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 every month if you don’t have a job yet or if you have a low income. The current interest rate on study debts is also relatively low. See www.duo.nl for the most recent interest rate.

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.

What are the repayment conditions of DUO? Does DUO take your salary into account? Are there possibilities for repaying less or more, if needed? In this webinar, DUO provides more information about the subject (in Dutch).

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If you have any questions about your personal circumstances, you can always contact DUO via www.duo.nl.

(Source: CBS)

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