Student loan

Student loan for full-time studies?

Student loan is a state-guaranteed loan that you apply for at a bank for the period of full-time studies. You can apply for a student loan after you have received a decision on student financial aid and state guarantee from Kela.

Student loan in a nutshell

• A student loan can be 160-300 euros a month according to the decision on student financial aid. If you study abroad, the loan may amount to 600 euros a month.
• You can select the Prime rate or the 12-month Euribor rate as the loan reference rate. The bank’s margin is added on top of the reference rate.
• As Nordea’s Check-in Customer you get your student loan more affordably.
• During the time you receive student financial aid you only pay one per cent interest on the loan principal. The remaining interest is added to the loan principal. If the interest payable is less than 15 euros, the entire interest amount is added to the loan principal.
• The interest you pay on the student loan is tax deductible.
• After you have completed your studies, you agree on a repayment schedule that suits your situation at that time.

• When you have a valid decision on state guarantee, you can make a student loan application and partial drawdown requests in Netbank.