000€
Transportation
40€- 80€
Food
150€- 170€
Internet
30€- 50€
Miscellaneous
150€- 200€
In total, your monthly expenses, barring your tuition fees, can come to somewhere between 770€ to 1500€. Fortunately, you can apply for an education loan for the Netherlands to meet these expenses as well as your tuition costs.
Financing Your Netherlands Course with an Education Loan
Applying for a study loan for the Netherlands has several benefits, such as:
It allows you to fund your course without hurting your financial stability.
It gives you access to a considerable loan amount.
It allows you to meet a variety of expenses, from tuition to rent and transport.
It allows you to start repaying your loan after completing your course to ensure you’re not distracted from your studies.
Education Loan for Netherlands: Eligibility Criteria
Most lenders require you to meet the following criteria:
The applicant should have completed 10+2/diploma
The applicant should be between the ages of 18 and 35 years
The applicant should require the loan to pursue education from a listed, recognised and accredited institution in the country or abroad
The applicant must be able to provide a pre-admission sanction document, scores on entrance tests such as GRE, GMAT, etc., 12th/HSC results, or a document confirming your admission
The applicant’s parents, siblings, spouse, grandparents, parents-in-law or maternal/paternal uncle must be a co-borrower
Be sure to check your chosen lender’s education loan eligibility criteria before applying for a hassle-free process.
Study Loan for Netherlands: Documents Required
While the list of documents required will vary with the lender, here are some documents you should keep ready for a speedy application process:
Proof of Identity: PAN Card, Passport
Academic Documents: The lender might require your 10th mark sheet, 12th mark sheet, available semester mark sheet/transcript, degree, exam scores (GRE, IELTS, TOEFL, GMAT, other)
Financial Documents: The lender might require salary slips for the past three months, Form 16 of the previous two years, ITRs of the last three years, business proof, P&L accounts, balance sheet, bank statements for the last six months
Study Loan for Netherlands: Application Process
Applying for a study loan in the Netherlands requires just a few steps. You can apply for it offline as well as online. For an offline application, follow the steps below:
Step 1: Visit your chosen lender’s nearest branch
Step 2: Complete the process as per the direction of the executive
Step 3: Once your application is verified, you will receive the loan amount
For an online application, here are the steps to follow:
Step 1: Navigate to your chosen lender’s official website
Step 2: Fill the form online and upload all necessary documents
Step 3: Once your application is verified, the loan amount will be sanctioned
To Sum Up
Studying in the Netherlands is more than getting a world-class education. It’s about gaining exposure to a new country, people and culture and preparing yourself for the global job market. And the best part is that you don’t have to jeopardise your financial stability for this.
All you have to do is apply for an education loan for study in the Netherlands from Tata Capital. With education loans at attractive interest rates, flexible repayment tenures, 100% financing and a quick and easy application process, we at Tata Capital help you get a step closer to your dream job.
05 November 2024
4 mins read
Previous Post
