Repayment schedule of student loan

Student loans are state-guaranteed loans which you must repay after you have finished your studies. When Kela notifies us that you have graduated or suspended your studies, it’s time to draw up a repayment schedule for your student loan. Your repayment schedule will always be tailored to your personal circumstances and repayment ability.

Short introduction to repaying your student loan

You don’t have to worry about interest rates or paying off your student loan while you’re still studying.

The interest accrued on your student loan during your studies will be capitalised, in other words added to the loan principal. This will be done in the academic years for which you receive student financial aid and once more after the last such academic year. The interest is capitalised twice a year: on 15 June and 15 December.

As a result of the capitalisation, the repayable loan principal will increase by the amount of the interest and compound interest. We will add the interest to your loan principal automatically.

You will need to start repaying your student loan after you graduate.

The repayment of student loans usually begins 1.5–2 years after the payment of student financial aid ends. The repayment schedule is usually twice the time of your studies but you can agree with us on a flexible schedule according to your personal circumstances and repayment ability. It’s also possible for you to pay off your student loan in one go if your finances allow it.

We will draw up a repayment schedule in accordance with the terms and conditions of the student loan. The repayments will fall due every month. The state guarantee is valid for 30 years from the first time you draw down your student loan.

If your circumstances change, you can later adjust the agreed repayment schedule flexibly.

Read more: Am I entitled to student loan compensation or a student loan tax deduction?

Apply for a change to your student loan

You can apply for an instalment-free period for your student loan or change the amount and due date of your repayment, the management account, the repayment method and the reference rate. Go to the applicationOpens new window. Any changes are subject to a fee in accordance with our tariff and it will be charged in connection with the next repayment of the loan.

Frequently asked questions

Repayment schedule of student loan