Deductibility of study costs and training costs

Continuing your studies after secondary school is a sensible but also expensive step in a human life. First, every student in both vocational and higher education must pay tuition fees to the educational institution where he or she is following a course. On an annual basis, this currently amounts to more than 1500 US dollars. And that's just the beginning. For example, health insurance must also be taken out, study books and other study supplies must be purchased and the room rent must be Demorei every month. Add the cost of living to that, and chances are that the student grant he or she receives is not sufficient for the average student. This article provides helpful information about student borrowing opportunities.

One step too far?

The Ministry of Education has conducted research into student borrowing behavior. This research shows that students generally have regular overdrafts on their bank account and do not find this a problem. However, taking out a loan goes a step further and they prefer not to do that. A student loan is only taken out if there is really no other solution, while overdrafts are proportionately much more expensive. Nevertheless, there is a tendency for students to take out a loan more quickly in recent years. For example, the number of students who have taken out a (small) loan has increased by more than 50% in the past 3 years.

Where can students borrow money?

At the start of the study, students receive a basic and possibly additional grant from the Informatie Beheer Groep. If this is not sufficient to cover all costs, a loan must be taken out.

Students generally borrow in two different forms:

Borrow money from the same IB group.

In addition to student finance, students can take out a so-called student loan at this government institution. This monthly payment can be obtained at a very favorable interest rate and the payment does not start until after the study. Repayments may also be accelerated without penalty if necessary. The disadvantage is that it is therefore a monthly supplement that is subject to a maximum. So no (large) amount is released in one go.

Borrow money from commercial institutions.

Banks and other lenders often offer special rates and / or packages for students. However, the interest rate on these loans is on average a few percent higher than that of the Informatie Beheer Groep . After the study, the loan is often converted into a revolving credit with an even higher interest rate. However, there is also an advantage: it is not a monthly benefit. An amount is released in one go and for larger expenses for which saving is not possible, this is of course a requirement.

In view of the large differences between these two types of institutions, it is therefore important that a proper assessment is made before taking out a loan. If a large amount is not necessary, a loan through the Information Management Group may be a good and cheap alternative for the commercial institutions.

In addition to obtaining the basic grant, there are various loan options from financial institutions, but a common solution is that the parents contribute to the study costs. The great advantage of these private contributions is that they are deductible up to a certain amount from the taxable income of the paying parent. Here you can read more about the tax deductibility, study costs paid by the parents and training costs paid yourself.

Deductible study costs.

Parents can deduct the cost of living for the children up to the age of 30 from the tax. This maintenance therefore also includes tuition fees, textbooks or training costs. It takes a lot before the parents have reached the maximum deductible amount and all costs must be demonstrated. In addition, the student must live away from home and be largely financially dependent on the parents. He may not earn additional money or borrow money from the IB Group . Another option is that the parents make a tax-free donation to the student every year. Once only, that amount itself can be drastically higher. Many tax benefits can also be obtained with an interest-free loan from parents to students.

Deductibility of training costs.

Under the heading of training costs, all expenses related to a training or study with which an income can be acquired later through work. The expenditure must be directly related to the relevant study program or field of study. The training costs are deductible if the training that is followed is necessary to be able to practice a suitable profession after completion. In addition, the study must serve a purpose, such as improving the financial-economic or social position or maintaining professional knowledge and skills. A maximum has been set for the deduction of training costs, which is income-related.

The deductible items include study and tuition fees, study materials such as books, readers and even computer costs. However, note the following. The deductible item on computer equipment can be submitted if it meets a number of requirements. The computer must be used for study purposes of the current study, it must have been purchased by the taxpayer and the purchase price must be average. The depreciation amount can then be deducted from the tax in these situations. Overall, financial contributions from the parents in their child's study can still be a fairly attractive business, provided both parties can find an appropriate agreement.

Borrow money easily without hassle.

