What are private funds?
Private funds are foundations that want to support students that cannot receive as much or no financial support through student finance (DUO) or family, but who do want to get a degree or go abroad for their studies.
Oftentimes a private fund wants to support a specific population, such as women in Rotterdam or art academy students. The student counselors have a list of private funds available to potentially apply for.
When are you eligible?
1. You are about to go abroad on an exchange or internship for your study programme .
For some study programs you can go on exchange or take an internship abroad: a beautiful experience that your personal and professional development can benefit from! Such a thing comes with additional costs, and on top of using your own resources you can apply to a private fund to fill a shortage in your current budget.
Please note: you should apply a few months before actually going abroad, so start on time with your applications!
2. You have financial problems due to special circumstances.
When special circumstances arise during your study program that affect your financial situation, creating a budget shortage that you can’t solve with your savings or family support, you can consider applying to a private fund for some financial support.
Some conditions for such an application: Special circumstances, a budget shortage and if possible, you have made use of the resources such as your study finance or other sources of income.
It’s also important to note that private funds prefer supporting students who have already progressed considerably in their study program; your request for financial support is more likely to be met as a third-year student than as a first-year student who still needs to obtain their first year credits.
In need of financial help but unsure if you are eligible? Make sure to plan in a meeting with a student counselor to discuss your options.
The application
The student counsellor can you help you with the assessment of the situation and with the process of application. Usually a private fund will expect the following:
- A letter of motivation
- A budget in which you prove their is an unsolvable shortage
- Your resume
- An overview of your study results
- An overview of your DUO loan
- A supporting statement of a student counsellor.
Tips
- In your letter of motivation you should include not only why you are applying, but also how you will make sure of study progress during the upcoming period with their support
- Use this information to make an overview of your income and outcome for your budget overview with Excel or Google Sheets
