The education loan is just a loan that is government-guaranteed you need to pay back. If Kela provides you with that loan guarantee you can easily submit an application for that loan at a bank of the option.

As the loan is assured by Kela you don’t have to hold every other safety. The mortgage guarantee is legitimate for approximately three decades through the disbursement that is first of funds.

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

Eligibility

You may get a national federal government guarantee for an educatonal loan if you are being compensated a research grant by Kela or a grownup training allowance because of the Employment Fund. Learn grant is regarded as to suggest other types of research grant as compared to additional allowance for the purchase of study materials.

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Even you may qualify for a loan guarantee in the following situations if you are not paid a study grant:

• You will be 18 or 19 years old, you reside having a moms and dad, you’re in upper additional training, and also you cannot get a research grant due to parental income. Financing guarantee can, nevertheless, be granted.
  • If you’re under 17 and live having a moms and dad, you simply cannot get that loan guarantee.
• You will be under 17 rather than coping with a parent, and you’re perhaps maybe not entitled to other forms of study grant because youngster advantage is bought you. You may be eligible for a federal government guarantee if the parents’ blended income is significantly less than EUR 64,400 each year. Read More