Financial matters

The average living expenses per month for a foreign student living and studying in Holland are between EUR 900 and EUR 1,100 per month. These living expenses cover rent, insurance, food, public transportation, books, clothing and other general costs. 

Costs within the first months upon arrival will be higher than all other months due to a housing deposit, intro week and books. Study books are usually bought at the start of the semester and therefore it is wise to reserve and have direct access to an amount at the start of the semester which can cover the price of all study books and the living expenses for the first two months. 

Dutch Immigration Service (IND) requires non-EEA students to proof they have access to € 900.00* per month for the first year of the study (living expenses € 10.800) before they start their studies. Exchange students have to count the months of the exchange period.
The student will receive a payment letter for tuition fees and visa costs through their study department. Only in the first year you have to pay the full sum in a single payment. As from the second year you can pay the tuition fee in instalments.

Besides this, the IND requirements concerning the financial proof of living expenses (900* euro per month) are part of the visa procedure. The student can prove this amount through bank statements but the money can also be transferred to the Fontys bank account. The amount transferred to Fontys will be refunded in the first month of your stay to you newly opened Dutch bank account. Both possibilities will be given to the student during the visa application procedure.

*subject to change

Euro

The Dutch currency unit is the Euro (i.e. abbreviated to ‘EUR’ or ‘€’).

Managing your finances

On one of the fixed arrival dates, you will be issued with information regarding the procedure for opening a Dutch bank account.

Not all Automatic Teller Machines (ATM’s) accept bankcards from other countries and, due to occasional computer problems, you may not always be able to withdraw money from your bank account at home.

Therefore, it is a good idea not to rely on being able to use your home bank account at all times and to open a Dutch bank account, particularly if you are planning to stay in Holland for any longer than five or six months.

mm/f/1/3/53407_fullimage_content_1k-225px-spaarvarken.jpg