Student loan compensation after studying abroad
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We can pay back some of your student loan if you draw it down during degree studies in a higher education institution and graduate on time. This is called a student loan compensation.
Eligibility for the student loan compensation
The student loan compensation is only available for the first higher education degree you complete. You can complete your first degree in Finland or abroad. For example, if the first degree you complete is from a university of applied sciences, your student loan compensation is based only on that degree. Even if you do not take out a student loan for your studies in the university of applied sciences, you cannot get a student loan compensation for a university degree completed after it.
However, if you earn a first-cycle degree in a university, you can decide for yourself whether to apply for the compensation at that time or whether to defer it until you have completed a second-cycle degree .
How is the student loan compensation granted?
Target time for completing your degree when studying abroad
To qualify for the student loan compensation, you must complete your degree within a specified time limit. The target time for completing the degree is determined on the basis of the scope of the degree or the regular degree completion time. If you complete a first-cycle degree and a second-cycle degree or only a second-cycle degree, the target time for completing the degree is calculated by adding one year to the regular degree completion time .
The target time for completing the degree also includes the terms for which you have registered as non-attending or your studies have been interrupted for instance before you start new studies.
Use the calculator for student loan compensation to find out if you can get student loan compensation and in what time you have to complete your degree.
How much is the student loan compensation?
The student loan compensation has a maximum amount, and the loan amount that is taken into account in the student loan compensation also has a maximum amount. When you complete a degree abroad, the loan amount taken into account in the student loan compensation is at the most EUR 700 per month.
You can calculate the maximum amount of the student loan compensation so that nine months' worth of loan is recognised for each full academic year and five months are recognised for each term.
Completing exchange studies or other study units abroad does not increase the maximum amount of loan taken into account in the student loan compensation. If you are studying for a degree in a Finnish higher education institution, the maximum amount of student loan is always calculated on the basis of the degree you complete in Finland (EUR 400 per month). This is the case even if you have been on study exchange in a foreign higher education institution and received student loan for studies abroad.
You can also take out a higher amount of student loan during your higher education studies than the amount taken into account in the student loan compensation. In such case, you will receive compensation for the maximum amount of student loan taken into account, but not for the exceeding amount. You can get a compensation for the student loan funds that you have withdrawn during your degree studies in higher education.
Capitalised interest on student loans, i.e. interest that has been added to the loan principal, is not included in the loan amount. If you have a low income after graduation, you may get interest assistance from Kela.
The amount of the student loan compensation is based on the loan amount that you have left on the last day of the term in which you graduated. This means that it is generally not in your interest to start paying back student loan during your studies or during the term in which you graduate.
Check how much student loan you can get.
Higher education degrees completed abroad and in Finland
If you complete a first-cycle and a second-cycle degree , one degree abroad and the other one in Finland, the student loan compensation is calculated separately for each degree. In that case, the maximum amount of student loan taken into account in the student loan compensation is calculated separately for the first-cycle degree and the second-cycle degree.
When you complete a degree in a Finnish higher education institution, the loan amount taken into account in the student loan compensation is at the most EUR 400 per month. When you complete a degree in a foreign higher education institution, the loan amount taken into account is at the most EUR 700 per month.
We will always calculate the maximum amount of loan taken into account in the student loan compensation on the basis of the first completed degree. For example, if you complete two first-cycle degrees (?), one in Finland and another one abroad, the maximum amount of student loan and student loan compensation is calculated on the basis of the degree which you complete first. For which of the studies you receive student financial aid or take out a student loan does not matter.
Were your studies abroad prolonged?
If your studies are prolonged and you have not graduated on time, you can still get a student loan compensation. Read more about acceptable reasons for prolonged studies.
You can also get an extension to the time limit to qualify for a student loan compensation, if your studies abroad were prolonged by a maximum of three months for either one of the following reasons:
- The award of the degree certificate was delayed for a reason not due to you.
- The start and end dates of the terms in the foreign educational institution were different than the ones applied in Finland.
However, you must have completed your studies within the target time for completing your degree. You cannot get a student loan compensation, if you complete studies after the target time for completing the degree even if the educational institution applies different start and end dates for the terms or the award of the degree certificate is delayed.
If your studies abroad are prolonged, inform us of the start date for your studies and your last day of active study, the reason for the delay in the award of the degree certificate and the start and end dates of the terms. You can provide the information when you are applying for a student loan compensation or when you are requesting a review of the preliminary decision.
Notify us of the degree you have completed abroad within two years of your graduation
If you have completed a degree abroad, notify us of this immediately after you have graduated. However, notify us of your graduation at the latest within two years of the graduation. For example, if you earn a degree on 24 May 2025, you must tell Kela by 24 May 2027.
How to notify us of a degree completed abroad
- Save the form Notification – Degree completed in a foreign educational institution OT 29e (PDF) to your device and fill it in.
- Log in to OmaKela and select Lähetä liite (Send a supporting document). Select Opiskelu (Students) – Ilmoitus ulkomaisessa oppilaitoksessa suoritetusta tutkinnosta (Notification of degree completed in a foreign educational institution). Add the form from your device and also attach the degree certificate. Send the attachments.
If you cannot use OmaKela, print out the completed form and send it and the related documents to Kela, PL 10, 00056 KELA.
If you have completed a second-cycle degree abroad and this is the first higher education degree you have completed, you will automatically get a decision on the student loan compensation when you have notified us of the degree you have completed abroad. If you have student loan debt, you will get a decision when we have received information from your bank on the amount of your student loan.
If you have completed a first-cycle degree abroad , first notify us of this. After that you can either apply for a student loan compensation for the first-cycle degree or choose to wait until you have completed a second-cycle degree. If you decide to apply for the compensation on the basis of the first-cycle degree, you must apply for it within 2 years of completing the degree. You will receive a decision once the bank has informed Kela of the amount of your student loan.
How to apply for a student loan compensation when you have completed a first-cycle degree abroad
If you have completed a first-cycle degree abroad, notify us of the degree completed abroad and apply for a student loan compensation within two years of your graduation.
- Save the application form Student loan compensation OT 30e (PDF) to your device and fill it in.
- Log in to the OmaKela e-service and select Tee hakemus (Complete an application) – Opiskelu (Students) – Opintolainan korkoavustus, opintolainahyvitys tai -vähennys - tee hakemus (Interest assistance with student loans, student loan compensation or deduction - file an application). Select the form on your device and send it.
If you cannot use OmaKela, print out the completed form and send it to Kela, PL 10, 00056 KELA.
You must apply for the student loan compensation within two years of graduating. For example, if you graduate on 24 May 2025, your application must reach Kela by 24 May 2027.
When is the student loan compensation paid out?
If you get an unfavourable preliminary decision from us, you can request a review. In the request, you can tell us why your studies were prolonged. How to request a review.