Loans & insurance · student loan
Student loan calculator 2026
A student loan (opintolaina) is a bank loan backed by a Kela state guarantee, with a significant benefit — the student loan compensation: Kela pays 40% of the loan exceeding €2,500 if you complete a higher-education degree within the target time. For example, a 3-year degree counts at most €10,800 for the compensation, so the compensation is at most €3,320. The calculator shows the compensation, the remaining loan and the monthly repayment.
The compensation is paid directly to the bank as an extra amortization, and the rest is repaid usually about two years after graduation. Without graduating on time, no compensation is paid. The calculator is indicative — Kela makes the final decision.
Student loan details
Total loan drawn during studies (excluding capitalized interest).
Student loan compensation
€3,320
Maximum loan counted for the compensation for this degree: €10,800.
| Student loan drawn | €17,550 |
| Compensation (Kela) | −€3,320 |
| Remaining loan | €14,230 |
| Monthly payment | €144 |
| Total interest | €3,059 |
| You repay in total | €17,289 |
The calculator is indicative. The exact conditions, deadlines and maximums of the compensation depend on the degree and your personal situation; Kela makes the final decision. The repayment rate and terms are agreed with the bank. This is not a decision by Kela or a bank.
How is the student loan compensation calculated?
Kela pays 40% of the student loan exceeding €2,500 as a compensation if you complete your first higher-education degree within the target time. The eligible loan is capped: 9 months of loan per full academic year (and 5 months per half year), counted at €400/month (domestic) or €700/month (abroad). For example, a 3-year degree counts at most 27 × 400 = €10,800, so the compensation is at most 40% × (10,800 − 2,500) = €3,320. Kela pays it directly to the bank as an extra amortization, and the remaining loan is repaid as an annuity at your chosen rate and term.
How do the compensation and repayment work?
The student loan compensation is 40% of the student loan exceeding €2,500. At most 9 months of loan per full academic year (and 5 months per half year) is counted, at €400/month domestically or €700/month for degrees completed abroad. So the maximum compensation depends on the degree’s scope: for a 210-credit AMK degree, for example, it is at most about €4,120.
The condition for the compensation is that you started your first higher-education studies on/after 1.8.2014 and graduate within the target time. The target time is based on the degree’s scope (60 credits equal one academic year). It can be extended for e.g. military service, illness or the birth of a child. Usually you don’t need to apply — Kela checks eligibility automatically.
A student loan requires no collateral or guarantor, because the Kela state guarantee acts as collateral. A higher-ed student can draw at most €650/mo, a second-level student €300/mo, and a student abroad €800/mo. During study the interest is usually capitalized, i.e. added to the loan amount.
Repayment usually starts about two years after completing the degree. The loan is repaid as an annuity at a rate and term agreed with the bank, and it can be repaid early without extra cost. A student loan is typically one of the cheapest loans, and the compensation makes it especially worthwhile if you graduate on time.
Frequently asked questions
How much student loan compensation can I get?
The compensation is 40% of the loan exceeding €2,500 when the degree is completed on time. However, at most 9 months of loan per full academic year is counted (€400/mo domestic, €700/mo abroad). For example, a 210-credit AMK degree gives at most about €4,120.
What does completing on time mean?
The target time is the study time set by the degree’s scope (60 credits equal one academic year). The compensation is granted if you graduate within it. The time can be extended for e.g. military service, illness or the birth of a child. Eligibility applies to those who started their first higher-education studies on/after 1.8.2014.
Do I need to apply for the compensation?
Usually not. Kela checks eligibility automatically and sends a decision after graduation. However, you must apply separately after a bachelor’s degree completed at a university, for example. The application period is 2 years from completing the degree.
When does repayment start?
Repayment usually starts about two years after completing the degree or ending studies. During the grace period the bank may charge only interest. The loan can also be repaid early without extra cost. The repayment terms are agreed with the bank.
Do I need collateral or a guarantor?
No. The state guarantee granted by Kela acts as collateral, so the bank grants the loan without property or a guarantor. A higher-ed student can draw at most €650/mo, a second-level student €300/mo, and a student abroad €800/mo.
What if I don’t graduate on time?
Without graduating within the target time, the compensation is not paid, and the whole loan with interest is repaid yourself. As an exception, the deadline can be extended for an acceptable reason (e.g. illness or military service). A student loan is still one of the cheapest loans, and it can be repaid flexibly.