Students have improved financially but remain vulnerable: ‘Last time I bought clothes was October last year’

Wei-Yu was born in Taiwan, grew up in Belgium, and moved back to Taiwan at the age of 12. He is now studying International Business Administration in the Netherlands. Due to his Taiwanese nationality, he is not eligible for the basic grant. “It’s frustrating that many friends qualify for a grant and earn much more than I do for the same work. Even international students from the EU often get a grant. That feels very unfair.”

To make ends meet, Wei-Yu works about 30 hours a month at a Korean restaurant, earning 300 euros. “I don’t work much because my studies take up a lot of time. It’s also hard for me to find a job. Since I’m not from the EU, employers have to apply for a work permit for me, which costs them time and money. That often makes it unattractive for them to hire me.”

Because his income isn’t enough to cover his expenses, Wei-Yu uses savings set aside by his parents. “I have access to all the money my parents set aside for me, but I try to stick to a monthly budget of 1,250 euros. In many Asian families, it’s normal for parents to save for their children’s education.”

Wei-Yu shares an apartment with two other students, for which he pays 773 euros in rent. “Honestly, I don’t think my room is worth that rent, but housing is hard to find, so I didn’t have a choice. The high rent makes it even more frustrating that I don’t receive a basic grant.”

Due to his high fixed costs, Wei-Yu tries to save on other expenses. “My health insurance is low because I signed up with a provider specifically for international students. Last year, I had a free Swapfiets for almost a year due to an administrative error. I now pay 15 euros per month, which is still cheaper than public transport. International students also don’t qualify for student travel cards.”

He spends almost nothing on clothes. He finds it shocking that, according to Nibud, the average student spends 60 euros a month on clothing. “The last time I bought clothes was in October last year when it got colder. I bought a few good pieces to get through the winter and I’m still wearing them. Honestly, it’s also because I’m lazy – I find it exhausting to go into the city to shop for clothes. Saving money this way is just a bonus.”

Every summer, Wei-Yu visits his parents in Taiwan, which costs him 1,800 euros for a return flight. “I’d also like to visit them at Christmas, but that’s simply too expensive. I want to save money for other things, like holidays, so I have to make choices.”

Liselotte, a third-year Educational Sciences student, was one of the students who stopped receiving temporary inflation compensation this year. As a result, she now receives 164 euros less in basic grant than last year, but she hasn’t been significantly affected by it. “My income is high enough to get by. For me, it’s just a pity to miss out on those few hundred euros, but I have friends who are much more affected.”

Liselotte has been living in student housing for a while. “I have a really nice room near the university. I live with two housemates, and we each have a large room with a private bathroom. The rent is 680 euros, but my parents pay that for me. I’ve told them it’s not necessary, as I earn enough to cover it myself, but they still insist on helping me.”

Liselotte earns about 1,100 euros a month working at a motorbike shop. “I earn the minimum wage for my age, but since I work three days a week, I make a decent amount. The job is easy to combine with my studies, and besides earning a good salary, I really enjoy the work.”

Last year, she bought her first motorbike. “While saving for it, I set aside my entire salary and spent almost nothing. I only bought essentials like groceries. I completely avoided spending on clothes or going out. Besides the bike itself, I also had to save for my licence, motorbike gear, and a helmet. Now that I have the bike, I still spend a lot on petrol, insurance, and maintenance.” Yet, Liselotte feels it’s worth every euro. “I often use my bike to commute to work or visit my parents, but I also love riding it for fun in the summer.”

Motorbiking isn’t the only thing Liselotte spends money on. “I’m part of the student tennis club, go out regularly, and often join weekend trips with the study association. I also spend a lot on holidays. I think I spend about 300 euros a month on these activities.”

Despite her expensive hobbies, Liselotte has enough left over to save. “I try to put 500 euros a month into my savings account. I think it’s silly to spend all my money now – it’ll come in handy someday. Once I graduate and find a job, I hope to give something back to my parents for all the support they’re giving me now.”

Unlike students living away from home, the basic grant for students living with their parents has not been reduced. They receive 121.33 euros per month. Max, a first-year Psychology student, is still living at home. “I live in Rotterdam, very close to the university, so I didn’t need to move out. I’d like to live on my own eventually, but that’s not on the cards for now.”

Max doesn’t have additional income from a part-time job. “I haven’t found anything that suits me yet. I used to coach football for a small fee. I enjoyed it so much that I’d even do it voluntarily or for minimum wage. Most other jobs don’t offer enough satisfaction for what they pay. I’d rather not work than do something I don’t enjoy.” He plans to resume coaching next year as he combines his studies with a course from the Dutch football association.

Since Max still lives at home, he has very few fixed costs, and his parents cover expenses like groceries. He prefers to spend his money on his passion: football. “Last month, I bought expensive football boots for 130 euros and paid my club membership fees. I also have a subscription to an app for tracking football analyses. Beyond that, I spend almost nothing. I rarely eat out or go for drinks. Meeting up with friends doesn’t cost me anything, and I mostly see them online because most of them are studying abroad.”

He expects to spend more than he earns in the coming year but isn’t worried. “My grandparents have been saving for me since I was born. Plus, I managed to save quite a bit during secondary school by working as a football coach and spending almost nothing. That savings comes in handy now because I don’t see my student years as the time to save. I also don’t have any big financial goals right now. That can wait until after I graduate and have a proper income.”