A larger amount of student loan can be taken out starting from August

The government guarantees for student loans will rise in August 2024. In addition, the number of disbursements will also increase for students who study in Finland. The first loan disbursement for the upcoming academic year can be taken out starting from the beginning of August.

Following the amendments to the Act on Student Financial Aid, the amounts of the government guarantees to student loans will be increased. For students aged over 18 years who are studying in Finland, the loan guarantee will increase from EUR 650 to EUR 850 per month. For students who are studying abroad, the loan guarantee will increase from EUR 800 to EUR 1,000.

In addition, the number of disbursements of student loan funds will change. Going forward, the number of loan disbursements will be two for all higher education studies. For studies that are completed entirely abroad, the number of loan disbursements is still one for each academic year.

The changes concerning student loans will take effect on 1 August 2024. The first loan disbursement for the academic year 2024-2025 can be taken out starting from the beginning of August.

Students can check the maximum amounts of the student loan, the loan disbursements, and the first and last dates of disbursement in the financial aid decision or the OmaKela e-service.

The government guarantees are granted by Kela (Social Insurance Institution of Finland). Visit Kela's website to read the full bulletin and learn more about applying for a student loan.