Borrowing money easily online is becoming increasingly popular nowadays because you have a quick overview of the various credit providers, and can compare their options and conditions on interest, term, and monthly repayment. When a provider appeals to you, you can request a quote directly online. You will then receive the quotation by e-mail fairly quickly. Also actually taking out the loan online is very easy via the internet. Borrowing easy money online is often cheaper than when you personally visit a bank or adviser.

Because consumers are increasingly looking for convenience! Do you also want to borrow without fuss and borrow money directly online? If you need extra money to replace a broken washing machine, dryer or refrigerator, for example, or to pay an urgent invoice, it is ideal if you can easily borrow money in a short term. You can apply for a loan below 1000 US dollar and have it deposited into your account today because no BKR test is required. If you want to take out such a mini loan of, for example, 750 US dollars, you can have the money in your account within an hour. Recent research has shown that borrowing money easily is a trend and is expected to continue. Currently there are many providers online and offline where you can easily borrow money.

Loan for students.

Many students look around almost every day for opportunities to earn or borrow something extra. Student loans have been popular from the start. How could it be different? Students have a busy study and often cannot manage to have a side job in addition to their studies. With demands that keep getting higher and the bar that is being raised, it is not easy for students today. A student loan is often a relief and a convenient way to borrow money easily.

Student finance alone is not enough, you are encouraged to study because studying is investing in your future. However, as soon as it comes down to it, it turns out that the government is giving you a basic grant that is simply not enough to cover your tuition fees, let alone book fees, study materials and laptop. Students usually receive 93 USD basic grant per month while your tuition costs alone devour around 120-130 USD per month. So what most students do is apply for a special student loan. Such a loan is more attractive because this loan is specially composed for students. The bank wants you as a customer and you get a relatively cheap student loan. Student loans are there enough in the form of a student loan or student credit that you can choose from? You can read that below.

In 2017, more than 8 out of 10 students took out a loan. So you are certainly not the only one and a loan is seen by students as the most normal thing in the world. Banks are happy to lend students because they want to bind you as a customer. The average loan for 2017 was an amount of € 5,600 over the entire 4-year study career. So 115 US dollars per month.

IB-Groep and the bank

You can first take out student credit or another student loan with the Information Management Group (IBG). This is also recommended because they require the lowest interest rate of all lenders (3.56% in 2009). IB-Groep offers you a basic grant that is nowhere near enough to pay for your entire study. An additional grant is what most students therefore apply for. In this new window you can calculate the maximum amount of additional grant you can borrow from the IB-Groep. If you cannot borrow enough from IBG, you can always go to the bank for a special student loan or student credit.

Low interest costs result in the advantage that you as a student can earn with interest investments. An example: you have taken out a loan of 5,000 US dollars with 3.5% interest. Your interest is therefore 175 US dollars per year. Suppose you can put that 5,000 US dollar somewhere in a 4.5% savings account, yes that is possible, then you have 1% of 10,000 US dollar is 100 US dollar profit per year. At such a large amount that sounds like nothing, but for a student 100 US dollars a year is a lot!

Is a student's credit tax deductible?

No, for a few years now the interest on student loans has no longer been tax deductible because it is a consumer good.

How do you deal with money.

Even though it is so easy and quick to get done, 5000 US dollars in the bank, remember: it is still borrowed money. Money continues to cost .. yes… borrowing costs money! So do not suddenly grab 10 beers more during the weekend because you just took out a loan. Don't suddenly buy more expensive designer clothes, keep cooking your own meals. Continue to use the loan for which it was originally created, student finance.

Avoid money problems.

Taking out a loan easily is a piece of cake for students. But there is the catch, so easy if you take out a student loan, so difficult that you get rid of it if you do not complete your studies and the basic grant is not waived and you cannot find a job. If you opt for an additional grant / loan, make sure that you will obtain your diploma within 10 years. Without a diploma and with two loans, that is endless repayment of your student loan.

Borrow with benefits.

