Student loan compensation

Student loan compensation is a financial aid benefit for students in higher education.

If you have started your first higher education studies on 1 August 2014 or later, you will be entitled to student loan compensation if you pass your degree within the target time.

Kela will pay student loan compensation after you have completed your degree and you have drawn down at least 2,500 euros of your student loan. The compensation will be 40% of the qualifying debt exceeding 2,500 euros. If the student loan compensation is granted to you, Kela will usually pay the compensation directly to your bank as an extra repayment on your student loan.

Significant benefit

Student loan is an easy way of financing your expenses during your studies. The student loan compensation will alleviate the repayment of your student loan after you have completed your studies. It is a significant additional benefit if you complete your degree within the set time.

Have a look at the examples below to see how much the student loan compensation paid by Kela will reduce your student loan principal after you have passed your degree within the set time:

Student loan compensation
Student loan amountStudent loan compensationRemaining loan amount
18 000 €6 200 €11 800 €
12 800 €4 120 € 8 680 €
10 800 €3 320 €7 480 € 
7 500 €2 000 €5 500 € 
5 000 €1 000 €4 000 € 

For further information on the target times of passing degrees, extension of the target times and application for the compensation, please refer to KelaOpens new window.

Loan to suit your needs All products Additional services Loan to suit your needs

Travel credit

Travel fever?

A beach vacation or why not travel around the world? Apply for a loan that suits your need and book a trip!

Car loan

Car fever?

Buying a new or a used car? Apply for a loan that suits your need and go to the car dealer!

Holiday home loan

You already have a barbecue. Only the holiday home is missing.

Looking for a holiday home? Apply for a loan that suits your need and make your holiday home dream come true!

Student loan

A student loan allows you to focus on studies.

A student loan will make your life easier. After getting a loan decision, you can focus all your energy on studies.

Garden loan

Barbecue fever?

Need a new terrace, lawnmower or paving slabs for your garden? Apply for a loan that suits your needs and make your dream garden come true!

Renovation credit

Renovation fever?

Interior decoration, a new kitchen or a room for your child? Apply for a loan that suits your need and make your home look better!

Home decoration loan

Decoration fever?

Are you decorating your home or updating the entertainment electronics? Apply for a loan that suits your need and make your home look better!

Boat loan

Boat fever?

Are you thinking of buying a new boat or trading in your old one? Apply for a loan that suits your need and make your boat dream come true.

All products

FlexiCredit

Realise your plans with FlexiCredit

The credit amount can be from 2,000 euros up to 25,000 euros, so it suits both small and larger purchases. You can use the money any way you like: for a car, a boat, home improvement, furniture or a trip abroad.

Credit cards

Credit card for everyday purchases

Credit card for everyday purchases in Finland and abroad. A credit card allows you to adjust your monthly expenses. Read more about our wide range of cards!

Secured consumer credit

Planning large purchases?

A secured consumer credit is a flexible and inexpensive solution when you are planning to buy a car, a boat or a caravan or to make some other larger one-off purchase.

HomeFlex

Large purchases with a small monthly payment

Is your home in need of refurbishing or is your housing company planning to renovate its plumbing? HomeFlex will free up your home equity so that you can realise your.

Student loan

A student loan allows you to focus on studies.

A student loan will make your life easier. After getting a loan decision, you can focus all your energy on studies.

Additional services

Insurance

You always get an appropriate insurance.

Nordea If Insurance helps handle surprising situation in everyday life.

Advice on loans and credits

Couple walking in the city 

A consumer credit gives flexibility to your finances

Choosing Nordea for all your banking will be worth your while.

Feet in sand 

Draw up a financial plan

You can balance your finances by calculating your regular income and expenses.