A student loan is designed to help cover the day-to-day expenses of students. A minor can apply for and draw down a student loan with their guardians’ consent.
When applying for a student loan for a minor, the applicant must fulfil certain criteria to be eligible for a state guarantee. A student loan with a state guarantee can be granted to applicants under the age of 17 if they do not live with their parents and if their parents’ annual income is less than 64,400 euros in total. More information about student loans for minors is available on Kela’s website.
Guardians can give their authorisation and consent to a minor’s student loan by contacting Nordea Customer Service and authenticating their identity with their personal online banking codes. They can also give their consent in branch with a power of attorney.
With their guardians’ consent, a minor can apply for and draw down a student loan by contacting Nordea Customer Service if they have online banking codes. If they do not have online banking codes, they can apply for and draw down a student loan in branch.