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    Repayment of loans

    Sist oppdatert: 29.12.2017

    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.

    Practical information on payments from abroad

    If you have a Norwegian bank account

    • The easiest and cheapest way to repay your student loan is if you have a Norwegian bank account.
    • As long as you have a Norwegian social security number you may open a bank account in a Norwegian bank.
    • You can transfer a set amount from your bank abroad to your Norwegian account.
    • You can register for direct debit (avtalegiro) or an electronic invoice service (e-faktura).

    Avoiding costs

    Lånekassen introduced monthly repayment in 2014. As long as you have a Norwegian bank account, you may still transfer a quarterly amount to save costs. Set up a direct debit (avtalegiro) in your Norwegian bank to make it easier to repay your student loan.

    If you have a foreign bank account

    • You need a SWIFT-number. It is the unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers.
    • If you do not have online banking, please contact your local bank and order a SWIFT transaction.
    • You can transfer money in the local or Norwegian currency.
    • Your bank needs to know the receiver (Lånekassen) and what the transfer is for.
    • You will need the following information to make the transfer:

    Statens lånekasse for utdanning
    Postboks 4551
    8608 Mo i Rana
    Kontonr./IBAN-nr: NO84 63450508715
    SWIFT/BIC: NDEANOKK
    Bank: Nordea Bank Norge ASA

    • You need your KID-number or your allocated costumer number in Lånekassen. You will find both of these numbers on Dine sider and on your last invoice.
    • If the transfer is made by someone else, please note that they must add your name and something to identify you (costumer number, KID-number or date of birth), to the transfer.
    • You can not pay by using VISA.

    Payment by cheque

    You can pay with a cheque. You make the transfer in the local currency. Please remember to add your KID-number or your allocated costumer number in Lånekassen, when writing the cheque. You also have the option to use a currency cheque at your local bank or a Norwegian bank. Please note that depositing of cheques is a very time consuming way to transfer money.

    Prepayment is no longer possible

    It is no longer possible to make payments in advance, but you can still repay your loan more quickly, if you wish. In most cases, making an extra payment will mean that the monthly amount will be lower while the repayment period remains the same.

    If you pay late

    You will be charged with a 280 NOK fee if you do not pay by the due date. You will receive a notice of termination of your loan and a 490 NOK fee.

    Important information about your student loan

    Charges for late payment

    If you pay the bill late, interest will be charged on the amount due, starting on the day after the due date. The interest on late payment is fixed by the Ministry of Finance. At present the interest rate is 8,5 per cent. There will also be a charge for sending a reminder.

    If you do not keep up your loan repayments, the loan will be cancelled and the debt will be transferred to the Norwegian National Collection Agency. Interest will then be charged on the entire loan. Read more about interest on late payment and reminder charges at www.lanekassen.no/gebyr.

    You can change the due date

    You can choose to repay your student loan on the 5th, 15th or 25th of each month. If you do nothing, the payment date will be the 15th of each month. You can change the payment date on Dine sider at www.lanekassen.no.

    You can reduce the repayment period

    You can choose to increase the amount of the monthly payments and reduce the repayment period. You can do this on Dine sider.

    Charges must be paid as they arise

    If you apply for a postponement after the due date, you may have to pay a reminder charge. The same applies if you pay after the due date. From now on, charges and costs from previous bills that have not been paid will be added to future bills until they have been paid. Read more at www.lanekassen.no/gebyr.

    Delayed payment, interest exemption and waiver

    You can still apply for delayed payment if you are unable to pay your bill. You can do this on Dine sider. You may be entitled to a total delay of up to 36 months during the course of the whole repayment period. You can also apply for interest exemption or a waiver of debt if you fulfil certain conditions. Read more at www.lanekassen.no/tilbakebetaling.

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