Kela, Finland's social insurance institution, has announced that it may reclaim student grants from over 28,000 students who have reported incomes that surpass the set annual earnings limit for the year 2024. The limit is determined by the duration for which the student has received support; for example, if a student received grants for nine months, the income threshold would be set at 18,720 euros. This policy seeks to ensure that financial support is aligned with students' actual financial needs and circumstances.

The average amount students will need to repay is 1,087 euros, which reflects the overpaid student assistance. Kela states that any excess funding received will be reclaimed with an added interest rate of 7.5%. This initiative not only aims to correct financial discrepancies but also to maintain the integrity of the support system in place for students pursuing their education in Finland.

The total amount expected to be reclaimed stands at a staggering 30.7 million euros, indicating the scale of the issue and the potential impact on numerous students' finances. This situation has raised concerns among students about their financial stability and the implications of strict regulations, emphasizing the importance of understanding the conditions tied to financial assistance provided by Kela.