Borrowing money: student and borrowing

As a student you often have to deal with insufficient money. You can take a side job to supplement your income. If that is not enough, there are various options to get more money during your studies. For example, you can take out a loan or take out credit under special conditions. You can also overdraw more on a student account than on a normal bank account. Once you graduate, you will earn an income that will allow you to easily pay everything back.

Options to borrow money as a student

There are several options for getting extra money as a student. You can contact various credit providers to take out a special student loan. It is also possible to have an extra overdraft on the bank as a student, under special conditions. The reason why this can be done quite easily is the future perspective of most students. After your studies, you can easily find work on the labor market and later in life you will earn an income that is well above average. Repaying a loan is then no problem. The following options are explained below:

  • the student loan
  • the student loan with BKR registration
  • the student credit
  • a loan from DUO
  • overdrawn student account

The student loan

As a student you can take out a loan from virtually all banks under special conditions. Such a loan is then called a student loan. The reasons why banks readily provide loans under special conditions to students are related to the expected positive financial situation of most graduate students. Customer loyalty with students is the second important reason why banks provide loans to this target group under favorable conditions. Once you are with a bank, you do not quickly switch to other banks. These two reasons are why students can get a lower interest rate on a loan.

The student loan with BKR registration

In principle, as a student you can also get a loan under special conditions if you have a BKR registration. The interest rate will be slightly higher than for a student loan without BKR registration. This is because the lender builds a risk surcharge into the interest rate, which makes it slightly higher. You can compensate for these extra costs by taking out slightly lower loans, so that the total costs are the same as a normal student loan.

The student credit

A student loan is a revolving credit with special conditions. The big advantage of this credit is that you can quickly access several thousand euros. The disadvantage is the higher interest rate, which is somewhere between 8% and 10%. The big advantage is the speed with which you can access the money. You only have to repay the loan after your studies. During the study, the interest on the amount withdrawn is simply credited to the credit. After your studies, the student credit is converted into a normal credit. A consequence of this is that you will have to repay a certain amount every month. If you want to take out such a loan, compare all providers carefully to get the lowest possible interest rate.

A loan from DUO

In addition to your student loan, you can also take out a loan from the Education Executive Agency (the former IBG). As a student you get a very favorable interest rate on this loan, which is often between 2% and 3%. During your studies, the interest is credited to the credit. The loan will be paid off within two years after your graduation. The big advantage of a loan from DUO is the low interest rate. The disadvantage is that you can borrow a maximum of a certain amount. If this maximum is not enough, you can go to another lender to take out a student loan, for example.

The student account is overdrawn

You can overdraw on a normal bank account, but overdraw on a special student account is cheaper. The interest rate for overdrafts on student accounts is approximately 5% lower than on a regular bank account. The overdraft limit is also higher than with a regular bank account. You can overdraw up to approximately 5,000 on a student account. On a normal account this is often no more than 1000.

The pros and cons of borrowing as a student


  • you can get a loan at a better interest rate
  • With a loan from DUO, nothing is registered with the BKR
  • With a student loan you can withdraw a lot of money quickly


  • If you need a lot of money you cannot go to DUO
  • a student credit/student loan is registered with the BKR
  • If you do not find a job within a year after graduating, you may find yourself in financial trouble