Apply for a government guarantee for the student loan from Kela
You can apply for a student loan from the bank if you have a valid student loan guarantee from Kela. The government guarantee is free of charge and it's the only collateral that you'll need. When you have received a guarantee decision on a student loan, your bank will receive information about the decision automatically from Kela.
Try the student loan calculator to understand the costs of a student loan
The student loan calculator is a handy tool when you plan to take out a student loan. It lets you test how the duration of your studies, loan amount, interest and repayment period affect the cost of your student loan.
Select how you want to draw down the student loan
Before filling in the student loan application, you should consider how you plan to draw down your loan. Student loans can be drawn down in two ways. 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.
Become an OP cooperative bank's owner-customer
The origination fee of the student loan is €0 for OP cooperative bank owner-customers. An origination fee will be charged each academic year when you apply for a student loan. In addition, owner-customers earn OP bonuses on their student loan, which can be used to pay loan fees.
How to apply for a new student loan or an increase to your existing loan
Apply for a new student loan by submitting the student loan application if you don't have a student loan yet. If you already have a student loan, you can apply for an increase to your existing student loan. A student loan is applied for the same way whether you are applying for a new loan or an addition to your existing loan.
How to apply for a student loan:
- Check the decision you have received from Kela to see whether you have been granted a loan guarantee.
- Apply for a student loan in the op.fi service by filling in the student loan application. At the moment, you can apply for a student loan only in Finnish or Swedish. If you wish to fill in an application, change the website language and find the student loan application form.
- We will send you the loan decision by messaging you in OP's digital services. Your loan application may be approved or rejected.
If you are a minor, you will need your guardian's consent to apply for a student loan. You can book a meeting appointment by phone or ask your guardian to book an appointment for you. You do not need to submit a loan application online.
What to do if you already have a student loan and the loan has instalments available for drawdown
If you selected automatic drawdowns according to the student financial aid decision in your application, you don't need to do anything. We will automatically transfer the loan to your account on the first possible drawdown date or on the weekday following it. You can see the drawdown dates in Kela's student financial aid decision.
If you have already applied for a student loan for the academic year and selected separate drawdowns as the drawdown method for your loan, send a drawdown request. Send a drawdown request only if your loan's availability period has started. Check the loan's first drawdown date in Kela's student financial aid decision.
Can I apply for a student loan as a customer of another bank?
To apply for a student loan from OP, you need to be an OP cooperative bank customer. If you become an OP cooperative bank owner-customer, you get your student loan without an origination fee and many other benefits.
Example of a student loan calculation
The annual percentage rate of charge for a loan of 4,500 euros with a loan term of 15 years is 3.36%, based on a 12-month Euribor interest rate of 2.070% (as of June 2025) plus a margin of 0.5%, loan origination fee of 30 euros and a surcharge of 2.50 euros/month for automated monthly billing. The estimated total cost of the loan is 6,081.69 euros, with 112 repayment instalments in total. This calculation assumes that the loan is drawn down across five years, and that the borrowing rate and charges and fees remain unchanged throughout the loan term.
The student loan is granted by an OP cooperative bank.