When can I apply for a student loan?

You can apply for a new loan or a top-up one week before the intended drawdown date. The first drawdown dates of an academic year are 1 August in the autumn and 1 January in the spring. If you want to apply for a new loan or a top-up for the current academic year, you will need to submit your application by 31 July.

How do I know if my loan application has been accepted?

Your loan application will be processed within three banking days. However, during the peak periods (January, August and September), it may take us longer than three days to process your application. You won’t get any separate notification of an accepted loan application. If we accept your application, we will transfer the money to the account you have specified and send the loan agreement to you as a message in Nordea Mobile and Netbank.

Can I apply for a student loan if I have a default on my credit record?

You can apply for a student loan even if you have a default on your credit record. But please be aware that we will assess your overall financial situation when processing your application so your student loan application may be rejected because of the default.

Do I have to apply for a student loan every year?

Yes, you need to apply for a student loan separately for each academic year. When you submit your application for the first time, apply for a new student loan. In the subsequent years, apply for a top-up to your existing student loan at the beginning of each new academic year.

Can I get more student loan in the middle of the academic year?

If you have applied for a student loan for the current academic year and selected automatic drawdowns, you will get the full loan amount granted to you in two instalments (one in the autumn and the other in the spring). If you have selected partial drawdowns, you can continue to draw down more until you have drawn down the full amount granted to you for the current academic year.

Can I apply for a student loan retroactively?

If you have been approved for a loan guarantee for the full academic year, you can drawdown your loan on 31 July at the latest. If you haven’t applied for a loan guarantee for the full academic year, it is also possible to apply for the guarantee during the year. Please note that the loan guarantee is valid from the beginning of the month in which Kela received your application at the earliest.

For how long is the state guarantee valid in student loans?

The state guarantee is valid for a maximum of 30 years from the first drawdown. You will need to repay your student loan while the state guarantee is valid. If you haven’t done so, your loan will be transferred to Kela for debt collection.

Am I eligible for a student loan?

You are eligible for a student loan with a state guarantee if Kela pays you a study grant or the Employment Fund pays you an adult education allowance. Note that here a study grant doesn’t mean the supplementary allowance for the purchase of study materials. If you are not entitled to a study grant, you can still get a loan guarantee in certain special cases. Visit Kela’s website to see if you are eligible for a student loan Opens new window

Applying for a student loan | Apply for a new loan or a top-up

A new academic year calls for a new student loan application

You need to apply for a student loan separately for each academic year. Use our student loan application form to apply for a new student loan or for a top-up to cover another academic year.

Watch the video below for a quick guide to filling in a student loan application.

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Further instructions

Instructions for applying

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Make sure first to get a state guarantee

You will need a state guarantee before you can apply for a student loan from us. The state guarantee means that the government guarantees your student loan. The state guarantee doesn’t cost you anything, and you don’t need any other collateral for the loan.

If you are a student at a university or a university of applied sciences and are entitled to a study grant, you will receive a decision on the state guarantee for your student loan automatically. If you continue your studies, you will automatically receive a guarantee decision for the next academic year in July.
If you are studying in a secondary school or a vocational school, you need to submit a separate application for the loan guarantee to Kela at the same time as you apply for a study grant and the housing supplement. You should apply for the loan guarantee for your entire period of study on one application. Visit Kela’s website to see what you need to include in the application.Opens new window

After Kela has accepted your application for the loan guarantee, the guarantee decision will be forwarded to us automatically.

If you are not entitled to a study grant, you can still get a loan guarantee in certain special cases.

Visit Kela’s website to see if you are eligible for a student loanOpens new window

Student loan amount

How big a student loan can I get?

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The state guarantee determines the maximum size of your student loan per academic year. The maximum loan amount depends on how old you are and where you study.

See loan amounts for different students

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Step-by-step guide to applying for a student loan

You will use the same application to apply for a new student loan and to top up an existing one. You can therefore follow the instructions below in both cases.

Apply now

Filling in the application

Application processing time

Student loan for a minor

Applying for a loan without a state guarantee

Frequently asked questions about loan applications

How to find the application in Nordea Mobile and Netbank

Here’s how to find the student loan application

Log in to Nordea Mobile or Netbank.
Go to the Services tab and select ‘Loans’. Then select ‘Student loan’.

You can also use the button below to log in directly to the application. Please note that you need Nordea access codes to log in to the application.

Apply for a student loan here

Don’t bank with us yet?

Would you like to have a chat about becoming our customer? Fill in our contact form and we’ll help you get started. When you sign up as our student customer, you’ll get access to our university student benefits.

Fill in our contact form

Before you start filling in the application

Have your education details ready

The school where you study
The estimated year of graduation

Select the drawdown option

Choose in the application whether you want to have your student loan for the academic year transferred to your account in one go or in instalments.

There are two drawdown options:

Automatic drawdowns (0 euros). Select this option if you want to draw down the full loan amount granted to you. If you are a university student, for example, your loan will be transferred to your account automatically in two instalments: one in the autumn and the other in the spring.
Partial drawdowns (10 euros per drawdown). Select this option if you want to draw down the loan in separate instalments determined by you throughout the academic year. This allows you to leave some of the student loan granted to you for an academic year undrawn if you don’t need the full amount.

Signing and submitting the application

Once you have entered all the requested information, you will be asked to sign the application with your Nordea access codes.

Money will be in your account in 1 to 3 working days

We normally process student loan applications in 1 to 3 working days. However, during the peak periods (January, August and September), it may take us longer than three days to process your application. Once the loan is granted to you, you will receive the loan agreement and terms and conditions in a message via Nordea Mobile and Netbank.

Are you under 18 years old?

As a minor, you can apply for a student loan if you are eligible for the state guarantee and your guardians (both, if you have two) have consented to you applying for the loan.

You are eligible for a state-guaranteed student loan if you are under 17 years old and don’t live with your guardians and if your guardians’ combined annual income is less than 64,400 euros.

Your guardians can give their consent by sending us a message in Nordea Mobile or Netbank, by calling us and verifying their identity with their online banking credentials or by giving you a power of attorney to present in branch. If your guardians don’t bank with Nordea, they can give their consent through the Nordea Omaposti service.

Once you have their consent, you can apply for and draw down a student loan. If you have personal online banking codes, you can call us to apply for a student loan. If you don’t have personal online banking codes, you can apply for and draw down a student loan in branch. Book an appointment for a branch visit by calling us.

Borrow money for your studies without a state guarantee

The state guarantee requires that you have been approved for either student financial aid in the form of a study grant by Kela or for an adult educational allowance by the Finnish Employment Fund. Please note that the adult educational allowance was discontinued for new studies starting from autumn 2024.

Various associations, foundations and unions also award scholarships and grants that you can apply for.

Fill in an application and we’ll get in touch

If your new studies don’t meet the criteria for a state guarantee, you can apply for a different type of loan to pay for your expenses while you study.

Simply fill in our application form for secured consumer credit and we’ll get in touch with you to find the right solution for you. Submitting the application doesn’t commit you to anything.