The change also brings a change to the eligibility conditions for the student loan reimbursement.
The annual income limits will be raised to a level 50 percent higher in 2023 than in 2021. Compared to 2022, the income limits will increase by about 20 percent.
Students receiving a nine-month study grant can have up to 18,720 euros in income before taxes next year. The corresponding limit for students receiving a 10-month study grant is 16,640 euros.
No monthly income limit applies to the study grant. Students can earn their income at any time during the calendar year, as long as it does not exceed the annual income limit.
It may take longer for students studying in the patient state to complete their degree and receive student loan compensation
Students who complete their degree within the deadline can receive student loan compensation. In the academic year 2021–2022, approximately 40 university students in Ukraine received financial support from Finland. These students, who were forced to interrupt their studies in Ukraine due to the Russian invasion of Ukraine, could lose their right to student loan reimbursement.
The change in law makes it possible to extend the target time for obtaining a degree for students attending school in a state of martial law. The target period can be extended by one academic year.
For example, students completing a 300-credit university degree are typically eligible for student loan reimbursement if they complete their degree in six academic years or less. However, if there is a state of war in the country of study, students can receive student loan compensation if it takes seven academic years to complete their degree.
The target time for completing the degree can also be extended by one academic year in other exceptional circumstances comparable in severity to wartime. This could be a major mass accident or natural disaster, a large-scale armed attack, or a widespread dangerous infectious disease.
In 2021, the average student loan reimbursement for students who completed a degree at a foreign university was 8,210 euros.
Source: The Nordic Page