Redeem your loan or pay more quickly

Applies to those who want to redeem their loan, pay extra or pay off more quickly.

Account number and KID

Your invoice includes all necessary information you need. If you cannot find the invoice, please use this:
  • Account number: 7694.05.20300
  • KID number. This is always the same, you may find it in earlier invoices or under your profile in Dine sider, og du finner det på Dine sider og tidligere regningene.
  • Term amount. You may find this when logging into Dine sider.

You can pay extra or redeem your loan at any time

If you are going to pay an extra large amount or pay off your entire debt, you can do so, but you should be aware that there are benefits to having loans with Lånekassen compared to having loans with other banks.

Benefits of student loans

Lånekassen’s loans are accompanied by social welfare schemes, such as free credit insurance in the event of disability and death. This means that all or part of your debt can be deleted if you become disabled. If you die, your entire debt will be deleted. No-one will inherit any debts that you have with Lånekassen.

In addition, you can defer payment for up to three years in total, without having to have any particular reason for doing so. You can also have the interest on your loan deleted and avoid having to make payments for a while if you get into financial difficulties, e.g. if you become unemployed or sick.

Redeeming your student loan

If you log in to Dine sider, you will find general details about the amount of debt you have, Lånekassen’s account number and your KID (customer identification) number. If you wish to redeem your loan, you can pay your entire debt off at any time to the same account number and using the same KID number you normally use. Your total amount of debt can be found under "Your Debt" on Dine sider. This is the amount you should pay when you redeem your debt.

If you have received a bill from us, the invoice will specify the amount of debt remaining after you have paid your bill. In order to pay everything you owe, you can add this amount to your ordinary payment.

However, you may still risk receiving a bill for a small amount after making payment if interest and fees have accrued that have not appeared on Dine sider.

Loans that can be converted into a grant

If your entire debt is a loan that can be converted into a grant, you can apply for a deferral of payment until the conversion takes place. If you choose to pay instead, and therefore have less debt when the conversion takes place than the amount converted, you will be refunded the difference.

If you are waiting to have part of the loan converted into a grant, you can pay according to your payment plan. Even then, you will be refunded any difference.

You can pay extra

If you want to pay extra, you can do so at any time by using the payment information available on Dine sider, or by increasing the amount on your bill. Paying extra means paying more than the amount due or overdue, including any fees and penalty interest on late payment that have been added.

When you pay extra, you will reduce your total debt, and your fixed instalment amount will be lower for the remainder of the period over which you are due to pay off your loan. If you have a fixed rate of interest and want to pay extra, please read the information further down on this page.

You cannot settle your invoices in advance

Future invoices cannot be settled in advance. If you pay an amount that you have not been invoiced, this amount will be considered an extra payment, not an advance payment for future instalments. If you then fail to pay the next invoice, you will receive a reminder.

If you want to pay a large amount in order to achieve a payment-free period, you can do as follows: Pay the amount and apply for repayment deferral for the upcoming instalments. You can apply for repayment deferral for up to six months at a time.

Repayment plan

Your debt may be changed

Conversion for 2023 will take place in the autumn of 2024 when we receive information from the Norwegian Tax Administration.

If your debt is changed, we will adjust your repayment plan and erase the interest accrued on the amount that is converted to a grant. 

Your repayment plan applies until conversion has taken place.

Check your debt

Log in and see how much total debt you have and whether you have a conversion loan.

A woman and a man looks at a phone at work. Photo.

Do you have a fixed interest rate?

If you have a fixed interest rate agreement, you may risk increasing or decreasing your debt due to interest losses or gains when you redeem your loan or pay it off more quickly.

When you enter into a fixed interest rate agreement, you also enter into an agreement to pay off your loan in accordance with a fixed plan. Therefore, if you redeem your loan or pay extra, we will calculate whether or not Lånekassen will gain or lose as a result of the plan being amended. The interest loss or gain will be added or deducted from your debt.

Interest losses if current fixed interest rates are lower than your fixed rate of interest

We calculate how much Lånekassen will lose in interest income if you pay extra or redeem your loan, and we add this amount to your debt.

If you redeem your loan, we will send you a separate bill for this amount.

Interest gains if the current fixed interest rates are higher than your fixed rate of interest

We calculate how much interest income we earn if you pay extra or redeem your loan, and we deduct this amount from your debt.

If you redeem the loan, we will transfer the money to your account.

Read more about interest losses and gains

You can pay off your loan more quickly

Most people have a repayment plan that spans 20 years. If you wish to pay faster, you can change your repayment plan on Dine sider.

Below you can calculate what you should pay per month if you choose a shorter repayment time.

You can adjust your repayment plan later on if you wish.

If you still have a loan and grant, have deleted some of your debt or your loan has been transferred to the Norwegian National Collection Agency, you cannot change your repayment plan. 

Furthermore, you cannot change your repayment period if you have a fixed interest rate agreement.

You can see how long your repayment time is and change it on Dine sider.

Change your repayment plan

betalingskalkulator

What are student loans?
Converting loan to a grant

Relevant rules