Financing options for education
You have found the training that best suits your learning goals and ambitions. But how do you finance this? There are different ways to do that. Your employer can play a role, but there are also interesting statutory regulations that you can use yourself.
We list the possibilities for you. In general, there are 3 options: your employer invests in your education, you do it yourself or it is a combination of both.
When your employer invests
Following one of our programs provides benefits for you and your employer. Your employer directly benefits from the new knowledge and skills you gain, such as the paper(s) you are going to write about current issues within your organization.
That is why employers are often willing to invest in training their employees. Many of our participants receive (part of) the costs reimbursed by their employer. The costs incurred by the employer can be deducted from the result as operating costs.
How do you convince your employer to invest in your education?
It is important to focus on the benefits for the employer. Therefore focus in your argument on the growth of the organization and your role in it. We have listed four arguments that can help you with this.
- Your employer gains an employee with increased confidence and relevant knowledge
Our TIAS programs are intensive programs. You will not just develop your knowledge, but also—and mainly—yourself. You will learn to approach your work differently, develop decisive leadership skills, gain in-depth knowledge in your field, develop a strong academic foundation and improve your decision-making skills. Your ongoing professional development is guaranteed to make you a better employee and co-worker. It will also make you a stronger discussion partner, both within the organization and in dealing with clients or external partners.
- Your employer gains the latest scientific insights and best practices
Does your organization want to be a leader or a follower? If the answer is 'a leader', your employer will need to have access to the very latest insights to avoid falling behind. Your education is the solution. TIAS programs give you access to the most recent scientific insights and the best practices of leaders in the industry. By applying your newly gained knowledge, you bring new perspectives and solutions to your organization, putting it ahead of the competition.
- Your employer can use your education to solve strategic issues
As part of your program, you will be working on assignments taken directly from your own experience and organization—your papers and cases, but also your Master's thesis with which you finish your degree. Your thesis is a well-researched analysis of a key strategic issue within your organization, its quality guaranteed by our professors' supervision and advice. As such, it is highly valuable to your employer and will make you an effective internal consultant.
- Your employer invests in your motivation and loyalty
As Richard Branson once said: “Train people well enough so they can leave, treat them well enough so they don't want to”. Employers who offer their employees plenty of opportunities to develop themselves are more likely to gain their employees' loyalty. Acquiring knowledge motivates people, after all. And motivated employees are excellent employees.
When you invest yourself
If you finance (part of) your education yourself, there are various options and interesting legal regulations that you can make use of. We list them for you.
You can also spread the payment for the training over several installments, sometimes also over several years. TIAS likes to think along with you: contact your Program Adviser to discuss the possibilities.
TIAS is registered in the CRKBO Register of Institutions. This means that our courses are exempt from VAT.
STAP-budget - from March 1, 2022
From March 1, 2022 you can use the STAP-budget. STAP stands for ‘Stimulering Arbeidsmarkt Positie’ (translated: 'Stimulation of the Labor Market Position'). With this scheme you can receive a subsidy of up to € 1000 per year (including VAT) for following a course. The courses at TIAS are exempt from VAT. In this way, the subsidy will benefit as much as possible for the training you want to follow.
The government makes 200 million available annually, with which an estimated 200,000 people can pay for (part of) their education. Most courses and training costs fall under this scheme. The budget is divided into six application periods each year. After the STAP-budget has been allocated, TIAS will receive the amount and this will be deducted from your training costs.
The STAP-budget is intended for natural persons with a connection to the Dutch labor market. Everyone is eligible within this group, but it is checked whether you:
- are older than 18 and younger than retirement age.
- does not receive a student grant, teacher grant or allowance for school costs for adults at the time of the application.
- start the training within 3 months after the STAP-budget application period.
- have not previously been allocated a STAP-budget this year.
How does the registration process work?
The STAP-budget is implemented by UWV. As soon as the application period starts, you can submit your application there. If the budget is exhausted, applications are no longer possible and you must re-register for the next application period. Curious about the budget counter for the current application period or do you want to know when the next application period starts? Check the portal of the UWV for more information.
More information about the STAP-budget can be found on the website of Rijksoverheid and on the website of the UWV.
Lifelong Learning Credit
Certain programs are eligible for the Education Executive Agency's (DUO) Lifelong Learning Credit. This scheme, in place since 2017, allows anyone who is younger than 56 and meets certain conditions access to a favorable government loan to fund their education. Find out more about the Lifelong Learning Credit's conditions and how to apply on the website of DUO.
Student finance (STUFI)
This financing is for Dutch nationals. In some cases non-Dutch citizens who have a Dutch residence permit are eligible to apply if they have been living in The Netherlands long enough.
Your age and the education / program you are going to follow may influence your eligibility for obtaining student financing
Age: You must be younger than 30 when the student finance starts. If you turn 30 during the study program, the student financing will continue until completion of your studies.
Education: To be eligible for obtaining student financing support, you must follow full-time education that awards you a master’s degree on completion of your studies. The duration of the program must be at least 1 year. TIAS full-time Master of Science in Business Administration is accredited and fits these educational requirements.
For further conditions and requirements, see the DUO website.
Many of our programs are aimed at people's personal and professional development and taking the next step in their career. That is why many banks offer specific study loans, or the option of extending existing loans or mortgages.
The Teachers' grant is available for qualified teachers and can be used as a reimbursement of their tuition fees, study materials, and travelling expenses. In addition, employers are eligible for a subsidy to grant their employees study leave. Qualified teachers who want to study at TIAS can apply for a Teachers' grant of up to €7700 at DUO.
You will need the BRIN code of your educational institution for your application. The BRIN code of TIAS School for Business and Society BV is 27ZC.
The application period for the Teachers' grant runs from April 1 to May 15 annually. On the website of DUO you can find out more about the grant and its conditions.
For foreign students
If you are not a resident of the Netherlands, we recommend that you check which tax advantages your own country offers to professionals who want to continue to improve and innovate.
Every financing situation is different and personal. You can also contact the TIAS Program Advisers for tailor-made advice. We are happy to discuss with you which financing best suits your personal situation. For tax-related questions, we would like to refer you to the Tax Authorities or your tax advisor.
For more information, please contact the Program Advice Coordinator, Jet Eshuis, +31 13 466 86 95.