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Student loan

Student - something sweet on your bread or bank account? You can apply for a student loan to help finance your life during your studies. With finances in order, you can focus all your energy on studying. Apply online and use the code app to verify your application.

Student loan in a nutshell

You are eligible for a student loan if you study full time. Since the government guarantees the student loan, no other security or guarantee is required. You can easily submit a loan application online.

  • Apply for the student loan in Netbank or mobile bank.
  • The student loan application will be processed in 1–3 banking days. 
  • The student loan can be 300– 650 euros a month according to the decision on student financial aid.
  • Your account is credited on the drawdown dates free of charge if you have a valid agreement on the drawdown of the loan payments.
  • Flexible repayment schedule.
  • The student loan compensation is a new financial aid benefit.

Applying for a student loan

First you will need a benefit decision on a student loan guarantee from Kela for the current term. When you have received it, you can apply for a student loan in the mobile or Netbank.

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Student loan compensation

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

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Repayment schedule of student loan

Your repayment schedule will always be tailored to your situation in life and your repayment capacity.

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What is a state guarantee?

  • A state guarantee is a security for a loan granted by the state. The amount of the state guarantee depends on the loan type. It guarantees a student loan in full, for example.
  • Student loans are state-guaranteed and must be repaid when the studies are completed.
  • The state guarantee is in force for 30 years at the most from the first drawdown of the loan.
  • The reference rate options are Nordea Prime and the 12-month Euribor. The bank’s margin is added on top of the reference rate.
  • When you have a valid decision on a state guarantee, you can make a student loan application and partial drawdown requests in Netbank.
  • As of the academic year 2011–2012, the state guarantee for student loans is granted without a separate application to all university students receiving a student grant.
  • Kela will pay a portion of your student loan as student loan compensation if you have started your first higher education studies on 1 August 2014 or later and you have passed your degree within the target time.

Studying abroad

  • If you study abroad, the loan may amount to 800 euros a month.
There are many things to consider when studying abroad. Which are the actual studying costs (such as tuition fees, living, rent)? How should you arrange your banking? How to pay bills in Finland and transfer money from Finland to another country? How will you pay for your purchases abroad and will there be any tax considerations? Come and discuss all this with us – let's find the best options for you!

Drawing down a student loan

Kela’s student financial aid decision includes a schedule for student loan drawdown dates during the school year. Usually, student loans can be drawn down in two instalments during the school year: 

  • in the autumn term on 1 August at the earliest 
  • in the spring term on 1 January at the earliest. 

If the first drawdown date falls on a weekend or a mid-week holiday, the loan will be transferred to your account on the next working day. The easiest way to apply for an instalment-free period is to do it in Netbank.

Changes to a student loan

You can make changes to your student loan if you need more flexibility. You may want to make changes to the terms and conditions of your student loan when you face unexpected situations, for example. It is possible to make the following changes to student loans granted by Nordea:

  • change the payment date of the student loan permanently
  • change the reference rate
  • increase or reduce the amount of the instalment
  • change from automatic debiting to paper invoices
  • apply for an instalment-free period.

Changes to your student loan are subject to a fee in accordance with our tariff. The easiest way to apply for an instalment-free period is to do it in Netbank. For more detailed prices, terms and conditions and standard consumer information, please see below.

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Most common fees on student loans
Arrangement fee in Netbank *)
20,00 €
Arrangement fee at a branch *)
20,00 €
Concluding a student loan drawdown agreement 
0,00 €
Cancellation of a student loan drawdown agreement due to interruption or ending of studies 
0,00 € 
Cancellation of a student loan drawdown agreement for other than the above-mentioned reasons 
0,00 €
Partial drawdown in Netbank ***) 
10,00 €
Partial drawdown at a branch office ***) 
20,00 €
Automatic debiting of loan repayments 
2,30 € / charge
Loan payment, paper invoice4,10 € / charge
Raising fee 
10,00 €
Advance notice of loan debiting on paper or through Netbank  
0,00 €
Payment reminder to borrower 
5,00 €
Permanent change of due date0,00 €
Change in loan terms (e.g. change of repayment schedule, increase of installment, reference rate, billing method)  **)
40,00 €
Decrease of installment payment5,00 €
Deferred amortisation5,00 €
Move loan to another bank by customer's request. The fee is paid by the other bank.
120,00 €

*) Arrangement fee for Check-in customers 10,00 €.

**) A change in repayment schedule free of charge for Check-in customers, once per 12 months.

***) After the first drawdown, a partial drawdown fee is charged for each drawdown. The partial drawdown fee is not charged if the borrower and the bank have made a drawdown agreement in connection with the first partial drawdown at the latest.

Terms and conditions
Consumer Credit Information

Apply for a student loan online

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Opintolainan korko

Keväällä nostettujen opintolainojen keskikorko oli Suomen Pankin tilastojen mukaan 0,48 %. Opintolainojen korot eivät ole koskaan aikaisemmin olleet näin alhaalla. Opintolainasi korko määräytyy kanssasi tekemämme sopimuksen mukaan.

Opintojesi aikana et voi maksaa korkoja erikseen, vaan opintolainasi korko lisätään lainasi pääomaan eli pääomitetaan kahdesti vuodessa: 15.6. ja 15.12.

Opintolainasi korot lisätään lainasi pääomaan niiden lukukausien aikana, jolloin saat opintotukea, sekä vielä kerran viimeisen opintotukilukukauden jälkeen.

Jos olet pienituloinen, sinun on mahdollista hakea valmistumisesi jälkeen korkoavustusta Kelasta. Tämä tarkoittaa, että Kela maksaa opintolainasi korot kokonaisuudessaan etkä joudu maksamaan sitä takaisin. Voit saada korkoavustusta, mikäli tulosi eivät ylitä Kelan tulorajaa eikä pankki enää pääomita korkoja vaan on alkanut laskuttaa niitä sinulta.