Exciting News for Finnish Students: Increased Loan Guarantees and Disbursements
The Finnish government has recently announced positive changes for students starting in August 2024. Loan guarantees will increase, with the first disbursement for the upcoming academic year available early August.
Under the revised Act on Student Financial Aid, loan guarantees will be adjusted. For students over 18 in Finland, the guarantee will rise to EUR 850 per month. Students under 18 in secondary education will see an increase to EUR 400, and those studying abroad will have a guarantee of EUR 1,000.
Furthermore, the distribution of funds will change. Secondary education students in Finland will receive four disbursements per year, and higher education students will have two. For students abroad, there will be one per academic year. These changes begin August 1, 2024.
Students are encouraged to work with their banks regarding loan arrangements, repayments, and interest accumulation. Kela has already reviewed student loans for the upcoming year, sending decisions to over 112,000 students.
Don’t miss out on these benefits – ensure to take out any remaining loan funds for the current academic year by the end of July!