If the scope of the degree programme is 300 credits
EUR 6,200
Student loan compensation
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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 complete your studies on time. This is called a student loan compensation.
Can you get a student loan compensation?
You can get a student loan compensation if you meet all of these requirements:
- You have started your higher education studies, i.e. registered as attending at an institution of higher education for the first time on or after 1 August 2014.
- You complete your higher education degree within the target time.
- You have student loan for your degree studies in higher education for more than EUR 2,500.
Degrees which qualify you for a student loan compensation are:
- first-cycle or second-cycle university degree
- degree from a university of applied sciences
The student loan compensation is only available for the first higher education degree you complete. 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.
You can complete your first degree in Finland or abroad. However, if you earn a first-cycle degree in a university, you can decide for yourself whether to apply for the compensation or whether to defer it until you have completed a second-cycle degree.
You can get a compensation even if your degree is not the first degree you started to complete. You may thus have started some other studies earlier than the studies that you complete first.
Several courses of study in higher education and start of the time limit
Leevi was accepted to a university of applied sciences. This is the first time he qualifies for higher education, and the study programme begins in the autumn of 2018. In autumn 2019 he is accepted to a traditional university.
Leevi discontinues his studies in the university of applied sciences and enrols in the university. He can get a student loan compensation for the university degree of 300 credits, provided that he completes the degree within the target time of a maximum of six years.
Leevi’s period of study is considered to have started on 1 August 2018, i.e. from the start of the term when he accepted the offer of admission to the university of applied sciences. Thus Leevi must complete his studies at the latest by 31 July 2024.
If you earn a first-cycle degree in a university, you can decide for yourself whether to apply for the student loan compensation on the basis of the first-cycle degree or whether to defer it until you have completed a second-cycle degree.
However, if you want to get the compensation for a first-cycle degree earned in a university, you must apply for it separately within 2 years of completing the degree.
You can be granted a student loan compensation for a second-cycle degree attained at a university of applied sciences, but only if it is the first higher education degree that you attain.
If you have for instance completed a degree from a university of applied sciences and later start studies for a second-cycle degree from a university of applied sciences, you cannot get a student loan compensation for the second-cycle degree.
What is the target time for completing your degree?
To qualify for the student loan compensation, you must complete your degree within a specified time limit. The target time for completing the degree depends on the degree you are completing.
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 a student loan compensation and in what time you have to complete your degree.
The target time for completing the degree starts from the beginning of the term when you get your first offer of admission for degree studies in an institution of higher education. The target time ends on the last day of the term in which you complete the degree.
The target time for completing the degree starts
- on 1 August if you accept your first offer of admission to a programme that begins in the autumn term (1 August-31 December)
- on 1 January if you accept your first offer of admission to a programme that begins in the spring term (1 January-31 July).
The target time for completing the degree ends
- on 31 July if you complete the degree in the spring term (1 January-31 July)
- on 31 December if you complete the degree in the autumn term (1 August-31 December).
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.
If the degree consists of 300 credits, the target time is 6 academic years.
If the degree consists of 330 credits, the target time is 6.5 academic years.
If the degree consists of 360 credits, the target time is 7 academic years.
If you complete a second-cycle university degree exclusively, the target time depends on the combined extent of the first-cycle and second-cycle degree programmes.
Second-cycle university degree exclusively
Hanna completes a second-cycle degree consisting of 120 credits. The target time to qualify for the student loan compensation is calculated by adding to it the extent of the first-cycle degree programme (usually 180 credits).
The extent of Hanna’s degree is 300 credits in total (120 credits + 180 credits), so the target time is 6 academic years. The target time starts from the beginning of the term when Hanna accepted the offer of admission to an institution of higher education.
If you complete a degree in a university of applied sciences or some other first-cycle degree, the target time for completing the degree is calculated by adding 0.5 years to the regular degree completion time.
If the degree consists of 180 credits, the target time is 3.5 academic years.
If the degree consists of 210 credits, the target time is 4 academic years.
If the degree consists of 240 credits, the target time is 4.5 academic years.
