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
A student loan is applied for the same way, regardless of whether you are applying for the first time or for an addition to your existing loan. A student loan is applied for from the bank each academic year.
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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 to only draw down the amount you need. Student loans 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 in the op.fi service. You'll also gain other owner-customer benefits and earn OP bonuses which you can use to pay, for example, for 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:
How to apply for student loan
Before applying for a student loan, you need a decision for a 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 a bank for one academic year and reapplied for every academic year. The application process is the same, regardless of whether you are applying for the first time or for an addition to your existing loan. When you apply for an addition to your existing student loan, the new loan is automatically merged into your existing loan. This will not increase the number of your loans or your loan servicing costs.
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.
How can I draw down a student loan during an academic year?
Student loans can be drawn down in two ways. You can choose the drawdown method when you apply for a student 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.
Read more about drawing down a student loan
How is a student loan repaid?
During the period when you receive student financial aid, interest on the student loan will be added to the loan principal. In other words, the interest is capitalised. 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 approximately two years after student financial aid ends.
Learn more about student loan repayment
The student loan is granted by an OP cooperative bank.