Finland 2013/14 - grants and loans

Student grants

Study grant (SG), for which a certain number of credits is required, is available for the regular length of study and depends on age and whether the student lives with parent(s). Amounts range from EUR 55 to 298/month.

A housing supplement (HS) covers 80 % of the rent for students living independently. The maximum amount is EUR 201.60/month.

SG and HS are available only if the student's income is below EUR 11 850/year. This is not an absolute maximum but refers to a typical situation where the student receives aid for nine months: For each month during which you receive study grant or housing supplement, the exempt amount is on average EUR 660, and for each aid-free month EUR 1 970. Assuming that you received aid for 9 months, you would be allowed to have up to EUR 11 850 a year in other income. The income may be earned at any time during the calendar year.

SG and HS can be taken 12 months a year, but typically they are taken 9 months. Hence, a common amount is EUR 7 196 (of which EUR 2 700 is a student loan, which is used only by 40 % of students in higher education).

Loans

Study loans of EUR 300/month are government guaranteed. Higher education students admitted from August 2005 who graduate in the normative time are entitled to tax deduction for study loans.