What is student finance?
student finance can consist of grants and loans. A grant is money that you are given, while a loan must be paid back. Here you find information about the different student finances that CSN administrates.
If you are studying at upper secondary school, you can receive study allowance up to and including the spring semester of the year you turn 20 years old. Study allowance consists of different grants, such as a student grant and supplementary allowance. Supplementary allowance is a grant that you can receive if your family's income is below a certain limit.
Student grants and loans
You can apply for student grants and loans as of the autumn semester of the year you turn 20 years old, or if you are studying a post-secondary education. If you have a child, you can receive additional grants. You must pay interest on the loan, which is set by the Government. This year (2016) the interest rate is 0.6 per cent. You can chose to borrow less money than you are entitled to or request to only receive the grant if you wish.
Education entry grant
The education entry grant is for those, who are unemployed and need to complete a primary or upper-secondary education to be able to get a job. It is a grant that you can receive for a maximum of 50 weeks if you study full time. It is the municipality that first assesses if the person belongs to the target group to be able to apply for the education entry grant. It is also there that you submit your application.
Study allowance for people with disabilities
If you have a hearing impairment or motor impairment, you can get the study allowance for people with disabilities if you study at
- the national upper-secondary schools for the deaf and hearing impaired in Örebro
- the national upper-secondary schools for severely motor impaired adolescents in Angered, Kristianstad, Skärholmen or Umeå.
Paying back student loans
You must pay back the money you have borrowed. You must then also pay interest. Even if you leave Sweden, you must continue to pay back the money. If you move, you must notify CSN of your new address.
How much money you pay back each year depends on:
- how much you have borrowed
- how high the interest rate is
- how many years you have to pay back the loan.
You normally start repaying your loan at the earliest six months after receiving your last student grants and loans from CSN. You repay your loan over 25 years at the most, and you must have completed payment by the time you turn 60 years old.
If you have trouble repaying the loan, for instance if you do not have an income, you can apply to pay less during a certain period. It is CSN that decides whether you are allowed to pay less.