Ability-to-pay measurement
Have you applied for a payment plan and an extension of the repayment period, but the monthly amount is still too high? Then you can submit a request for an ability to pay measurement.
An ability to pay measurement means that your income is taken into account when determining the amount that you have to pay each month. If you cannot pay the current monthly amount based on your income then your monthly amount will be adjusted downwards.
Income
In the case of an ability to pay measurement only your income, as known to the Tax Office, is looked at. We do not look at the income of your partner therefore, regardless of the level of that income. Your disposable income is not looked at. Therefore, no account is taken of any other (student grant) debts that you are repaying or additional expenses that you may have.
The guarantor will pay the difference
If it turns out that you can pay less than the monthly amount, the difference will be recovered from your guarantor (in most cases this is the parents). In that case, RCN-Studiefinanciering will contact your guarantor.
No higher monthly amount
If it appears that you can pay more than the monthly amount based on your income then nothing will change. Your monthly amount will therefore not be increased, nor will it be reduced.
Calculation of ability to pay
The ability to pay is calculated based on your income in calendar year T-2. From that income, an ability to pay exemption is deducted. Your ability to pay per year is then 12% of the income above the exemption. (This exemption is equal to 84% of the minimum wage.) This divided by 12 is the ability to pay per calendar month.
Example: Based on your student debt, a monthly amount of $215 has been determined for you. Because you are unable to pay this amount, you apply for an ability to pay measurement. You do this in calendar year 2013 (T). For the calculation of your ability to pay, we then assume your income in 2011 (T-2).
According to the Tax Office, you had an income of $25,000. We deduct the ability to pay exemption of $6,774 (before 2013) from this. The difference is $18,226.
Your ability to pay on an annual basis is 12% of $18,226. That is an amount of $2,187.12. Your ability to pay is then $182.26 per month ($2,187, 12/12). This is less than the fixed monthly amount of $215. Your monthly amount is therefore reduced to $182.26. The difference ($32.74) is recovered from your guarantor.
Commencement date
RCN-Studiefinanciering calculates your ability to pay from the month following your application. An application for an ability to pay measurement with retroactive effect is not allowed.
The calculation of the reduced monthly amount is valid for one calendar year. If you want an ability to pay measurement again the following year, you must submit a new application.
Application for an ability to pay measurement
Do you want to apply for an ability to pay measurement? Then complete the form Application Ability to Pay Measurement FINEB loan 2022 and send it in with the required supporting documents.