Student loan
Owner-customer benefits will be renewed
As of 1 January 2026, we will increase OP bonus earnings, the number of products that earn you bonuses will increase, and you can choose how you use your bonuses. The default option is to use them as before – for banking service charges and insurance premiums. You can also invest your bonuses in funds via OP-mobile or take out your bonuses in cash. You will also get the renewed owner-customer benefits.
Read more about the changeStudent loan helps finance life during studies
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Apply for student loan from a bank for one academic year at a time
When you need a student loan for the first time, apply for a new student loan. Then, the following years, apply for an additional loan instalment for your existing student loan.
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You decide how much you use from a granted student loan
When you access the student loan granted to you, you can draw it down in the amounts of your choice or withdraw the entire loan at once. It’s advisable only to draw down as much money as you need. A student loan must be paid back.
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No origination fee for OP cooperative bank owner-customers
If you're an OP cooperative bank owner-customer, you get a student loan without the origination fee if you apply for the loan on the op.fi service. You'll also gain other owner-customer benefits and earn OP bonuses which can be used to pay for your banking and insurance service charges.
Apply for student loan (in Finnish)
OP's customers (You can apply for a student loan in Finnish or Swedish. If you wish to fill in an application, change the website language and find the student loan application form.)
Others:
Before you apply for a student loan
Before applying for a student loan, you need a decision for a government guarantee from Kela. The government guarantee is free of charge, and it's the only collateral you will need for your loan. It's also a good idea to think about the cost of the student loan, and whether you need to draw down all or only part of the granted loan.
A student loan is applied for from the bank each academic year. When you need a student loan for the first time, apply for a new student loan. Then, in the following years, apply for an additional instalment of your existing student loan. If you are a minor, you will need your guardians consent to apply for a student loan.
Drawing down a student loan during the academic year
Student loans can be drawn down in two ways. You can select the drawdown method when you apply for a new student loan or an additional instalment for an existing loan. You can draw down the loan in the amounts of your choice with separate drawdown requests, or automatically draw down the entire loan granted to you at once.
Learn more about drawing down student loan
Student loan repayment
During the period when you receive student financial aid, interest on the student loan is added to the loan principal. Repayment of the student loan begins once student financial aid has ended. Loan interest payments will start about a year after you last received student financial aid. Actual student loan repayment (repayment of the loan principal) begins about two years after student financial aid ends.
Read more about student loan repayment
The student loan is granted by an OP cooperative bank.