The student loan is just a government-guaranteed loan that you have to repay. If Kela provides you with that loan guarantee you can easily make an application for a loan at a bank of the option.
Considering that the loan is guaranteed in full by Kela there is no need to put on any kind of protection. The mortgage guarantee is legitimate for as much as three decades through the disbursement that is first of funds.
The interest payable regarding the loan together with payment routine are agreed between both you and the financial institution.
You will get federal government guarantee for an educatonal loan if you should be being compensated a report grant by Kela or a grownup education allowance by the Employment Fund. Research grant is known as to suggest other forms of research grant than the allowance that is supplementary the acquisition of research materials.
Even you may qualify for a loan guarantee in the following situations if you are not paid a study grant:
- You may money tree sparks be 18 or 19 years old, you reside having a moms and dad, you’re in top education that is secondary and also you cannot get a report grant due to parental income. Financing guarantee can, however, be given.
- You cannot get a loan guarantee if you are under 17 and live with a parent.
- You’re under 17 rather than coping with a moms and dad, and you are clearly perhaps not qualified to receive other types of research grant because kid advantage is purchased you. You might be eligible to a government guarantee when your parents’ mixed income is significantly less than EUR 64,400 per year.
- If you pursue a Bachelor’s degree in military sciences during the nationwide Defence University or if you pursue the fundamental program within one component for edge guards during the Border and Coast Guard Academy or the very first area of the fundamental program in 2 parts for edge guards, that loan guarantee is given, you cannot receive a report grant because you get day-to-day allowance for the amount of research from your own college. A loan guarantee can only be granted if you receive a study grant or an adult education allowance in other cases.
Whenever is that loan guarantee unavailable?
You simply cannot get that loan guarantee when you have previous education loan financial obligation that will be being gathered by Kela.
In the event the student that is previous loan being collected by Kela, and also you consequently are denied that loan guarantee, you might submit an application for it once again by attractive to excellent reasons. Which means that a statement must be provided by you to Kela concerning the reasons. The school funding decision includes instructions for providing a statement. In the event that reasons you lay out into the declaration are accepted, you certainly will get a favourable loan guarantee choice. If they’re perhaps not accepted, your decision shall be unfavourable.
Government guarantees for figuratively speaking aren’t offered to pupils serving a phrase of imprisonment.
Personal help is a type of last-resort support that is financial
It is possible to make an application for fundamental social some help from Kela if your entire earnings and assets as well as other social protection advantages that you will find been granted aren’t sufficient to pay for your necessary everyday cost of living, such as for example food and housing.