Is there any way for an international student to get a loan in the Netherlands?
I'm American, but I would like to study at UvA. I know I can get funds through FAFSA, but the conversion rate is very high (the loan takes dollars and converts them to Euros). Plus, I would like to work in Europe when I'm done which means I can't start paying back my Federal loans (since I would need dollars to do so). Is there any way for me to get a student loan in Euros in the Netherlands?
Netherlands - 2 Answers
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1 :
The state sponsored programs only apply to EU citizens. There's a few scholarship programs which are outlined on the website. Do realize that, unless specifically indicated, all course are in Dutch.
2 :
I think you are not going to be lucky. First of all, FAFSA will only pay for selected schools/universities, all of which are in the USA. They might be able to loan you the money for an exchange, but not for a full study abroad. As far as I understand they do not even pay for a one year abroad. And to get a student visa abroad, in most or all countries you have to proof that you have the money for the whole year or even whole study before you get your visa. And that is going to be a lot more for a study abroad than for one in your home country, as the gouvernment is not going to subsidize you, neither your own nor the one in the country you want to study. Your best option would be a commercial bank, and I am sure that no European bank will loan money to a prospective American student, nor will banks in the USA be happy to send money abroad where you will be out of reach in case you fail to pay back. The conversion rate is against you at this time, but not in the way you explain. It is that for $800 you can live a month as student in the USA, but when you come to the Netherlands, that money is going to get you €550, while you need €800 to live from. Which means that you will need to borrow €1200 for each month instead of $800, that is besides the higher cost for tuition. If you had been studying 20 years back your dollar would have been worth more than our currencies, which made studying abroad not much more expensive than studying at home. But you live now and the exchange rates makes studying here almost twice as expensive as studying at home. And while you stand a better chance of getting a job in Europe when you have studies here, it is by no means certain that you will, and even if you find a job, you will still have to apply for a work permit and those are often denied. In that case you will have to go back to the USA and find a job there, which might be much harder with a degree from an unknown or almost unknown European university. Better study in the USA, where FAFSA can get you loans, where you might be able to win scholarships and apply for an exchange. If you are serious about wanting to work in the Netherlands in the future, start learning Dutch as soon as possible. You will need it and it is not an easy language to learn. PS, if you get a loan offer as answer to your question, on the site or as mail, be very suspicious, there are scammers that react on questions like yours, offering you the best loans with the least costs, but trying to get your information so they can steal from you.
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