The education loan is really a government-guaranteed loan that you need to repay. If Kela provides you with that loan guarantee it is possible to make an application for that loan at a bank that you choose.
Considering that the loan is assured by Kela there is no need to put on virtually any protection. The mortgage guarantee is legitimate for as much as three decades through the first disbursement of loan funds.
The attention payable in the loan plus the payment routine are agreed between both you and the lender.
You may get a national federal government guarantee for a student loan if you should be being compensated a research grant by Kela or a grownup training allowance by the Employment Fund. Study grant is known as to suggest other types of research grant compared to the allowance that is supplementary the purchase of research materials.
Also you may qualify for a loan guarantee in the following situations if you are not paid a study grant:
- You may be 18 or 19 years old, you reside by having a moms and dad, you’re in top additional education, and also you cannot get a study grant because of parental earnings. That loan guarantee can, but, be issued. Continue reading “Education loan”