New student loan from 2022 with a higher age limit
The Riksdag is introducing a new student loan with a higher age limit – raising it from 56 to 60 years. The new loan will be introduced for all students taking out loans from 2022. The age limit for individuals studying with education entry grant is also being raised from 56 to 60 years.
A growing number of people need to continue their studies at a higher age. Average life expectancy is increasing, new professions are emerging, and the pandemic is changing the labour market.
At present, you can receive student grants, loans and education entry grants up until the year you turn 56. From 1 January 2022, it will be easier to study later in life as the age limit will be raised to 60. At the same time, a new loan will be introduced for anyone studying with student grants and loans and receiving loans from 2022 onwards. As the legislation will enter into force as early as 1 October, these new rules will apply to all applications for student grants and loans to be paid out in 2022 submitted from this date.
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A new loan from 2022
The new loan means that you can study with student grants and loans until the year you turn 60.
- At present, eligibility for student grants and loans changes from the year you turn 47. That age marks the start of a decrease in the amount you are allowed to borrow. Under the new rules, this decrease will not take effect until you turn 51.
- If you already have student loans and want to take out a loan under the new rules, you will need to repay two different loans. You have the option of combining the loans into a single loan.
- The repayment period for the new loan is 25 years or the number of years remaining until you reach the age of 64, whichever is shorter. CSN will then write off your student loan at the beginning of the year you turn 72.
Raised age limit also applies to education entry grants (studiestartsstöd)
If you have been unemployed for more than 6 months and want to start studying, you can contact your home municipality and apply for the education entry grant.
- At present, you can receive education entry grant up until the year you turn 56. On 1 October, this age limit for studies beginning from 1 January 2022 will be raised. Under the new rules, you can apply for education entry grant up until the year you turn 60.
FAQ about the new loan and the raised age limit
Here you will find a FAQ about the higher age limits and the new loan. The raised age limits will apply to studies beginning 1 January 2022. Everyone who receives payments of student grants and loans after the start of 2022 will receive the new loan.