Kela notifies: Student loan funds for the coming academic year can be taken out already in August
If you are eligible for student financial aid and other benefits from Kela (Finnish Social Security Instute), you can take out student loan funds for the coming autumn term starting from the beginning of August.
If you are an international student, please note that to be eligible for financial aid from Kela, your residence in Finland must be permanent. If you are unsure whether you qualify for benefits, you can check the criteria on Kela’s website: Can you get benefits from Kela when you move to Finland?
Kela grants a government guarantee for student loans, and the student applies to the bank for a loan. Because the loan is guaranteed by Kela the student does not have to put up any other security. The government guarantee is granted for one academic year at a time.
Most higher education students are not yet paid student financial aid or housing supplement for August. However, student loans can be taken out at the beginning of August, and they can be used for example to pay rent and other housing costs. Even if you cannot get any other student financial aid in August, you can draw down your student loan.