The education loan is really a government-guaranteed loan that you need to pay off. If Kela provides you with that loan guarantee you are able to submit an application for that loan at a bank of one’s option.
Considering that the loan is assured by Kela you don’t have money tree locations to hold other protection. The mortgage guarantee is legitimate for approximately three decades through the disbursement that is first of funds.
The interest payable in the loan plus the repayment routine are agreed between both you and the lender.
You could get federal government guarantee for a student-based loan if you should be being paid a research grant by Kela or a grownup training allowance because of the Employment Fund. Research grant is regarded as to suggest other forms of study grant compared to additional allowance for 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 be 18 or 19 years, you reside by having a moms and dad, you’re in top education that is secondary and also you cannot get a research grant because of parental earnings. That loan guarantee can, nevertheless, be provided.
- If you should be under 17 and live with a parent, you simply can’t get that loan guarantee.
- You will be under 17 rather than coping with a moms and dad, and you’re perhaps not entitled to other types of research grant because son or daughter advantage is bought you. You might be eligible for a federal government guarantee in case your moms and dads’ blended income is lower than EUR 64,400 per year. Continue reading