People who receive benefits (Social Assistance, WW, AOW) are usually not eligible for a loan. The reason for this is because the income is simply too low and would fall below the legally permitted minimum due to the repayments. For this reason alone, borrowing money easily with a benefit is not wise, and if a loan is nevertheless necessary, it is time to look at alternatives, because there are also many options for borrowing money easily with a benefit.

If you receive a benefit from the Social Services or the UWV, you can appeal to the possibilities of these organizations. The social service has the Self-Employed Assistance Decree (Bbz). This law provides that someone from social assistance benefit can submit an application for a business loan up to US $ 30,600. In addition, it is possible that your benefit will continue if you cannot generate enough income from the company in the beginning. For this you must show a well-substantiated business plan. More information about this can be obtained from the Self-Employed Team of the Work and Income Department. The UWV has, among other things, the Decree on Starter Credit for Disabled People (Bsa). This Act broadly corresponds to the Bbz described above and is intended for persons with a (partial) WAO benefit. People with unemployment benefits can, where appropriate, appeal to the Bbz scheme of the Social Services. For more information, please also visit the UWV website.

Borrowing with benefits becomes possible when people go beyond the regular loan traffic via banks and regular credit providers. So-called pawnshops can then offer a solution. This is very simple and the advantage of this loan form is that you immediately have cash. You must, however, take into account the fact that if you wish to return the collateral, you must repay this amount plus interest. If not, you will lose the collateral and it will be sold.

It is also possible when you borrow from family or friends. This is called a private loan, which is a nice name for a loan between two private parties. Even if it is not possible to borrow from family or friends, such a loan can still be obtained via places such as a marketplace and contact advertisements in daily / weekly newspapers.

Loan through the government or city bank of loan.

Because borrowing with benefits is not possible in the regular manner, there are forms of credit that claimants can apply for, from the paying agency or, in the event of personal bankruptcy, via the city bank. These applications must comply with strict rules. Taking out financing for a new car, for example, is therefore not an option. If it concerns necessary goods such as a washing machine, bed or other necessities, it is quite possible that such a loan will be provided to you, or in some cases even paid out as a one-time benefit that you do not have to repay. In such cases, it is always worthwhile to request a meeting with your contact person at the benefits agency.

As you can read, there are also options for people entitled to benefits to obtain a loan in certain situations. These then go through the regular channels, but through specially created rules and authorities, such as the city bank and other authorities. In many cases, it is not even a loan but a one-off amount, to which benefit recipients are entitled under certain circumstances. In short, borrowing with benefits is possible in special cases.

Borrow money privately.

This form of easy borrowing is the solution for a number of cases where you can no longer go to banks or other lenders. Borrowing money privately without a deposit is often seen with borrowers who can no longer easily borrow money with BKR listing and therefore can no longer go to the official financial authorities. However, there are plenty of people who borrow some from family members, not so much because they can no longer get credit from their home bank, but usually see it as the way to borrow money quickly and cheaply. Especially with smaller amounts, it is useful because only a brief question of a family member or a (very) good acquaintance is sufficient. That is, of course, different from the large lenders. But larger loans are also taken out under the radar of the BKR (Credit Registration Office).

The advantage

is not only the speed with which something like this can be arranged mutually, but also the conditions for the loan and its repayment. These can be very beneficial for the borrowing party. Whether it is so beneficial for the other party remains to be seen. Of course, it will primarily be the parents or other family members who can help their child out of need, but there is certainly another group that may be able to offer you a solution.

There are many wealthy individuals who own money and would like to lend it. People who find the return on a deposit account too low and the risk of loss on the stock market too great. Many millions of US dollars are available in this way. And as is usual with a bank, judgments are not based on rigid and very impersonal criteria. Not infrequently, sympathy alone determines the ultimate granting of credit.

People who have dirty money and cannot do anything with it because of the tax authorities. However, the latter group is very difficult to find. After all, they are not going to advertise that they still have something lying around that they have forgotten to declare to taxes. Do you not know anyone who can help you out and who will be willing to do so? Think again. Usually you will still know lenders in the circle of friends without knowing it!

