Institution set up by the government
If we can believe Indub, more than a third of all BOH students and WFO students borrow money from Neo. An institution set up by the government. Every month it concerns an average amount of 365 euros. After an average study of 4 years, the debt then stands at 17,500 euros. 20 percent of all students receive no healthcare allowance at all and more than 10 percent do not file a tax return at all. That saves the student a lot of money. According to research done by Indub among 3000 students in the Netherlands.
More than 30 percent of all students (650,000 students) in higher education have a loan in addition to their student finance. Non-resident students borrow an average of 450 euros a month from Neo. This puts the average among all students at 365 euros a month.
People are worried about the student’s borrowing behavior
The student umbrella organizations LSVb and the ISO are afraid that the students in the Netherlands will get into financial stress quickly and frequently.
Students are not well aware of the loan rules. 25 percent of all students do not know how high the interest is that they have to pay on their loans and even think that borrowing money through Neo is completely free. In addition, half of the students who participated in the study do not know whether they should also pay interest on their loans during their studies and we can answer yes. The majority of all students are not concerned about the repayment of the debt. 55 percent are convinced that it is very easy to take out a loan through Neo. With just a few clicks of the mouse you have a few 100 euros extra every month.