If the degree consists of 270 credits, the target time is 5 academic years.
Effect of non-attendance on the student loan compensation
Laura accepts her offer of admission to a university of applied sciences. This is the first time she qualifies for higher education, and the study programme begins in the autumn of 2019. The study programme consists of 210 credits. Laura registers as non-attending for the academic year 2019-2020. She completes her studies on 20 December 2023.
When calculating the student loan compensation, Laura’s period of study is considered as 1 August 2019 - 31 December 2023 or 4.5 academic years, because the academic year of non-attendance 2029-2020 is also included. Thus Laura is not granted a student loan compensation, because the target time for a degree of 210 credits is 4 academic years.
If you complete a degree in a foreign institution of higher education, the target time for completing the degree is determined differently than in Finnish institutions of higher education.
Have your studies been delayed?
You can get a student loan compensation even if you do not complete your studies within the target time, if your progress is slowed because of a valid reason. Acceptable reasons for slower study progress include
- military or non-military service for a continuous period of at least 30 days
- having a child, if you have received pregnancy allowance, maternity allowance, paternity allowance or parental allowance for a continuous period of at least 30 days
- an illness due to which you have received sickness allowance or infectious disease allowance for a continuous period of at least 30 days
- full incapacity for work due to which you have received rehabilitation subsidy, a pension or compensation for a continuous period of at least 30 days
- delays in the studies due to the coronavirus epidemic
- martial law or comparable exceptional situation in the country where you studied.
In order to be granted a student loan compensation, your situation must have changed within the target time for the degree. If your situation changed after the target time, you cannot get a student loan compensation.
If you complete a degree abroad, read more about acceptable reasons for slowed study progress in foreign institutions of higher education.
If you have been in military or non-military service during one term for a continuous period of at least 30 days, the target time can be extended by one term, i.e. 0.5 academic years.
If you get ill and you have received sickness allowance, infectious disease allowance, or rehabilitation subsidy, a pension or compensation on account of full incapacity for work during one term for a continuous period of at least 30 days, the target time can be extended by one term, i.e. 0.5 academic years.
The target time can in these situations be extended by at the most 2 academic years in total. In Finland, the term dates are 1 January - 31 July and 1 August - 31 December.
If the period of service or payment of a benefit lasts for a continuous period of at least 30 days, but not exclusively within any individual term, the target time can still be extended by 0.5 academic years.
If you have had a child, we can extend the target time with all the terms for which you have received pregnancy allowance, maternity allowance, paternity allowance or parental allowance for a continuous period of at least 30 days.
Even if you during any individual term have had several reasons which entitle to an extension of the target time, we can only extend the target time by one term, i.e. 0.5 academic years.
If you take longer than normal to complete your studies but we cannot accept the reason for the slowed study progress, the target time for completing the studies cannot be extended.
For instance the following situations are not acceptable reasons for granting an extension to the target time:
- Child care, if you have received child home care allowance or partial parental allowance
- Rehabilitation, if you have received rehabilitation allowance or partial sickness allowance
- Illness, if you have not received sickness allowance or some other benefit that entitles to an extension of the target time
- Employment
- Active participation in a student organisation
- Discontinuation of previous studies
- Studying for more than one degree
- Changing your line of study.
Target time for completing the degree and prolonged studies
Aino started her studies in spring 2025 and she completes a degree of 240 credits in a university of applied sciences. If she completes the degree in 4.5 academic years, she is entitled to a student loan compensation. If Aino’s studies are prolonged, the reasons that entitle to an extension of the target time are taken into account for 4.5 academic years, i.e. 1 January 2025 - 31 July 2029.
If Aino’s situation changes and her studies are prolonged after 31 July 2029, the target time for completing the degree cannot be extended, because the studies were prolonged after the target time had ended.
Extension of the deadline
Anton is completing a 300-credit degree in a university. If he completes the degree in 6 academic years, he is entitled to a student loan compensation. He accepted the place of study for a study programme starting in autumn 2019, and thus any justifiable reasons for extending the target time will be taken into account for the period 1 August 2019 - 31 July 2025.
