The basic grant for students was abolished in 2015, but was reintroduction after protests eight years later. As a result, people who live, have since been entitled to almost € 440 per month of the Education Executive Agency (DUO), while at home living at home more than € 110 per month.
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By comparing large numbers of transactions, ABN AMRO can see that first-year students with a basic grant in the academic year 2023-2024 started to borrow less money than first-year students in previous years that did not receive such a monthly amount. According to the bank, students also started working fewer hours in that academic year, although they still often have a part -time job in a European point of view. In addition to the reintroduction of the basic grant, they may also make fewer working hours, because the wages have gone up considerably.
Less financial stress
“Students from the 2023-2024 academic year will receive lower study debts and experience the financial freedom to work fewer hours,” said ABN AMRO researchers. “Both aspects are important for the reduction of financial stress among students who was experienced as high. This was the main reason for the reintroduction of the basic grant.”
But according to the researchers, students can also still get financial stress from other things. “Such as increasing costs of living, rising interest rates of student loans and developments in the housing market.”