Combatting Money Worries: How Schools Are Offering Financial Aid to Students

Students lying awake because of money worries. Thousands of dollars in debt. Or can’t afford their school books and therefore stay at home.

Daily food

It’s everyday fare, says Mia Wilsterman. She has been a poverty officer at Zadkine College in Rotterdam for the past two years and has a full-time job offering financial aid to MBO students. “We see a lot of money problems among our MBO students, a quarter of our students. And the group is getting bigger,” says Wilsterman.

It’s actually bad that my position is needed, she thinks. “But if the students don’t get help, the problems will only get worse. With all the consequences that entails. They drop out, miss social contacts. We really want to prevent that.”

The Rotterdam school gives special money lessons in the regular curriculum to educate students. Teachers are specially trained for this. “We teach how to handle money and tell about schemes that MBO students can use.”

And the Rotterdam school does more money aid. “Students who need help can contact us. We provide information, assist and possibly refer them to professional bodies.”

Money problems

The cabinet wants many more schools to do this and is therefore making millions available. Schools can use this money to offer money lessons and money aid to young people. They can train teachers for this or hire extra staff.

Starting with MBO schools; because that is where the problems are greatest. A quarter is struggling with money problems. From the summer, MBO schools can register for this scheme. Eight million will be released for this purpose this year. Next year primary and secondary schools will also be eligible and the wallet will be pulled further.

Leaving money behind

There is still a world to be won, says Rotterdam poverty official Mia. Because: “A little help can make a big difference.” MBO students are also more likely than average to deal with payment arrears or debts.

Research shows that students in secondary vocational education often miss out on money that they are entitled to. For example, one in three does not apply for a healthcare allowance. As a result, they lose more than 1000 euros per year. In addition, only one in three students file a tax return.