Opintolaina

Opintolaina is a Finnish student loan that forms part of the national opintotuki (student financial aid) system. It is voluntary and designed to supplement a student’s income to cover living costs during studies. The loan is available to students who are eligible for opintotuki and who are enrolled in eligible higher education programs or in certain recognized educational tracks.

Administration and financing: The loan is issued by partner banks but is backed by the Finnish state. The government provides an interest subsidy during the study period, which reduces the cost of the loan for the borrower. After graduation, the borrower is responsible for repaying the loan and any remaining interest. The loan is intended to help with everyday living costs rather than tuition payments.

Amounts and limits: There are annual and cumulative borrowing limits defined by Kela based on the student’s status and study progress. The exact limits depend on the individual circumstances and the type of eligible education. The loan can be taken alongside other components of opintotuki, but eligibility decisions for the loan are separate from those for the cash grant component.

Repayment and terms: Repayment typically begins after finishing studies, following a grace period defined in the loan agreement. Borrowers repay in installments according to the terms set by the lending bank, with options for flexibility in repayment in case of financial hardship. Interest accrues on the outstanding balance, with the state subsidy reducing costs during the study period.

Relation to other aid: Opintolaina is separate from opintotuki’s grant component (opintoraha). Together, they form a broader package of support for students, but each element has its own eligibility rules and terms.