Student Loan

Nordea student loan provides you an opportunity to enjoy student's life to the fullest and help in your efforts to achieve your career goals. The purpose of the loan is to help cover various expenses related to studies: tuition fee, day-to-day study expenses and studies start up expenses. It's important to note that the Nordea student loan has particularly favourable borrowing and repayment terms.

Student loan will help you to materialise your determination to study in the chosen field, ensure sufficient funding to begin studies and cover daily expenses during the course of studies. If you choose Nordea student loan you may receive up to EUR 12 000.

If you plan to study or have just began studies you have the possibility to receive a loan for:

  • For starting up studies in the amount up to EUR 710.
  • For covering tuition fee in the amount up to EUR 12 000.
  • For daily expenses in the amount up to EUR 210 per month.


If you have a student loan in another bank, find out about the possibility to transfer the loan to Nordea and, possibly, reduce your interest payments.

Types of Loan I will be a Student I am a Student I am not a Student Anymore
For starting up of studies                
For covering  tuition fee                              
For daily expenses                             
Loan refinancing                                     


Benefits

  • Opportunity to get loan to cover the entire tuition fee.
  • Money on your account for daily expenses also during summer.
  • Repayment of the principal amount starts only after graduation.
  • Bank will transfer the tuition fee to your university on your behalf.
  • Attractive terms on other bank services. Having received the student loan you will be granted the Check-in customer status, which corresponds to the status of a Silver Customer in accordance with the general conditions of the Customer Programme and the Youth Programme.


Apply for the Student Loan:

  • Fill in the online application form at here.
  • Go to Nordea Netbank Section at Applications – Loan application.
  • Call the Contact Centre at +371 67 096 096, if you are a Nordea customer.
  • At any Nordea Customer Service Unit.

It is possible to get Nordea student loan in total amount up to EUR 12 000 for covering the tuition fee.

  • Loan amount is determined on the basis of regular income of the student and/or his/her co-borrower.
  • Loan currency: EUR.
  • Loan amount shall not exceed the tuition fee defined by the university.


Criteria for Granting the Student Loan:

  • The applicant and/or his/her co-borrower must have regular monthly income of at least EUR 450 after taxes.
  • Student's and his/her co-borrower's debt liabilities at Nordea and other banks, such as credit card credit limit, overdraft, housing loan.
  • Positive credit history.
Required Documents:

  • Passport or electronic ID card of the student and his/her co-borrower.
  • Statement from the State Social Insurance Agency (can be ordered at Nordea Bank) or account statement confirming the student's and his/her co-borrower's income in the last 6 months.
  • Learning Agreement signed with any of the higher education institutions listed in the section List of accredited higher education institutions  (required only before signing the loan contract).
  • If the applicant has been already studying for more than 6 months he/she must provide a statement issued by the education institution confirming that applicant is a student at the particular education institution.

Important!
If you study at university or college, which is not mentioned in the Nordea list of cooperation partners - educational institutions, you must twice a year on specified dates submit to the bank a statement confirming your status as a student.

Granting Procedure:

  • Based on the submitted application and supporting documents, the bank will examine the debt liabilities of the student and/or his/her co-borrower to see whether there are any outstanding debts.
  • After the loan has been granted, the student and his/her co-borrower open accounts at Nordea Bank to be used for receiving their monthly salary and making of monthly interest payments.
  • The student and his/her co-borrower sign the student loan contract.
  • The loan granted for covering the tuition fee is transferred to the account of the university/college twice a year on the dates specified in the contract.
Loan Repayment:

  • If the loan amount does not exceed LVL 2000 or EUR 2850 the loan repayment period is 5 years after graduation.
  • If the loan amount exceeds LVL 2000 or EUR 2850 the loan repayment period is up to 10 years after graduation.
  • Maximum credit period from commencing the studies until the last payment day is 15 years.
  • Repayment of the loan must begin on the 7th month after graduation. In case a student withdraws from studies, the repayment of loan must start on the 4th month after withdrawal.
  • Monthly student loan repayment amount consists of a payment of the principal amount and the interest. Interest rate will be set depending on your customer status at the bank. For example, a Silver Customer qualifies for lower interest rates compared to rates applied to a Bronze Customer.

If you are planning to study or have just started your studies you have the opportunity to qualify for a loan for starting up of studies in the amount up to EUR 710 in addition to the tuition fee or daily expenses loan.

