Repaying your student loan
A student loan is a cheap loan, but it pays to plan the repayment before the first instalment falls due. In this guide you find out the terms of your loan, make a repayment plan and know what to do if paying becomes difficult.
You will need
- Online banking credentials
- Your student loan promissory note or the bank's loan details
- A monthly budget
- Information on when you will graduate
Steps
Check your loan details
Look up the loan principal, interest rate, reference rate and repayment start date in your online bank. The terms of a student loan are always agreed with the bank.
Find out when repayments start
Choose a suitable loan period
Consider the interest rate risk
Check Kela benefits
Negotiate early if you run into difficulties
Consider extra repayments
The full guide with every step is for members. Try 7 days for €0.99.
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