Anton completes military service in autumn 2019 and spring 2020, and the target time for completing the degree is extended by one academic year. Anton must thus complete the degree by 31 July 2026 at the latest.
However, Anton falls ill during spring 2026 and receives sickness allowance payments for a continuous period of 35 days. The target time is extended by a further 0.5 academic years. If Anton completes the degree by 31 December 2026 at the latest, he is entitled to a student loan compensation.
Target time for completing the degree and military service
Axel gets an offer of admission to a university of applied sciences in autumn 2025 and accepts the offer. The extent of the degree programme is 210 credits, and the target time is 1 August 2025 - 31 July 2029. However, he does not start his studies in the autumn term, because he starts military service in January 2026.
Axel completes the service in December 2026 and there are no suitable courses available in spring 2027. He cannot thus begin his studies immediately after the military service. He begins his studies in the autumn term 2027.
Because Axel accepted the offer of admission for his first course of study in higher education in autumn 2025, the target time for completing the degree starts on 1 August 2025. The target time for completing the degree is only extended for the terms when Axel is in military service for a continuous period of at least 30 days, i.e. spring and autumn term 2026. The target time is extended by one academic year in total, meaning that Axel must complete the degree by 31 July 2030 at the latest in order to be entitled to a student loan compensation.
The target time cannot be extended for the autumn term 2025 and spring term 2027. If Axel wishes to get a student loan compensation, he must make sure to complete the degree by 31 July 2030 at the latest.
If you have not been able to complete all the studies included in your degree within the target time due to martial law in the country where you studied, we can extend the target time by one academic year.
The target time can also be extended by one academic year, if your graduation was delayed by some other exceptional situation that can be compared to martial law in its seriousness. This can include serious mass casualty incidents or natural disasters, large-scale armed attacks, or dangerous communicable diseases that have spread widely. The effect of the martial law or other exceptional situation must fall within the target time for completing the degree.
If you in such a situation get a negative preliminary decision on the student loan compensation, request a review of the preliminary decision. Please state the following in your request:
- the serious and exceptional circumstances that affected your studies
- in what way and during what time period the circumstances affected your studies
- which studies included in your degree you had to postpone.
If you are unsure whether the exceptional circumstances in your country of study may entitle you to an extension of the target time, please contact us.
How much is the student loan compensation?
There is a maximum limit to the amount of student loan compensation you can get. The maximum amount depends on the degree you complete.
Calculate the amount of student loan compensation that may be available to you
The student loan compensation is equal to 40 percent of the amount of outstanding student loan debt exceeding EUR 2,500. This means that you must have taken out more than EUR 2,500 in student loans during the degree studies in higher education to qualify for the compensation.
However, the student loan has a maximum limit, meaning that the loan amount taken into account in the student loan compensation is at the most EUR 400 per month. 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 a case, you will receive a compensation for the maximum amount of student loan taken into account, but not for the exceeding amount.
Check how much student loan you can get.
The maximum amount of student loan taken into account in the student loan compensation and the maximum amount of compensation depend on the degree you complete.
| Scope of the degree programme | Maximum amount of loan recognised | Maximum student loan compensation |
| 300 credits | EUR 18,000 | EUR 6,200 |
| 330 credits | EUR 20,000 | EUR 7,000 |
| 360 credits | EUR 21,600 | EUR 7,640 |
The maximum amount of student loan taken into account in the student loan compensation and the maximum amount of compensation depend on the degree you complete.
| Scope of the degree programme | Maximum amount of loan recognised | Maximum student loan compensation |
| 180 credits | EUR 10,800 | EUR 3,320 |
| 210 credits | EUR 12,800 | EUR 4,120 |
| 240 credits | EUR 14,400 | EUR 4,760 |
| 270 credits | EUR 16,400 | EUR 5,560 |
You can get a compensation for the student loan funds that you have withdrawn during your degree studies in higher education. If you have student loan debt for earlier upper secondary-level studies, that debt is not included in the loan amount taken into account in the student loan compensation. Capitalised interest on student loans, i.e. interest that has been added to the loan principal, is also not included in the loan amount. If your income is low, you can after you have completed your studies get interest assistance towards the interest on the student loan.
