Student grants and loans in Europe

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Date of publication any 2014 2016 2017

Found: 3

Country	Grants	Loans
Finland 2013/14 - grants and loans	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).	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.
Finland 2015/16 - grants and loans	Study grants (SG), for which a certain number of credits are required, are universal for the regular length of study. Amounts range from EUR 55.96 to 336.76/month and depend on age and whether the student lives with parent(s) as well as on the date of starting the studies. A housing supplement (HS) covers 80 % of the rent for students living independently. The maximum amount is EUR 201.60/month. HS is an integrated part of the State’s student financial aid programme, and aims to better match support to real need (i.e. less support for those students who have lower housing costs). From the student perspective, the distinction between study grant and housing supplement is therefore largely theoretical. SG and HS are available for nine months only if the student's income is below EUR 11 850/year. This is not an absolute maximum but refers to a typical situation. For each month that the study grant or housing supplement is received, the exemption amount is on average EUR 660, and for each aid-free month EUR 1 970. Assuming that a student receives aid for 9 months, (s)he would be allowed to earn 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 for 12 months a year, but typically they are taken for 9 months. Hence, a common amount is EUR 8445.24 (of which EUR 3 600 is a student loan, which is used only by 40 % of students in higher education). The maximum is EUR 11 260.32.	Student loans of EUR 400/month are government guaranteed. Higher education students who graduate within the target time can be entitled to student loan tax deduction (for studies that started prior to 1.8.2014) or compensation (for studies that started on 1.8.2014 or after).
Finland 2016/17 - grants and loans	Only full-time students are eligible for student support. The maximum annual aid is EUR 11 260.32. A common amount is EUR 8445.24 (of which EUR 3 600 is a student loan). Study grants (SG), which require the completion of an average 60 credits per year, are universal for a maximum of 64 months. Amounts depend on age and whether the student lives with parent(s). Typically, for students over 18 years living on their own the maximum is EUR 336.79. For students under 20 years living with their parents, the typical range is between EUR 62-163.80 per month. A housing supplement (HS) covers 80 % of the rent for students living independently, with a maximum of EUR 201.60/month. HS aims to match support to need (i.e. less support to students with lower housing costs). SG and HS are typically available for nine months only if the student's income, which may be earned at any time during the calendar year, is below EUR 11 850/year.	Student loans of EUR 400/month are government guaranteed. Students who graduate within the target time can be entitled to tax deduction (30 %, for studies that started prior to 1 August 2014) or compensation (40 %, for studies that started on 1 August 2014 or after). Repayment of student loan usually starts 1.5-2 years after graduation and has to be completed in usually double study time. Interest rates and conditions are agreed with the student and the bank.

Source: Eurydice, National Student Fee and Support Systems 2013/2014, 2015/2016, 2016/2017