2,500 euros in the 2021/2022 academic year or 1,250 euros if the duration of your studies is less than nine months.

The number of times the loan is granted to you depends on the length of the standard period of your studies.

5% on the loan balance per year.

Interest is due on 3rd November every year or as agreed in the loan repayment schedule.

Tied to the standard period of study and/or the actual time during which a person studies and is eligible for a student loan pursuant to law.

The following security must be provided to obtain the loan:

• sureties from two Estonian citizens or persons* holding a long-term residence permit or the right of permanent residence or
• mortgage on residential property located in Estonia that is owned by you, your spouse, or a close relative.

*A surety provider must be 18–70 years of age and have received a regular and documented income equal to at least the current national minimum wage in the past three months.

You can apply for a student loan if

• you are a citizen of the Republic of Estonia or hold a long-term residence permit or the right of permanent residence and
• the duration of your studies according to the study programme is at least six months.

You must also

• study full-time or part-time in an Estonian university, institution of professional higher education, or vocational education institution or
• be in formal education in an Estonian vocational educational institution or institution of professional higher education on the basis of secondary education or
• study in an equivalent educational institution and equivalent form of study abroad.

You are not eligible for a student loan if you are on academic leave or have student loan arrears.

More about the requirements set for student loan applicants:

• You may have a valid student loan agreement with only one of the banks that issue student loans.
• You must have a current account in SEB to allow disbursement of the loan and payments related to the loan.
• If you study or start to study in a foreign educational institution, you must submit a certificate issued by your school or university, which indicates the study programme, form of study, study loan, start of studies, standard period of study and the ISCED (International Standard Classification of Education) code. You have to submit an attested translation of the certificate if it is not issued in Estonian, English or Russian. Fill in the application for a certificate of a foreign educational institution (EST).

You have to start repaying the principal of your student loan not later than one year after you graduate or terminate your studies, unless you resume your studies before one year has lapsed from termination.

After you graduate or terminate your studies, you must repay the loan principle and interest according to the schedule prepared by the bank, generally in equal monthly payments (annuity schedule).

You can use a grace period in relation to childbirth, military service or time spent in residency.
Repayment of the student loan and payment of interest will be suspended for the duration of parental leave (unless the other parent of the child has been granted a grace period for student loan on the same basis). Repayment of the student loan and payment of interest will also be suspended during military service and for the period of medical residency. The state pays the entire interest on the student loan for this period to the bank.

If you would like to apply for a grace period, you must submit a grace period for student loan application (EST)and the child’s birth certificate before the child attains three years of age or a certificate issued by the military unit before the end of your military service. Please note! The grace period is applied from the moment the relevant certificate and application are submitted and not retroactively from the start date of the period of eligibility.