(Netherlands): The Social Loan System Makes Us Look a Bit More like the US

[unhappycamper]

http://watchingamerica.com/News/240036/the-social-loan-system-makes-us-look-a-bit-more-like-the-us/



The Social Loan System Makes Us Look a Bit More like the US
Trouw, Netherlands
By James Kennedy
Translated By Anne Hukkelhoven
31 May 2014
Edited by Gillian Palmer

Will the student loan system, announced shortly before Ascension Day, bring American conditions to the Netherlands? In the Anglo-Saxon world, many students are cornered by sometimes sky-high debts after their studies. Although the effects might turn out better than expected, the Dutch system is becoming more and more similar to that of the United States.

Of course there are important differences. American universities are very expensive. The average annual cost for a bachelor’s degree at a private university in the U.S. is 33,000 euro. At New York University, one of the most expensive, a student pays 44,000 euro per year. If you want to study cheaper, you can go to a state university. Residents of that state get an education at a reduced rate: on average, 17,000 euro per year.

However, many scholarships are provided. In the Netherlands, students whose parents earn less than 46,000 euro per year will receive an income-dependent scholarship. In America, many more students receive scholarships, even when their parents earn more. The amount of the scholarship often depends partly on the talent and grades of students and partly on their financial situation. When I studied, I only had to pay 40 percent of the actual costs of my degree, housing and meals. The rest was reimbursed by the scholarship I received. Students often choose the institution with the best “deal.” In this regard has a “social” system like Minister Bussemaker’s long been in place in the U.S.

Debt Problem

In both countries, debt after graduation is becoming more and more similar. Bussemaker has calculated that the average student debt will increase from 15,000 to 21,000 euro. That last amount is also approximately the average debt of an American student after earning a bachelor’s degree.