The education loan is a government-guaranteed loan that you need to repay. If Kela provides you with that loan guarantee you are able to make an application for that loan at a bank of one’s option.
As the loan is guaranteed by Kela you do not have to hold just about any safety. The mortgage guarantee is legitimate for approximately three decades through the first disbursement of loan funds.
The attention payable from the loan plus the payment routine are agreed between both you and the financial institution.
You will get federal federal government guarantee for a student-based loan if you are being compensated a report grant by Kela or a grownup training allowance by the Employment Fund. Study grant is known as to suggest other types of research grant compared to the additional allowance for the purchase of research materials.
Also if you’re perhaps not compensated a research grant, you could be eligible for that loan guarantee within the following circumstances:
- You may be 18 or 19 years old, your home is by having a moms and dad, you’re in top education that is secondary and also you cannot get research grant on account of parental income. That loan guarantee can, but, be provided.
- If you should be under 17 and live having a moms and dad, you can’t get that loan guarantee.
- You might be under 17 rather than coping with a moms and dad, and you’re not entitled to other types of research grant because son or daughter advantage is purchased you. You’re eligible to a federal government guarantee if for example the moms and dads’ blended income is lower than EUR 64,400 each year. Read More