Alternative loans.

If you don't know anyone you want to borrow, there are certainly alternatives. Of course you can be sure that you are not eligible for a mini loan, also known as a mini credit or flash loan. After all, you can also borrow money with BKR listing. The options are very limited, yes, but there are still plenty of banks or other lenders who want to lend you money despite a BKR registration.

Pledge.

If the above methods are not an option, then what? One more option is then open to you: the pawnshop. You lend something of value such as an expensive watch, an (antique) case, camera, iPad or, if necessary, your car.
You will receive an amount that represents the value currently for your assets in the form of a loan. If you repay on time, including the interest, you will get your collateral back. In the unlikely event that you are unable to do so, the ownership will revert to the lender.

Conclusion easy borrowing money

You can best judge for yourself which of the above easy money borrowing methods is most suitable for you. It all depends on your own income position and whether you have a permanent job or not. You can also easily borrow money with debts or a BKR listing.

If you are going to borrow money online for that beautiful engine, a great holiday or a new car, you should prepare yourself well. Taking out a loan is a big step and it is important to have all the pros and cons clear. If you have decided which online loan best suits you and your financial situation, it is still the art to choose the best lender. To help you on your way, the information below about borrowing money online

Borrowing money is quite easy and does not have to be expensive. The online money loans are a good example of this. Because the loans are offered online, comparison between the different types has become much easier. As a result, the consumer has also become more articulate and really does not garden everywhere. However, it is important that the consumer is attentive at all times and also looks for the fine print that can also be seen on the internet. When this is followed, borrowing money online via the internet is a lot easier.

If you want to make responsible use of online borrowing, it is useful to calculate in advance how much money you can borrow online. There are various calculation programs for this that can be found on the internet from the various providers of online money borrowing. Then there is the option to request a quote. When you request a quote, you will receive it by e-mail within a few minutes. Subsequently, one can compare the different offers from the providers in a fairly simple way. Also pay attention to the determining conditions and rates that are used exactly. When the comparison has taken place, you can immediately apply for the loan online. This saves a lot of time and makes it much faster to dispose of the amount of money.
Borrow money online, The Lenders

A big advantage for the online lenders is that they save on costs for housing and staff through their method. As a result, the consumer is often one or even two percent cheaper than with a comparable loan from a regular bank. That doesn't seem like much, but on a loan of, for example, 500 US dollars, this quickly means a difference of several dozen US dollars. The conclusion is that borrowing money easily is worth it.

Apply for a student loan online

You have finished high school and you want to study in college. Or maybe you are planning to do a higher vocational education, because you have now obtained your MBO diploma. These higher education costs a lot of money, and whoever goes to study will of course also live in rooms, which is why there is the possibility to borrow. Many prospective students are at a loss when they learn what the costs are to follow a study. You do not have the time, energy and desire to work for a year to pay for your studies and unfortunately your parents cannot help you either. Fortunately, there are plenty of options for solving this problem, and perhaps the most obvious one is applying for a student loan. There is often some fear when talking about a student loan, but it is not that strange. There are many graduates who have successfully completed their studies by taking out a loan. We advise students to read carefully about student loans so that wise decisions are made. That is why we have also created this website: to inform you objectively about everything related to student loans. We hope that after reading this site you can say with certainty that you have made a decision that will benefit you for the rest of your life. But actually we are already convinced that it will work out fine.

Student loan

Informing you as a prospective student about student loans is the most important thing we want to achieve with this website. There is a lot of information on the internet about a student loan, but you never know which information is really important and truthful. We hope to change that for you. Not only do we provide objective reporting, we also provide a clear picture of all the options you have as a prospective student. A student loan should only be applied for after long deliberation, you don't just do that. Student loans are different from normal loans, keep that in mind. The interest you pay on a student loan is lower than with any other type of loan. That sounds nice and it is. You really have to be a student to get a student loan, so not everyone is eligible.

