Student loan calculator – monthly payment, interest and Kela student loan compensation
Calculate the monthly payment or repayment time of your Finnish student loan (opintolaina), the total interest and Kela's student loan compensation (opintolainahyvitys). Enter the loan drawn, the interest rate and when your instalments start.
The calculator follows Kela's model: interest is added to the loan for one more term after your financial aid ends, then you pay interest only until the instalments start, and the instalments are equal (annuity). If you complete your first higher education degree within the target time (määräaika), Kela pays 40% of the loan exceeding €2,500 as student loan compensation, at most €4,120 (210 credits) or €6,200 (300 credits). The compensation is deducted from the loan before repayment.
How much student loan can you get in Finland?
A higher education student can get a student loan of up to €850 a month, or €7,650 for a full academic year. In upper secondary and vocational education the amount is €400 a month under 18 and €850 from 18. The loan has a government guarantee, and the interest is usually a reference rate plus the bank's margin. Student loan interest is not tax deductible, but if your income is low Kela can pay it as assistance with student loan interest (korkoavustus; income limit €1,662 a month without children). Sources: Kela and Vero, September 2026.
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Equal instalments, same interest for the whole term. Source: Kela, 26 September 2026.
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All tools in English →You take the loan from a bank; Kela grants the government guarantee together with your financial aid.
- Only for your first higher education degree, completed within the target time.
- You must have accepted a study place in higher education for the first time on or after 1 August 2014.
- The loan for your degree studies must exceed €2,500.
- An accepted reason, such as military service, parental leave or at least 30 days of illness, can extend the target time.
- Do not repay during your studies: the compensation is based on the loan left at the end of your graduation term.
Kela pays your student loan interest if your gross income is at most €1,662 a month (more with children), for up to five half-year interest periods.