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 completed your studies. If you make repayments on your loan while you are still a student, that may reduce your student loan compensation. 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 complete your studies (linkki?).
Amount of student loan compensation when student loan has been paid back during the period of study
Aleksi completes a 300-credit degree programme in the target time. He has withdrawn student loan funds of EUR 20,000 during his studies and paid back EUR 5,000. He has EUR 15,000 in remaining student loan debt at the end of the term in which he completes the degree.
Since Aleksi has completed a 300-credit second-cycle degree, Kela could at the most take into account EUR 18,000 of Aleksi’s student loan in the student loan compensation.
However, Aleksi has paid back EUR 5,000 of the student loan during his studies, and therefore he has student loan left at the end of the term when he completes the degree to a smaller amount (EUR 15,000) than the maximum amount Kela can take into account (EUR 18,000). Aleksi is granted a student loan compensation of EUR 5,000 ((15,000 – 2,500) x 40%).
If Aleksi had not paid back student loan during his studies, he could have received the maximum amount of student loan compensation, i.e. EUR 6,200 ((18,000 – 2,500) x 40%).
If you complete a higher education degree abroad, the maximum amount of the student loan compensation and of the student loan taken into account in the student loan compensation is higher.
If you complete a first-cycle degree and a second-cycle degree, one abroad and the other one in Finland, the student loan compensation is calculated separately for each degree.
How to apply for a student loan compensation
You do not generally have to apply separately for a student loan compensation. You will get a decision on the student loan compensation at the latest by the end of the term after you complete your studies.
When will you get a decision on the student loan compensation?
Paavo graduates from a Finnish institution of higher education in May 2025. He will automatically get a decision on the student loan compensation from Kela at the latest in December 2025.
Even if you have not withdrawn any student loan funds during your studies, you may have used your right to a student loan compensation. You can check your data in the OmaKela e-service (available in Finnish and Swedish).
You will not get a separate decision on the student loan compensation, if you have used your right to a student loan compensation but you have not withdrawn any student loan funds during your studies.
Right to a student loan compensation
Jenna completed a degree in a university of applied sciences, but she did not withdraw any student loan funds during her studies. She is not granted a student loan compensation, because she has not withdrawn any student loan funds.
However, Jenna has used her right to a student loan compensation, because she has completed her first higher education degree. She can no longer get a student loan compensation even if she were to complete a new higher education degree and withdraw student loan funds for her new studies.
Who must apply for a student loan compensation?
You must apply separately for the student loan compensation if you want to get it after completing a first-cycle degree in a university.
You should apply for the student loan compensation for a first-cycle degree completed in a university if
- you only plan to get a first-cycle university degree.
- you plan to take a break in your studies, with the result that you will not have time to complete a second-cycle degree within the target time.
- the completing of the second-cycle degree is prolonged for a reason on the basis of which the target time for completing the degree cannot be extended
- you have not decided whether to complete a second-cycle degree and when you will complete it.
If you intend to complete a second-cycle degree within the target time and withdraw student loan funds during the studies, you will probably get a higher student loan compensation if you save the compensation for the second-cycle degree.
If you complete a degree abroad and apply for a student loan compensation on the basis of a first-cycle degree, you must notify us of the degree and apply for the student loan compensation within 2 years of completing the degree.
If you have completed a first-cycle university degree, you can decide for yourself whether to apply for a student loan compensation or whether to retain your right to it until you have completed a second-cycle degree.
- Save the application form Application for student loan compensation OT 30e (PDF) to your device and fill it in after saving it.
- Log in to the OmaKela e-service (available in Finnish and Swedish) 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 have supporting documents, send them via OmaKela (at Lähetä liite/Send an attachment) after you have submitted your application. If they are paper documents, you can photograph or scan them.
If you cannot use OmaKela, print out the completed form and send it and any supporting documents to the address Kela, PL 10, 00056 KELA.
You must apply for the student loan compensation within 2 years of completing the first-cycle degree. For example, if you complete the degree on 24 May 2025, your application must reach Kela by 24 May 2027.
