Student loan & Carefree student life with a student loan

Student loan & Carefree student life with a student loan

Start repaying after you have graduated

Student loan repayment begins only in two years’ time after your studies are completed.

OP’s owner-customer benefits

As an owner-customer, you can get a student loan with no service charge, provided you filed your loan application at In addition, you will receive a discount on banking services and OP bonuses.

Apply for a loan online without handling costs

You can conveniently apply online (in Finnish) and save on the loan handling costs.

OP’s customers (in Finnish)

not empty

Many people say it’s stupid not to draw down a student loan because it’s so cheap. You’ll get a lot of benefit from the loan if you spend it wisely.

Focus on what’s most important

While studying, you do not need to work to get along financially. Our student loan enables you to focus on studies and on living your life outside of school and to take the fast track to graduation.

We can offer you a student loan at low cost and you will not have to make any repayment until you graduate. Use your student loan as you like – for example, for rent, clothes, study supplies or travelling.

Student loan compensation

If you started your studies after 2014, you may gain up to thousands of euros from the student loan compensation by graduating on time. The student loan compensation accounts for 40% of the loan amount exceeding 2,500 euros.

How to apply for a student loan

Automatic government guarantee

The government guarantee for your student loan is the only collateral that you need when applying for the loan. When KELA makes its decision on granting student financial aid, it automatically gives a guarantee decision to all those university students who it confirms as study grant beneficiaries.

Apply online (in Finnish)

You can apply for a student loan and draw it down into your account conveniently online by logging into with your online user identifiers. In such a case, you will automatically receive a student loan decision electronically and be able to draw down the loan via OP eServices.

Applying for a student loan is possible even if you are not yet OP’s customer. In this case, file the application without logging in. We will then call you within 1–3 business days. In the case of approval, please go the agreed OP cooperative bank branch to finalise your student loan application.

Repayment 2 years after graduation

Student loan repayment begins in two years’ time after the expiry of the student financial aid. You do not even have to pay interest on your loan during your studies.

When granting and supervising a loan, the bank uses the personal credit information of the loan applicant, obtained from the credit data files of Suomen Asiakastieto Oy.

Are you a new student? Read our instructions for student loan applications.

Are you an existing student? You need to apply for a student loan from your bank each academic year. Note! If you are continuing your studies and have already drawn down student loan, you should apply for extra to the loan. For more information, read the section “Continuing your studies? Apply for extra” on this page.

1. Remember to get a loan guarantee first from Kela

To apply for a student loan, you need Kela’s valid student loan guarantee. University students receive this guarantee decision automatically together with their student grant decision. If you are in secondary education, apply for a loan guarantee from KELA using a separate form when applying for a study grant and housing supplement. We recommend applying for the loan guarantee for the entire period of studies in one go.

When the loan guarantee decision has been made, your bank gets this information directly from Kela.

2. Apply for a student loan online

  • OP’s customers: The most convenient way to apply for a student loan is by logging into When you file the application online, you will automatically receive the loan decision via this service.
  • Other customers: You can apply for a loan on even if you are not OP’s customer. File the application without logging in and we’ll call you within 1–3 banking days. If the application is approved, we ask you to go to the agreed OP cooperative bank branch to finalise your student loan application.

If you are a minor, you can apply for a student loan at an OP cooperative bank branch with the consent from your parents/guardians.

3. Loan is available for drawdown on the next banking day

After your application has been approved, the student loan will be available for drawdown in most cases on the next business day already. If you have chosen automatic drawdown according to the student financial aid decision, the money will be available on your account on the first possible payment date.

Note! If the first drawdown date falls on a weekend or bank holiday, the loan can be transferred to your account in practice on the next day banks are open, i.e. on the next banking day.


New loans are subject to an origination fee, which is deducted from the first drawdown amount. Owner-customers get the loan with no origination fee by filing the application online.