Opiskelijakolmikko kahvilassa

Student loan increases and drawdowns

Apply for a student loan increase when continuing your studies

Have you already drawn down a student loan, and are you continuing your studies? After you have been granted a loan guarantee for the next academic year, you can apply for a student loan increase on the op.fi service. You do not need to provide information about the loan guarantee, as the bank will receive it directly from Kela.

How to apply for a student loan increase:

  1. Check in Kela’s digital service channel that you have been granted a loan guarantee for the next academic year.
  2. Log in to op.fi and apply for an increase to your student loan. Increases to existing loans are subject to a service charge, so we recommend that you check the pricing of your bank before applying. OP cooperative bank’s owner-customers get the increase to their student loan with no service charge by filing the loan application online.
  3. The loan is available for drawdown on the next banking day.

Apply for an increase to your loan

Don’t have a student loan yet?

Read more about student loans and apply for a student loan online.

Is your student loan still available for drawdown for this term?

If you have selected automatic drawdowns according to the student financial aid decision, you do not need to make a drawdown request. In this case, you will receive the money in your account automatically on the first possible payment date.

Make a drawdown request for your student loan on the op.fi service when you have chosen separate drawdowns. Separate drawdowns may be subject to a charge, so please check your bank’s list of charges and fees before making a drawdown request.

See the bank’s list of charges and fees

Make a drawdown request for your student loan

Before drawing down a student loan, check Kela’s student financial aid decision

You can check the schedule for student loan drawdowns during the academic year in Kela’s student financial aid decision before drawing down. The dates may change, but usually student loans can be drawn down in two instalments during the academic year:

  • in the autumn term, at the earliest on 1 August
  • in the spring term, at the earliest on 1 January

If the first drawdown date falls on a weekend or bank holiday, in practice, the loan can be transferred to your account on the next banking day.

 

The student loan is granted by an OP cooperative bank.