Finances & gap years

Gap year and finances: information for parents

• Various reasons for taking a gap year

  Your child may have different reasons for wanting to take a gap year. Perhaps they need more time to make the right choice of study program. Or maybe your child is not (yet) ready to study and doesn't feel prepared for it. 

  Whatever the reason, it's important to listen carefully and don't let your objections or fears get in the way. Once it's clear what's going on, you can provide much better help. Ask your child what skills they want to learn during the gap year. It could be good for your child to become more independent and take on more responsibility, work on their motivation or mental health to study, make a well-considered choice of study program, or earn money to finance their studies. The question is: what is good for your child and what does your child need to be motivated to start studying?

• Planned occupation

  It's important to sit down with your child to make a plan together. This prevents your child from still being at the same point a year from now, as just having a job and doing some traveling won't necessarily get them on track. If your child hasn't made a choice of study program yet, schedule time to visit open days or participate in trial study days. If your child wants to travel, then sit down together to see how that can be arranged and what it will cost. 

  There are many organizations and coaches that can help plan a gap year effectively. Websites such as the Kenniscentrum Tussenjaar (knowledge centre for gap years) provide information on gap years. For example, the knowledge center offers the Gap Year Plan workshop, which you can attend together with your child. During this workshop, you'll learn about possible activities at home and abroad, how your child can use a gap year to increase the chance of academic success, the consequences and risks, and a step-by-step targeted plan.

• The financial aspect of university programmes

  When your child goes to university, the financial aspect can be a challenge. Nowadays, most parents have to financially support their children. This is especially true with rising prices, a lack of affordable student housing, and the costs of financial aid. You assist your child best by creating an overview and making a financial plan together. This removes a lot of uncertainty and helps prevent disappointment.

• The main costs for students

  The main costs that a student has to deal with are:

  • Tuition fees
  • Study costs, such as book costs and study materials
  • Living expenses, such as rent, groceries, insurance, phone, public transport, sports, etc.

• Tuition fees 

  Tuition fees

  There are two types of tuition fees for a study program:

  • Statutory fee;
  • Institutional fee.

  If your child meets certain conditions, they normally pay the statutory fee. If your child does not meet these conditions, then the institutional fee applies. This institutional fee varies per educational institution. The rates of tuition fees for Bachelor's programs at VU vary and can be found on their specific webpages.

  • Tuition fee rates Bachelor's programmes
  • Tuition fee rate (pre-)Master's programmes

• Study costs

  Study costs vary per program. Please contact the program for more information.

• Living expenses

  This cost item has the most variables and largely depends on whether your child is going to live away from home or stay at home. The Nibud (National Institute for Budget Information) has specific information for students. They explain everything about the financial aspects of studying, such as student finance, living away from home, borrowing money, earning extra income, and insurance. You can also download a handy Excel file to easily create a financial budget.

• Student finance

  Financial assistance for your child's study costs is available through the Education Implementation Service (DUO.). Currently, students are still dealing with a loan system that consists of the following parts:

  • Loan;
  • Public transport student card;
  • Supplementary grant;
  • College credit.

  Applying for student finance

  Applying for student loans can be done at DUO. All the information you need for that can also be found there. The interest on the loan is determined annually and therefore also costs money. Even though this may seem far off, a student loan can affect future income, for example if your child wants to buy a house. Important: always apply for the supplementary grant. DUO calculates whether your child is entitled to this grant, and students often have the right to the supplementary grant more often than they think.

• Student Support Regulation for additional support needs

  VU has a fund available for students who need extra support, for example due to a physical or sensory disability (paraplegia, hearing problems, etc.), chronic illness (diabetes, Crohn's disease, etc.), pregnancy or disabilities, such as dyslexia, autism, and psychological problems. The costs for this support are covered by VU's Student Support Regulation, and you can apply for this support at VU. 

  More information about studying at VU with a disability is available.