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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.

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.

If you are studying or plan to study with student grants and loans

I applied for student grants and loans for the autumn semester of 2021 and the spring semester of 2022. How will I be affected?

If you have already received a decision about your student grants and loans for 2021–2022, these will follow CSN’s current rules in the autumn.

If you receive student grants and loans after the start of 2022, the new rules apply and you will receive a new loan. This means that you will have two different loan, which you have the option of combining into a single loan.

"The loan ladder is changing” – what does that mean?

At present, there is a loan ladder that applies from the year you turn 47. The loan ladder means that the amount you are allowed to borrow decreases. For each year the amount you can borrow will be reduced.

Under the new rules, this decrease will not start until the year you turn 51.

I am 23 years old and currently studying with a student loan. Will my loan be affected by these rule changes?

Yes. If you are currently receiving a student loan and will be receiving a student loan set to be paid out from 2022 onwards, you will have both an older form of the student loan and a new loan with new terms and conditions. This means that you will have two different loans to pay back.

I have heard that there are proposals for a completely different type of student finance, reorientation student finance (omställningsstudiestöd). What does this mean?

The Government, the Centre Party, and the Liberals have proposed that a new public reorientation student finance (omställningsstudiestöd) be introduced as part of labour market reform.

The reorientation student finance is designed to make it easier for people with work experience to continue their studies or start a completely new programme to strengthen their position on the labour market.

According to the proposal, a person must normally have worked for at least eight of the last 14 years, and at least one of the last two years in order to be eligible for reorientation student finance. Reorientation student finance is available until a person turns 60.

Under this proposal, it would be possible to apply for reorientation student finance from 1 October 2022 for studies from 1 January 2023.

Proposal for new public reorientation student finance (in Swedish)

If you are above the age of 56

I am 58 years old and have previously had my application for student grants and loans rejected. Do the new rules mean that I can reapply?

Yes. From 1 October 2021, you can apply for student grants and loans for studies starting in 2022. You can receive student grants and loans up until the year you turn 60.

I do not want a loan. Can I apply for just grants?

Yes. If you have weeks left, you can apply for grants until the year you turn 60.

I applied for student grants and loans, but was rejected. Do the new rules mean that CSN will automatically reconsider my application?

No. You will have to submit a new application for student grants and loans.

Repaying your student loan

If I take out a loan now – how long will I have to repay it?

The repayment period for the new loan is the same as today – 25 years or the number of years remaining until you turn 64, whichever is shorter.

Example:

  • You are 27 when you start repaying your loan. Your maximum repayment period will be 25 years.
  • You are 60 when you start repaying your loan. Your maximum repayment period will be five years.

At the beginning of the year you turn 72, CSN will write off your student loan. If you have unpaid fees or annual amounts in the last three years, these fees or amounts will not be written off.

I already have a student loan. If I take out a new loan now, does this mean that I will have two different loans?

Yes. If you already have a student loan and take out new loans after 2021, you will have two student loans.

Do the same repayment rules apply to the new loan?

The repayment period for the new loan is the same as under the current rules – 25 years or the number of years until you turn 64, whichever is shorter. At the beginning of the year you turn 72, CSN will write off your student loan. If you have unpaid fees or annual amounts in the last three years, these fees or amounts will not be written off.

Why is the Government introducing a new loan?

The Government wants to make it easier for people to reorient themselves in the labour market. For that reason, the age limit for eligibility for student grants and loans and for education entry grant is being raised. This raised age limit also means new rules concerning repayment time and age-related write-offs.

I want to continue with the old loan. How do I do this?

Since the rules are being changed, you cannot continue receiving payments through the old loan. Everyone who applies for and is granted student grants and loans after the start of 2022 will receive the new loan.

Can i repay one of the loans at once and then continue repaying the other loan?

Yes. You can repay one of the loans at once.

Can I make additional payments on my loan to repay it faster?

Yes. You can pay additional amounts on your loan.

Do I have to continue repaying my loan after I retire?

Yes – if you retire before the age of 72.

Will my loan be written off when I retire?

At the beginning of the year you turn 72, CSN will write off your loan – regardless of your age at the time of retirement.

If you have unpaid fees or annual amounts in the last three years, these fees or amounts will not be written off.

Icon for published Published: 2021-09-01
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