Interest is calculated from the first day of the month following your graduation. We also calculate interest if you interrupt your education or when you are no longer entitled to financial support.
Repayment
- After graduation, you will receive a repayment programme stipulating how much you have to pay and a prognosis for the time frame of you repayment period
- The first payment is normally made about seven months after graduation
- There are twelve instalments per year
Special schemes for difficult life situations
Lånekassen has schemes and arrangements that ordinary banks do not have. In cases of low income, unemployment, illness, childbirth or care of small children, we may waive the interest and you may postpone repayments for a period. You must apply for this yourself at your personal pages, Dine sider. You can also apply on paper by use of Application Form I.
In some cases we may cancel all or parts of the loan. This applies if you live and work in certain parts of Northern Norway. All, or parts of the loan, may also be cancelled if illness prevents you from working (it is a requirement that you receive a disability pension from the National Insurance Scheme). Your debt is cancelled in case of death.
What if you move from Norway?
You must normally repay your loan even if you move from Norway. You may nonetheless be entitled to relief from paying interest, to deferred payments, and to cancellation of the debt if you are in a situation that entitles you to this. You must apply for this yourself. We will need documentation of your situation and your income. If you return to your home country and your earnings are low, we may waive interest and extend your period of repayment.
The quota programme: Special repayment rules
If you have received support from Lånekassen under a quota programme, your entire study debt may be cancelled when you return to your home country. If you remain in Norway or in a country other than your home country, you must repay the loan. Read more about the quota scheme.