The Social Insurance Institution of Finland (Kela) has announced that income limits for student loan interest aid will increase starting March. Adjustments to these income thresholds will see an increase of approximately 70 to 90 euros, depending on the individual's family situation. For instance, a single person who has recently completed their studies will see their new income limit set at 1,662 euros per month.

The interest aid program is designed to assist students with the costs associated with their student loans, specifically the interest payments. This support can be disbursed either directly to the borrower or to the bank that holds the loan. One key point to note is that eligibility for this aid is contingent upon the borrower no longer having their interest payments capitalized, which means moving to a stage where they independently handle their interest payments.

These changes in the income limits aim to provide enhanced financial support for students transitioning from their studies into the workforce. By raising these limits, Kela intends to make the repayment of student loans more manageable for graduates, thereby easing some of the financial burden that comes with pursuing higher education in Finland.