Income
Student income
The primary source of income for students in Finland is usually the student financial aid. In all issues concerning the student financial aid you should turn to the Helsinki University of Technology’s (TKK) Student Financial Aid Office. The web pages of the Social Insurance Institution in Finland (KELA) contain information on income and student financial aid.
Financial aid for students
International students and Finnish study allowances
Non-citizens of Finland can get financial aid for studies in Finland if they live in Finland on a permanent basis for a purpose other than studying. This requires that they are registered as a permanent resident in the Finnish population register system. The purpose of residence in Finland is determined by reference to such matters as the residence permit, registration or acceptance to an educational institution.
If you come to Finland solely for the purpose of attending a school, you cannot get Finnish student financial aid. You can get more information about your right to Finnish Study allowance from Kela (The Social Insurance Institution of Finland).
Student financial aid - What it is
Student financial aid is intended to provide an income to financially needy students whose parents are not under obligation to finance their studies and who are not eligible for aid under some other provisions. In order to qualify for student financial aid, you must be a full-time student, make satisfactory academic progress, and be in need of financial assistance.
Financial aid is available in the form of study grants, housing supplements and government guarantees for student loans. Study grant and housing supplement are government-financed benefits with monthly payments to the student’s bank. The study grant is subject to tax. If you are granted a government loan guarantee, you can apply for a student loan with a bank of your choice. The bank will contact Kela (The Social Insurance Institution of Finland) to check the loan guarantee details.
What kind of studies are supported?
Student financial aid is available for full-time post-comprehensive school studies lasting at least eight weeks at an upper secondary school, folk high school, vocational school or institution of higher education. Financial aid is also available for studies abroad.
More information is available at http://www.kela.fi/in/internet/english.nsf/.
Short Term Loans
The TKY grants its members short term loans of either € 200 or € 400, for a maximum of three months time. To receive the loan, you need two TKY members for your sureties. Each student may only have two short term loan liabilities at a time. For instance, person being a surety for two loans will not be eligible to take a loan for himself, and if you have a taken a loan, you may become a surety to only one loan. Handling fees are € 8.4 and € 13.5, depending on the loan. Interest on arrears is 16 %.
Further information by email from the TKY’s treasurer ([email protected]).