If you receive an unfavourable preliminary decision
You will get a negative preliminary decision on the student loan compensation, if you have not completed your studies within the target time or if you do not have enough student loan in order to be entitled to a compensation. However, you can request a review of the preliminary decision and tell us about the factors that affected your study progress.
If you are completing a degree outside Finland
If you complete a higher education degree abroad, you can get a higher student loan compensation. 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 (in Finnish) for student loan compensation to find out if you can get a student loan compensation and in what time you have to complete your degree.
If you complete a second-cycle degree abroad
If for instance the regular degree completion time is 5 academic years, the target time for completing the degree is 6 academic years. In that case, the maximum loan amount taken into account in the student loan compensation is EUR 31,500 and the maximum amount of the student loan compensation is EUR 11,600.
The student loan has a maximum limit, meaning that the loan amount taken into account in the student loan compensation is at the most EUR 700 per month when you complete a degree abroad. 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.
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 a case, you will receive a compensation for the maximum amount of student loan taken into account, but not for the exceeding amount.
Check how much student loan you can get. (linkki)
If you attend a university and complete degrees both in Finland and abroad, see Higher education degrees completed in Finland and abroad for more information on how your student loan compensation is calculated.
First-cycle degree completed abroad
Eevi completes a three-year first-cycle degree consisting of 180 credits in a foreign higher education institution. Eevi can get a maximum of EUR 6,560 in student loan compensation. In order for Eevi to get a student loan compensation on the basis of the first-cycle degree, she must apply for it.
Higher education degrees completed abroad and in Finland
If you complete a first-cycle degree and a second-cycle degree, one 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.
The maximum amounts of student loan recognised when calculating the compensation are EUR 400 per month for degrees completed in a Finnish higher education institution and EUR 700 per month for degrees completed in a foreign higher education institution.
If you complete a first-cycle degree and a second-cycle degree, one abroad and the other one in Finland, you cannot use the calculator for student loan compensation to estimate the amount of your compensation. You can still use the calculator to estimate the target time in which you must complete the first-cycle and second-cycle degrees to qualify for a student loan compensation.
Please note that the estimated amount of student loan compensation shown by the calculator is incorrect if you complete your university degrees abroad and in Finland.
A first-cycle degree completed abroad and a second-cycle degree completed in Finland
Elias completes a first-cycle degree in a foreign higher education institution. The regular degree completion time is 3 academic years. The maximum amount of student loan taken into account in the student loan compensation is EUR 18,900 (3 x 9 months x EUR 700 per month).
After the degree completed abroad, Elias completes a second-cycle degree in a Finnish higher education institution. The degree consists of 120 credits and the regular degree completion time is 2 academic years. The maximum amount of student loan taken into account is EUR 7,200 (2 x 9 months x EUR 400 per month).
Therefore, the combined maximum amount of student loans taken into account in the student loan compensation is EUR 26,100.
If Elias takes out at least EUR 26,100 in student loans while completing these degrees, he can get a student loan compensation of EUR 9,440 ((26,100 – 2,500) x 40%).
A first-cycle degree completed in Finland and a second-cycle degree completed abroad
Niilo completes a first-cycle degree in a Finnish higher education institution. The degree consists of 180 credits and the regular degree completion time is 3 academic years. The maximum amount of student loan taken into account in the student loan compensation is EUR 10,800 (3 x 9 months x EUR 400 per month).
After the degree completed in Finland, Niilo completes a second-cycle degree in a foreign higher education institution. The regular degree completion time is 2 academic years. The maximum amount of student loan taken into account is EUR 12,600 (2 x 9 months x EUR 700 per month).
Therefore, the combined maximum amount of student loans taken into account in the student loan compensation is EUR 23,400.
If Niilo takes out at least EUR 23,400 in student loans while completing these degrees, he can get a student loan compensation of EUR 8,360 ((23,400 – 2,500) x 40%).
