Icelandic Student Loan Fund

1. Gather all documents you will need to apply for a loan. You may contact LIN to know more information and ask for assistance over the telephone and in interview from 9 pm to 4 pm on weekdays.
2. Submit a completed application form along with all the required documents.
3. Students who have submitted the required documents receive a loan schedule as student loans are not paid until after the Fund has received data confirming study performance.
4. The loan schedule will allow the student to take a short-term loan or maintenance loan in commercial banks and savings banks. You can know more about this process by visiting websites of commercial banks and savings banks.

Note: Borrowers are under obligation to notify LN of all changes to their circumstances.

List down the documents required for successfully completing the procedure.

e.g.
1. Proof of child birth from the Hospital.

Icelandic Student Loan Fund

Main Office:
Borgartn 21, IS-105 Reykjavk

Office Hours: 9 am to 4 pm on weekdays
Tel: 560 4000
Telefax: 560 4090
E-mail: lin@lin.is

Website

Students in secondary schools who are enrolled in a legitimate vocational training and other approved training can apply for loans from the Icelandic Student Loan Fund (LN).

The Fund offers student loans at educational institutions that require preparatory study comparable to university study in Iceland.

The Fund may offer student loans to other students, provided that they are pursuing special studies.

Loans are not offered for studies that form part of paid employment under an employment contract, nor are there offered loans for preparatory studies or for studies undertaken after the student has earned a doctorate degree.

Before granting any loans, LN also will have to verify if the borrower is financially competent.

To know more about eligibility criteria - allocation rules for 2014-2015

Explain the fees structure which is required for obtaining the certificate/document.

Student loans can be issued for a maximum period of five years. Students in postgraduate studies may receive a loan for an additional five years or a total of ten years. During the study period, students may be required to attend meetings to update LN of their progress.

Repayments of student loans do not begin until two years after completion of studies. Interest is calculated from completion of studies. Repayments are due twice a year.

Please attach documents that can be used by people. e.g. links

Please attach sample completed documents that would help other people.

Please explain processing time taken in obtaining the document/certificate.

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 
	

Icelandic Student Loan Fund

• Loan amounts are based on computations maintenance expenses during study time in Iceland as defined by the Fund from time to time. Maintenance abroad can differ according to country and city.
• Basic maintenance varies according to the circumstances and family status of the borrower. It is possible to apply for an additional loan due to unforeseen changes to the status and circumstances of the student.
• A loan can also be obtained to help cover school fees, if the fees exceed a certain amount in an Icelandic school and for postgraduate university studies overseas.

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.

The Icelandic Student Loan Fund (LN) grants loans to students to help them pay for their university studies in Iceland or abroad. The student, however, must fulfill certain requirements.

Student loan schemes/education finance are designed to make the student's academic life easier with its interest rate substantially lower than other loans offered in the market and repaying the loan may be deferred while the student is still in school.

Enter other informations which might help

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

• Icelandic Student Loan Fund (LN):

https://www.lin.is/lin/UmLIN/english.html

• Island.is:

https://www.island.is/en/education/students/student-loans-and-grants/

• Allocation rules 2014-2015 (PDF):

https://www.lin.is/dms/2014-2015/-L-N-Rules-uppf-r-ar-fyrir-2014-2015-/%28L%C3%8DN%20Rules%20uppf%C3%A6r%C3%B0ar%20fyrir%202014-2015%29.pdf

More information which might help people.