6	Finances and insurance

6.1

Allowance

Many companies give an allowance, although most universities do not. In case a (relatively) high allowance is given, this may influence the limit of your study financing, especially if you have (had) other income in the same calendar year. Each year you are allowed to have a certain net amount of income / supplementary income without influencing the right and limit of your study financing. An educational IBG grant is not part of this amount; private grants (e.g. KIVI) are. You can find more information about this at “http://www.ib-groep.nl > voor scholieren, studenten, enz. > studiefinanciering hoger onderwijs > bijverdienen”.

The Bureau Student Dean (Bastille, Red Desk, tel. 2035) will have the most recent information. You can also have the Helpdesk Study Financing calculate how much you are allowed to earn and how much the eventual cut back on the study financing will be.

In case you think you will exceed the allocated amount, contact one of the student deans beforehand in order to avoid problems regarding the right to receive an educational IBG grant and / or public transport (OV)-card.

6.2	Costs (restraining) and allowance for external projects abroad

External projects abroad often bring on extra costs. For instance, think about travel expenses, the costs involved for renting a room and taking a language course. A few possibilites to limit the costs:

ISIC

Get yourself an International Student Identity Card (ISIC); see the website about the conditions and how to apply. The ISIC card can yield substantial savings on travel tickets, museums or hotels.

Declaration OV card

For the duration of your external project abroad you can hand in your OV-card and in doing so receive in return the fictive contribution for your OV-card. You can get application forms at the Bureau Student Dean in the Bastille or at the IBG-help desk, Ripperdastraat 13, Enschede. You can also find these forms at “http://www.ib-groep.nl > voor scholieren, studenten, enz. > OV-studentenkaart > naar buitenland > OV-vergoeding buitenland”.

Cancelling / subletting room

It is advised that you reduce your cost of living in Twente by cancelling your room or sub-letting it in order to cut back on expenses. Unfortunately, the rule that students coming back from an external project get priority status for housing on the Campus has been abolished. All the more reason to consider sub-letting your room to a student coming to the UT for a short study period or an assignment. You can either notify the Housing Office (Bastille, Second floor, tel. 4031) regarding the temporary availability or you can offer your room for rent for that period yourself on http://www.studentunion.utwente.nl/kamers/en/aanbieden/.

TMF scholarship

You can apply for a TMF grant through your co-ordinator. In order to do this you can use the application form for the Twente Mobility Fund. The application has be sent to the International Office, that will decide from which source (Socrates, Leonardo, Delta, UT, …) the grant will be offered, and will also take care of the administrative and financial handling. The next step will involve IO contacting you about the terms and conditions.

Private scholarships

If you are planning to take on a very expensive external project then you will have large expenses, inspite of the grants. You can look if there are special scholarships for your situation by using the ’Beursopener’ (http://www.nuffic.nl/bo/index.html). Furthermore, you can take a look at (http://www.siswo.uva.nl/facta/subsidie.html). Do not expect too much from these websites, as in many cases you will not comply with the terms and conditions for receiving such a special grant.

6.3

Insurance

Some companies have taken out insurance for their students. This is often a liability insurance and in some cases accidental insurance. However, this is not always the case as many companies often assume that the university has taken care of their students’ insurance needs.

The UT has taken out liability insurance for all of their students. This means that you are insured for liability (e.g. if you cause damage) at your work place (both inside The Netherlands and abroad) during your external project (some divergent rules apply for your stay in Canada and the United States). If required you can always get a Dutch of English statement about this insurance from your co-ordinator. However, as the UT’s liability insurance does not apply after working hours, you are advised to take out your own insurance.

Furthermore, the UT has taken out a collective travel insurance policy for all of their employees and students for study activities abroad (e.g. external project). Although the faculties will pay for this through a billing system, you can use it for free! You can enroll through the internet via https://mycampus.utwente.nl/webapps/reisverzekeringen/nl/rvservlet. You can obtain your insurance card from your own faculty’s financial unit / programme three working days after registration.

If you are going abroad with basic health insurance, consult your insurance company and ask for information about their coverage abroad and during study or working activities. Two suitable insurances schemes are: Lippmann’s insurance scheme (Insurance Passport for Students, see http://www.ace-ips-nl.com/) and AON’s insurance scheme www.aonstudentinsurance.com Take care to always have your insurance information as well as the university’s information at hand in case of trouble. It is your own responsibility to take care that you are well insured!

Finally:

Hand over a form with all important information needed in case of emergency to your personal contact person in The Netherlands, your co-ordinator and upon arrival to your mentor at the inviting company. You can find this form in appendix 7.