10th June 2022

Affordable higher education for all

Louise is 19 years old and lives in Luxembourg with her mother and brother. She has just finished the last oral sessions on her final exams, and is waiting for the results. Phew! Soon a little rest and then the holidays. Despite being an excellent student, Louise put a lot of pressure on herself during her exams. Fortunately, her mother was very attentive, cooking her favourite dishes and supporting her as best she could during this stressful period.

When Louise was 9 years old, she lost her father in a car accident, which was a great tragedy for her small family. Since then, her mother has been responsible for looking after her two children and ensuring their education. Louise is aware that it has not always been easy for her. New clothes, holidays and restaurant meals were rather rare, but her mother managed to build a stable situation for them, and she is very grateful for that.

Paying for higher education

Soon, Louise will leave the family cocoon, and she knows that her mother is worried and keeps asking herself: “How can I pay for my two teenagers’ higher education?”. Louise is a little sad to leave her mum and her brother, who is also her partner in crime, but like any teenager, she is eager to start studying abroad and have her own experiences. 

Plan for higher education with education insurance

Louise no longer has a father, so she is grateful to her parents, who had set aside some money for her (and her brother’s) education by contracting lalux-Study Cover when they were born. Now she will be entitled to a small ‘pension’ during her next four years of study, which she wants to do in the Netherlands.

Heading for the Netherlands

Since she was a little girl, Louise has been fascinated by physiotherapy and wants to support people during the hard times of their lives. She has been doing her research since grade 11, when she opted for Section C. She has visited student fairs, searched the Internet and watched many videos about this profession she is so passionate about.

Finally, she found a university in Eindhoven (NL) and applied for advance enrolment in the Physiotherapy Bachelor programme.

Planning your studies

At the beginning of the year, Louise went to visit Eindhoven with her mother and browsed the real estate market in search of a comfortable studio. What Louise really liked was that in the Netherlands, the bicycle is king, so there is no need to buy a car or a public transport pass.

Managing your budget at university

On her return from the trip, Louise listed the expenses for her studies:

  • University tuition fees
  • Supply costs
  • Travel costs
  • Housing (rent and expenses, security deposit)
  • Bicycle purchase
  • Consumption (food, hobbies, etc.)

As well as income :

  • Possible income from student jobs
  • lalux-Study Cover
  • Student grant
  • etc.

Since her 18th birthday, Louise has had an axxess STUDY account. This banking package, specifically designed for students and offered free of charge by Spuerkeess, will be very helpful during her studies, especially at the beginning! While she waits for her first financial aid disbursement from the government, she will be able to receive an advance of up to EUR 2.500 at 0% interest, without any fees. 

Financing your higher education with a grant and a student loan

Faced with the expenses involved, Louise looked up all the financial aid possibilities on mengstudien.lu and discovered that there are four types of grants:

  • base grant

  • mobility grant

  • social grant

  • family grant

Louise even asked about the requirements to qualify and found out she was eligible.

In addition, she will be able to receive an increase for tuition fees, and has of course decided to opt for a state-guaranteed student loan (formerly CEDIES).

The student grant simulator will leave you feeling optimistic

According to Louise’s simulation, €7,843 in financial aid (AideFi, formerly CEDIES) per semester could be granted to her, in addition to €2,109 per year for tuition fees (50% grants; 50% loans).

Louise feels very grateful that, despite her situation, she will be able to fulfil her dream of studying abroad.

Financing Education/Study