  • Loan currency: EUR.
  • Loan amount is determined based on the regular income of the student and/or his/her co-borrower.
  • This loan is available only if you have a tuition loan or daily expenses loan at Nordea Bank.


Criteria for Granting the Loan:

  • The applicant and/or his/her co-borrower must have regular monthly income of at least EUR 450 after taxes.
  • Student's and his/her co-borrower's debt liabilities at Nordea and other banks.
  • Other debt liabilities at Nordea or other banks, such as credit card credit limit, overdraft, housing loan.
  • Positive credit history.
Required Documents:

  • Passport or electronic ID card of the student and his/her co-borrower.
  • Statement from the State Social Insurance Agency (can be ordered at Nordea Bank) or account statement confirming the student's and his/her co-borrower's income in the last 6 months.
  • Learning Agreement signed with any of the higher education institutions listed in the section List of accredited higher education institutions (required only before signing the loan contract).

Important!
If you study at university or college, which is not mentioned in the Nordea list of cooperation partners - accredited educational institutions, you must twice a year on specified dates submit to the bank a statement confirming your status as a student.

Loan Granting Procedure:

  • Based on the submitted application and supporting documents, the bank will examine the debt liabilities of the student and/or his/her co-borrower to see whether there are any outstanding debts.
  • After the loan has been granted, the student and his/her co-borrower will open an account at Nordea Bank to be used for receiving their monthly salary and making of monthly interest payments.
  • The student and/or his/her co-borrower sign the student loan contract.
  • The granted one-off amount for starting up of studies will be transferred to the student's account at Nordea Bank on the date specified in the contract.
Loan Repayment:

  • Loan repayment period is 10 years after completion of studies.
  • Repayment of the loan must start on the 7th month after graduation. In case a student withdraws from studies, the repayment of loan must start on the 4th month after withdrawal.
  • Monthly student loan repayment amount consists of a payment of the principal amount and the interest. Interest rate will be set depending on your customer status at the bank. For example, a Silver Customer qualifies for lower interest rates compared to rates applied to a Bronze Customer.

In order to avoid stress regarding daily expenses in the course of studies you have the opportunity to receive a separate loan to cover such expenses in the amount of EUR 210 per month, also in summermonths.

  • Loan amount is determined based on the regular income of the student and/or his/her co-borrower.
  • Loan currency: EUR.


Criteria for granting the Student Loan:

  • Applicant and/or his/her co-borrower must have regular monthly income of at least EUR 450 after taxes.
  • Student's and his/her co-borrower's debt liabilities at Nordea and other banks, such as credit card credit limit, overdraft, housing loan.
  • Positive credit history.
Required Documents:

  • Passport or electronic ID card of the student and his/her co-borrower.
  • Statement from the State Social Insurance Agency (can be ordered at Nordea Bank) or account statement confirming the student's and his/her co-borrower's income in the last 6 months.
  • Learning Agreement signed with any of the higher education institutions listed in the section List of accredited higher education institutions (required only before signing the loan contract).
  • If the applicant has been already studying for more than 6 months he/she must provide a statement issued by the education institution confirming that applicant is a student at the particular education institution. 

Important!
If you study at university or college, which is not mentioned in the Nordea list of cooperation partners - accredited educational institutions, you must twice a year on specified dates submit to the bank a statement confirming your status as a student.

Granting Procedure:

  • Based on the submitted application and supporting documents the bank will examine the debt liabilities of the student and/or his/her co-borrower to see whether there are any outstanding debts.
  • After the loan has been granted, the student and his/her co-borrower will open an account at Nordea Bank to be used for receiving their monthly salary and making of monthly interest payments (if agreed that the repayment of interest will start already in the course of studies).
  • The student and his/her co-borrower sign the student loan contract.
  • Every month, including summer months, the granted amount is transferred to the student's personal account at Nordea Bank on the date chosen by the student.
Loan Repayment:

  • If the total loan amount does not exceed EUR 2850 the loan repayment period is 5 years after graduation.
  • If the total loan amount exceeds EUR 2850 the loan repayment period is up to 10 years after graduation.
  • Maximum credit period from commencing the studies until the last payment day is 15 years.
  • Repayment of the loan starts on the 7th month after graduation. In case a student withdraws from studies the repayment of loan must start on the 4th month after withdrawal.
  • Monthly student loan repayment amount consists of a payment of the principal amount and the interest. Interest rate will be set depending on your customer status at the bank. For example, a Silver Customer qualifies for lower interest rates compared to rates applied to a Bronze Customer.