Borrowing circumstances

There are many circumstances that help determine what your student loan will look like and whether you can get one at all. First, it is almost always a requirement that you do a college education or study in university. With a lower education, a student loan is not really an option, there are few providers who start with it. If you do qualify for a student loan (so you probably do HBO or WO), the study you do also determines the type of loan you receive. In addition, your parents' income, your home situation, etc. play an important role. A student loan is therefore not a fixed loan for everyone, but such a loan depends on many different factors.

Cost of a student loan

Nothing is free in this world and that certainly applies to the student loan, but unlike a regular loan, a student loan is not expensive. There are options where you only have to pay little as a student. Indeed, fortunately. A few providers even offer the option for a free loan if you complete the study in one go. Those are the options that you would like to read more about and we will certainly let you do that on this website. Go quickly to the other pages on this site to learn more about borrowing as a student.

Student grants

We have of course started this website to inform you about student loans . Still, we thought it would be nice for the visitor to get more information about financial matters surrounding a student. An important part of this is student finance. Student finance is a monthly amount that a student receives from the government in his account. So it is a kind of helping hand from the state, very nice. The amount of that amount of money depends on various factors, including your home situation and your income at the moment. It is very important that you are well informed about your student finance so that you do not miss out on money. We hope to help you with this, so that you also receive a nice amount for free in addition to a loan. Because let's be honest, don't we all want that?

DUO

DUO stands for Education Executive Agency and DUO is part of the Ministry of Education, Culture and Science. In short: DUO is the government. You can apply for student finance at this institution. As you can see on the website, this procedure is based on a number of questions. Which training do you do? How old are you? How much do your parents earn? Answers to such questions determine how much money you will receive as a student grant. So you only have to answer the questions on the site and the result will follow automatically. It couldn't be easier.

No catch

With these kinds of messages about 'free money' you immediately get the idea that there is a catch. But that is absolutely not the case with student grants and there is a simple reason for this: this is offered by the government, not by a commercial institution. You can therefore go after the stufi with confidence, you will not be fooled. It is a monthly contribution from the state to your wallet, you must be interested in that.

Loans

You may know enough about loans and student loans by now, but then you come back to the next question: what should I ask for a student loan? The answer is not that simple, partly due to the dozens of student loan providers that you can find in the Netherlands. In addition, we cannot choose for you, because your own opinion is quite important. We can, however, make a selection from all those banks that offer loans for students, and we did. We think the sofas below are the best options for you. We have added an explanation for each bank, so that you can make the final choice yourself. But rest assured: you're in the right place anyway, the sofas below are excellent. We also keep this page very up to date, so you don't have to worry about any changes to the mentioned student loans.

Can I borrow money without income?

You can borrow money without income. There can be several reasons why you can no longer work. It is important that you can still get money. It wouldn't be fair if you can't borrow money because you don't have a job. People are a lot more reserved about this and you cannot just borrow money everywhere, but that is because people want you to be able to pay everything back on time and if you have no income, where is that certainty?

Yet it is possible that you will borrow money if you yourself do not have security or no longer receive any income. You can be married to someone who does have income and then you could see together how you can borrow money without income. Take a look at the possibilities together and experience for yourself what is most attractive to you. Would you like to borrow money without income and do you think you can handle all these concerns? Then you could give it a try and don't borrow too much, but make sure you first check whether you can pay back this amount on time. If you are sure, you can get started with a higher amount that you want to borrow. Maybe you want to invest in something and you want to develop a product, if that starts to run, you can borrow the money immediately and quickly refund the amount.

Borrow money without asking.

