A student loan in the summer months

If you want to keep studying in June, July, and August you can draw down the loan that has already been granted to you or apply for student financial aid for the summer from Kela. With a student loan, you can make ends meet if you can’t find a summer job.

1. You can draw down the loan that has already been granted to you for the current academic year in the summer if you haven’t yet drawn down the full amount.
2. If you have drawn down and spent all of your student loan for the current academic year, you can apply for student financial aid for the summer from Kela. When you receive a student financial aid decision from Kela, you will also get a state guarantee covering the summer. 

In other words, when you have a state guarantee, you can apply for a student loan for the summer months.

You can apply for a student loan for the summer months as soon as you have received a student financial aid decision from Kela and you have a state guarantee for the loan.

Send your application to Kela as early as possible, because the earliest you can be paid student financial aid is from the beginning of the month in which your application arrives at Kela. If you submit your application through OmaKela, Kela will receive it on the same day. The average application processing time is two weeks.

It is just as easy to apply for and draw down a student loan in Nordea Mobile or Netbank in the summer as any other time of the year. You can draw down the loan on 31 July at the latest. 

How do I apply for a student loan from Nordea?

1. Log in to Nordea Mobile or Netbank.
2. Go to the Services tab and select “Loans”. Then select “Student loan”.
3. Fill in and submit your application.

Once we have received your application, we will process it in 1 to 3 banking days. 

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. 

• Your student loan allows you to focus on your studies in the summer and complete your degree sooner without worrying about making ends meet.
• Your student loan gives you the freedom to choose between studies and a summer job.
• Finding a summer job can be hard, and then it’s only natural to spend your summer studying.  

Don’t forget that your income affects your student financial aid. That’s why we recommend that you find out from Kela how your income affects your eligibility for student financial aid. You will then be better equipped to choose between working and drawing down a student loan.

For example, if you receive student financial aid for 9 months, your annual income limit is 20,127 euros.

However, you should keep in mind that your annual income limit is calculated per calendar year, not per academic year. So if you’re a first-year student, you may receive financial aid for only 4 or 5 months during the autumn term.

Learn more about combining your studies with work

1. You qualify for student financial aid in the summer if you, for example, attend lectures, complete exams, participate in on-the-job-training or work on your thesis.
2. Usually you can receive student financial aid for 9 months per academic year (from September to May), but you can apply for financial aid for a longer period. 
3. If you are paid student financial aid during the summer months, those months will be deducted from the total number of financial aid months available to you and will also be taken into account in your income check and in the monitoring of your study progress.