Estonia - Guidance To Apply Student Loan
ProcedureEdit
Applying for a loan
Study loans are granted on the basis of the Study Allowances and Study Loans Act.
A loan may be applied for at any time during the academic year, from mid-September to 1st of June. A study loan may be taken for the duration of the standard term of study for a given curriculum.
Study loans are available from all major banks. To know more about loan conditions and the application process, get in touch with a bank representative.
The following security must be provided to obtain the loan:
- sureties from two Estonian citizens or persons holding long-term residence permits, who have been earning regular and documented income.
- mortgage on property located in Estonia
Details regarding loan security may vary per bank, it will be better if you check the bank's website to know more.
Tip: You may not need to accept the entire amount loan amount the bank is offering you. Since you will be paying back the loan sometime in the future, it will be more ideal if you will only borrow what you need.
Required DocumentsEdit
- an identity document or an officially authenticated extract from the page of that document which contains personal data;
- in the case of an alien, a document which contains a notation concerning his or her long-term residence permit or permanent right of residence or an officially authenticated copy of that document or, in the absence thereof, a certificate from a competent authority concerning any other legal basis for the alien to stay in the Republic of Estonia;
- in the case of a student studying abroad, a certificate from the foreign educational institution concerning his or her enrolment in full-time study and the nominal period of studies according to a curriculum at the educational institution, in case of a pupil, the nominal period of studies according to the curriculum;
- information on the sureties or an immovable situated in Estonia which is to be encumbered with a mortgage or a building or a legal share of a building situated in Estonia which is to be encumbered with a pledge;
- information on the loan commitments of the applicant for the study loan and the sureties or the rights encumbering the pledged object;
Note: The credit institution/bank may ask you to present additional documents, check the bank's website first before going to their branch office to apply for a loan.
Office Locations & ContactsEdit
Ministry of Education and Research
Munga 18
50088 Tartu
Tallinn Office:
Tnismgi 11
15192 Tallinn
Office Hours:
Monday to Friday 8.30-17.00
Telephone: (+372) 735 0222
Fax:(+372) 730 1080
E-mail:[email protected]
Register for an appointment.
EligibilityEdit
State-guaranteed long-term loan: The right to receive a study loan is held by a full-time student who is an Estonian citizen or resides in Estonia on the basis of a long-term residence permit or permanent residency.
FeesEdit
Entering into a student loan agreement is free of charge
ValidityEdit
State-guaranteed long-term loan : You may need to start repaying your loan 12 months after finishing your studies or after completing the curriculum to the full extent.
Documents to UseEdit
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Sample DocumentsEdit
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Processing TimeEdit
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Related VideosEdit
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InstructionsEdit
State-guaranteed long-term loan
A study loan is a state-guaranteed long-term loan that can help students cover the costs of their studies either in Estonia or abroad. Student loan can be used to pay tuition fees, purchase a computer or cover living costs.
Applicants for a student loan must be a full-time student who is an Estonian citizen or resides in Estonia on the basis of a long-term residence permit or permanent residency.
The maximum permissible amount of study loan is reviewed and determined by 1st of August of each year by the Government of the Republic.
Required InformationEdit
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.
Need for the DocumentEdit
Designed to help students pay for university/college tuition, books, and living expenses, student loan differs from other types of loans with its interest rate substantially lower and repayment of the loan may be deferred while the student is still in school.
Some banks offers this specific type of loan to their customers. A student loan can also be obtained through a government student loan program, this may not be the case in all countries so it will be better if you will check first if such program exists in your country.
Following is a guide on how students can apply for a loan or seek financial aid in Estonia.
Information which might helpEdit
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Other uses of the Document/CertificateEdit
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External LinksEdit
- Ministry of Education and Research :
- Estonia's State Portal:
- Study Allowances and Study Loans Act:
OthersEdit
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