We will always calculate the maximum amount of loan taken into account on the basis of the first completed degree. For example, if you have completed 2 first-cycle degrees, one abroad and the other one in Finland, the maximum amount of student loan and student loan compensation is calculated on the basis of the degree which you completed first. For which of the studies you receive student financial aid or take out a student loan does not matter.
However, completing exchange studies or other study units abroad does not increase the maximum amount of loan taken into account. For degrees completed in Finnish higher education institutions, the maximum amount of loan taken into account is always the Finnish amount (EUR 400 per month), even if you complete exchange studies in a foreign higher education institution and take out a student loan for foreign study while completing your degree.
If your studies are prolonged and you have not completed them 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 target time to qualify for a student loan compensation, if your studies abroad were prolonged by a maximum of 3 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 your degree. You cannot be granted a student loan compensation, if you complete studies after the target time, 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 either 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 2 years of completing it
If you have completed a degree abroad, you should notify us of this immediately after completing the degree. However, notify us of your degree at the latest within 2 years of completing the degree. For example, if you earn a degree on 24 May 2025, you should tell Kela by 24 May 2027.
- Save the form Notification – Degree completed in a foreign educational institution OT 29e (PDF) to your device and fill it in after saving it.
- Log in to the OmaKela e-service (available in Finnish and Swedish) and select Lähetä liite (Send a supporting document). Select Opiskelu (Studying) – 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 any supporting documents to the address 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. You do not need to file a separate application after filing the notification. 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, also notify us of this on the form Notification - Degree completed in a foreign educational institution OT 29e (PDF). 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 have completed a first-cycle degree abroad, apply for a student loan compensation within 2 years of completing the degree.
- Save the form Application - Student loan compensation OT 30e (PDF) to your device and fill it in after saving it.
- Log in to the OmaKela e-service (available in Finnish and Swedish) 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 the address Kela, PL 10, 00056 KELA.
You must apply for the student loan compensation within 2 years of completing the degree. For example, if you complete the degree on 24 May 2025, your application must reach Kela by 24 May 2027.
When is the student loan compensation paid out?
We cannot make a decision on the student loan compensation until the bank has provided information about the amount of your student loan. You do not generally have to apply for a student loan compensation yourself. Read more about the situations in which you must apply for the student loan compensation yourself.
If you have completed your studies in the autumn term (1 August-31 December), we will usually decide on and pay out the compensation in April.
If you have completed your studies in the spring term (1 January-31 July), we will usually decide on and pay out the compensation in November.
We will usually pay the student loan compensation directly to the bank. We will thus pay back on your student loan with an amount that corresponds to the student loan compensation. If you have student loan debt with several banks or on several promissory notes, the student loan compensation will be paid to the bank where you have the loan with the largest principal amount.
You do not pay any tax on the student loan compensation.
If you have already paid back all your student loans and Kela is not collecting student loan debt from you, we will pay the student loan compensation directly to you.
If we as guarantors of your student loan have paid your loan to the bank, we will not pay the student loan compensation to the bank. We will primarily use the compensation to pay off on the student loan debt we are collecting from you.
You can request a review of the preliminary decision
If you have exceeded the target time, you will automatically receive a preliminary decision from us telling you that you are not granted a student loan compensation. If you have an acceptable reason for your prolonged studies, you can request a review of the preliminary decision. You must submit your request within 37 days of the date when the preliminary decision was issued. You can see the issuance date in the preliminary decision. Detailed instructions are provided in the preliminary decision and the document enclosed with it.
- Ask for a review by sending us a message in the OmaKela e-service (available in Finnish and Swedish). The message can be free of form.
- Go to Lähetä ja lue viestejä (Send and read messages). Under Aihe (Topic), select Opiskelu (Studies) and then Opintolainahyvitys (Student loan compensation).
- Send us the necessary documents in OmaKela by selecting Lähetä liite (Send a supporting document). The necessary documents are mentioned in the instructions in the preliminary decision.
If you cannot use OmaKela, you can ask for a review by calling Kela’s customer service. You can also mail the request and any supporting documents to the address Kela, PL 10, 00056 KELA.
We will process your request and issue a new decision. The new decision can be appealed to the Student Financial Aid Review Board.