One out of three Dutch students rather refrain from borrowing money. Instead they work a bit extra, or they just stay home instead of going out.
The Dutch bank ING examined the way that students cope with money. The results were presented last Thursday.
The researchers have a warning in store for the Dutch government. If they continue with the budget cuts on student grants, then a group of students might quit studying altogether. When the grants are lower, students need to borrow more money or work harder to finance their education. This, however, increases the chance of getting behind with the curriculum. Next year there will be a fine for students who are not reaching educational targets on time.
About half of the students predict that when they are done with their study, they will be indebted. On average, they expect to have a debt of 15.000 euro. Two out of ten students admit that they spend too much money. In the capital Amsterdam, 29% of the students admit they are overspending.
Students value their financial situation with seven points (out of ten). To protect themselves, 42% has blocked the option to be in the red on their bank accounts.