Payment of financial aid to students studying abroad

Kela pays financial aid into your bank account in Finland. The payment date is the 1st of each month or the immediately following business day. Any backdated payments will normally be deposited to your account within two banking days of the date on which the decision was given. 

If you would like the payments to be made into a foreign bank account, indicate the name, BIC code and address of the bank and your IBAN account number on the financial aid application.

You must cover any additional costs of having financial aid paid abroad.

Calculation of financial aid

You can use the calculator linked below to calculate the estimate the amount of the study grant, housing supplement and loan guarantees you can get based on information you enter into the calculator. You do not have to be logged in to use it.

To calculator

Amount of the study grant

The amount of the study grant and the eligibility criteria are usually the same as those which apply to studies completed in Finland.

The study grant is taxable income.

Amount of the housing supplement

If you study abroad and live in rental accommodation, your housing supplement will be EUR 210 per month. Your housing costs do not affect the amount of the housing supplement.

Parental income will not affect the amount of the housing supplement as of 1 August 2019.

If you do not live abroad for study reasons, you cannot be paid the housing supplement.

The housing supplement for foreign study is not available if you live your parent or in an owner-occupied home. The term 'owner-occupied' refers to any home owned by yourself, by your spouse or partner or by your parent. The bostadsrätt housing available in Sweden is equated with owner-occupied housing.

The housing supplement is tax-free income.

In countries where prevailing rents are low, the housing supplement was in 2019 and earlier

  • EUR 58.87 per month in Bulgaria, Romania and Slovenia
  • EUR 75.68 per month in Belarus, Czech Republic, Estonia, Latvia, Lithuania, Poland, Russia and Ukraine
  • EUR 109.32 per month in Slovakia and Hungary.

If your rent is higher than the above amounts, state the amount of the rent in your application. You can be paid a housing supplement which is equal to your rent, up to EUR 210 per month. Kela may ask you to provide details of your housing costs.

Amount of the loan guarantee

The loan guarantee will be EUR 800 per month for all who are studying abroad.

Before going abroad, talk to your bank about the details concerning the disbursement and repayment of student loans.