Borrowing money without income can be very useful. You may want to set up something, but if you have no income it can be difficult. Yet you should also get a chance to make your dreams come true, that is why borrowing money without income has been made possible. It is important that you know what you are going to do when you borrow money. The first thing to consider are the terms and conditions. Do you think it would be helpful for you to get started with these opportunities? If you are unsure whether you can repay the amount on time, you must first keep a clear plan at hand so that you will at least ensure that everything can be paid back on time. After all, it is quite a responsibility that you will take if you have no income to still have a loan. However, you also need to look at the positive aspects and realize that you can now make something of your life and invest in something you would like, who knows what that will yield for you. It's about people daring to take a risk in life. Therefore, now go and see what the easy borrowing money entails for risks and also consider the benefits and then make the choice, borrowing money costs money anyway, but it can be beneficial for you.

How can you borrow money without income?

You can borrow money quickly , you can be married to someone else and they can then give you the certainty that you can still pay back the money on time. But what is the reason that you want to borrow money within a minute? It could be that you would like to know what the possibilities are, then you can request them. There are several lenders you can go to if you want to borrow money without income. But you have to think about the consequences, you have to be able to repay everything on time, but you also have to think about the interest. If you have no income and still need money, they can just start paying a high amount of interest, because they know that you would like to have money and they can benefit from it again! Therefore, check now what the options are for borrowing money within 1 day and only do it if it is responsible. Do you have someone on hand who can pay if you cannot pay it back on time? Otherwise, you will run into even more problems and you are not supposed to borrow money and end up in debt and then be unable to borrow anything. Therefore, think carefully whether borrowing money is a good choice for you and read the conditions carefully, if you think it is useful, fine then you can do it, but you are and will remain responsible.

Borrowing money without interest as a student

Borrow money as a student ? That's a breeze with the information you can find on this site! As a student you don't want to pay too much. After all, as a student you can use the money hard enough! There are a number of sites that can provide you with an interest-free loan. Unfortunately, due to recent legislative changes, a number of things have changed and there are fewer providers of these interest-free loans. But we still have two good providers of these interest-free loans that we are happy to recommend to you. The providers we recommend are LendNow and Cashper

Where we find LendNow the most interesting!

Both sites give you the opportunity to borrow money as a student quickly and cheaply. The disadvantage of both sites is that relatively little money can be borrowed, which is why they are called mini loans. For example, the maximum at Cashper is 1000 US dollars and at LendNow you can borrow a maximum of 800 US dollars.

Borrowing money without interest as a student.

As we have already mentioned, LendNow is the site that we recommend for taking out a mini loan. LendNow can provide you with an interest-free and free loan for a maximum of 31 days. These loans are therefore completely free of costs if you repay on time. You can determine the term of this loan yourself, with a maximum of 31 days. The big advantage of this site compared to Cashper is that loans on this site are free and that a longer term can be agreed. So that you have more time to repay the loan.

Cashper can provide you with an interest-free loan. Cashper does, however, charge a service fee. In relation to the money you can borrow, this service costs are low. For example, if you want to borrow 750 US dollars, you only pay 40 cents in service costs. You must then repay a total of USD 750.40. The disadvantage of these loans with Cashper is that the term of these mini loans is only 7 days. The borrowed money and the service costs must therefore be on their account 7 days after the invoice date. Due to this short term, it is best to use Cashper if you run out of money at the end of the month. Another downside to Cashper is that they require you to earn at least 1100 per month. We also understand that this is not really feasible for most students, so we find LendNow more interesting.

Mini loans in Belgium

If you come from Belgium, we recommend that you use Funding Square Bank Direct Cash . With the Funding Square Bank Direct Cash credit you can borrow from 500 US dollars for a small fee. Unfortunately, the mini-credit market in Belgium is not as well developed as in the Netherlands and interest-free borrowing is rare or uncommon.

We recommend that you pay back the loans as soon as possible as after the term of the loans, money will be charged for the amounts borrowed, by both Cashper and LendNow . If you pay back too late, these 'nice' loans suddenly become a lot less fun, so pay back as soon as possible! So always make sure that you borrow money responsibly and can also repay the amount you borrow.