The education loan is a government-guaranteed loan that you need to pay off. If Kela offers you that loan guarantee you can easily make an application for that loan at a bank of the choice.

As the loan is assured by Kela you don't have to hold virtually any protection. The loan guarantee is valid for approximately three decades through the first disbursement of loan funds.

The attention payable in the loan as well as the payment schedule are agreed between both you and the lender.


You may get government guarantee for a student-based loan if you should be being paid a research grant by Kela or a grownup education allowance because of the Employment Fund. Learn grant is recognized as to suggest other forms of research grant compared to the allowance that is supplementary the purchase of research materials.

Also if you're perhaps not compensated a research grant, you might be eligible for that loan guarantee into the following circumstances:

  • You may be 18 or 19 years old, you reside having a moms and dad, you're in top additional training, and you also cannot get a report grant due to parental earnings. That loan guarantee can, nevertheless, be given.
    • You cannot get a loan guarantee if you are under 17 and live with a parent.
  • You will be under 17 and never coping with a parent, and you are clearly maybe perhaps not qualified to receive other types of research grant because kid advantage is bought you. You will be eligible to a federal government payday loan okc guarantee in case your moms and dads' blended income is not as much as EUR 64,400 each year.
  • If you pursue a Bachelor’s level in army sciences at the nationwide Defence University or you pursue the fundamental program within one part for edge guards during the Border and Coast Guard Academy or even the very first an element of the fundamental course in 2 parts for edge guards, that loan guarantee is given, you cannot receive a research grant because you get day-to-day allowance when it comes to period of study from your own college. Various other cases that loan guarantee is only able to be given in the event that you receive a report grant or a grownup training allowance.

Whenever is financing guarantee unavailable?

You simply cannot get that loan guarantee when you have previous education loan financial obligation which will be being gathered by Kela.

In the event the student that is previous loan being gathered by Kela, and also you consequently are rejected a loan guarantee, you may possibly make an application for it once again by attractive to exceptional reasons. Which means a statement must be provided by you to Kela concerning the reasons. The aid that is financial includes guidelines for supplying a statement. In the event that reasons you put down within the declaration are accepted, you can expect to get a loan guarantee decision that is favourable. If they're maybe not accepted, your choice will be unfavourable.

Federal Government guarantees for student education loans aren't offered to pupils serving a phrase of imprisonment.

Personal help is a kind of last-resort economic help

You are able to submit an application for fundamental assistance that is social Kela if all of your earnings and assets along with other social security benefits that you will find been awarded are not sufficient to pay for your necessary everyday cost of living, such as for example food and housing.

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