The first students will start using the new loan system from September. What consequences does this study have for the later mortgage debt?
Basic grant becomes loan
The more than 150,000 new Bachelor’s and Master’s students who are now starting their studies will have to deal with the new-style student finance.
In this basic grant becomes a loan from the government. Students can borrow a maximum of € 1016.71 per month. The Minister calls it a student loan, but it is of course a student loan.
Student debt is rising
The expectation is that the study debt of a large group of students will increase considerably. The average study debt is currently € 15,000.
The Central Planning Bureau expects the average study debt to rise to € 21,000. The National Student Union takes into account a doubling of the average student debt.
The study debt is not registered with the Credit Registration Office (BKR)
Loan conditions relaxed
The government also takes the higher study debt into account and has eased the loan conditions. For example, the study debt can be repaid in 35 years (now 15 years) and the repayment amount is never more than 4 percent of the annual income. The loan interest rate is close to 0%.
Consequences for the mortgage
Assuming a mortgage with study debt remains possible. A student loan has consequences for the mortgage. This is because the financial obligations are taken into account when calculating the maximum mortgage. This also includes a study debt. We make a comparison between the old and the new situation.
0.75% (on a monthly basis) of the study debt of current and former students is deducted from the permitted funding burden. This is based on the original study debt (and not the current one). With an average study debt of € 15,000, the permitted funding burden is reduced by € 112.50.