Don’t let your student debt get you down

After graduating, you may still need to repay student loans to DUO. Do you think you might struggle? And how do you repay your loans?

How does it work?

You only have to start paying back your loans after two years, and you only make repayments for max. 35 years. Your monthly repayment is based on your income and how much student debt you have. So you don’t have to worry about having to pay back a large amount of money if you don’t have a job yet or if you have a low income. The current interest rate on study debts is also very low. See www.duo.nl for the most recent interest rate.

Can I get a mortgage?

As said, you don’t need to start repaying straight after your graduation, and you don’t need to pay more each month than what DUO has calculated. However, you may make extra repayments, which can be useful if you’re planning on buying a house. Having student debt will not prevent you from getting a mortgage, but your debt will be included in the calculation of your maximum mortgage amount.

Tip: Use the calculator function on www.duo.nl to find out how much you will need to pay each month. The average student debt is €13,700 In the Netherlands 1,400,000 people have a student debt