As mentioned in the World Happiness Report of 2021, Finland is the happiest country to study abroad. Finland is not only popular for offering happiness but is also known across the globe for offering excellence in education delivered by its world-class universities. Extending from high school to post-graduate, Finland undoubtedly offers a safe and secure environment. Studying in Finland is a great opportunity for students from all over the world, and with the help of an education loan, it can be made even more accessible. If you want to know more about education loans to study in Finland, eligibility requirements and much more, then Keep Reading!
Why Choose Finland?
Finland is a Nordic country in northern Europe, bordered by Sweden, Norway, and Russia. Finland is among the world’s happiest countries, well-known for offering pristine nature and a safe and secure environment. The country is known for its excellent education system. It is also home to some of the world’s top universities, such as the University of Helsinki and the University of Turku. Finland’s education system is considered among the best due to its precise curriculum and teaching excellence.
Education in Finland
As mentioned above, Finland is well-known for its excellent education system, with high-quality teaching and research at all levels delivered by well-qualified teachers. The education system is based on the principle of lifelong learning, which means that students can learn at their own pace and progress through different levels of education. Finland also features a broad range of study opportunities extending from high school to post-graduate and offers students various courses and programs.
Education Loan to Study in Finland
The financial crisis is one of the major problems restricting you from pursuing higher education abroad. However, the solution to this major problem is the availability of education loans to pursue higher studies abroad. Several banks and financial institutions offer education loans to study in Finland. These loans usually cover tuition fees, living expenses, and additional costs required to pursue studies in Finland.
Must Read: Study in Finland: Universities, Cost, Eligibility, Visa
Eligibility Requirements
There are a few eligibility requirements that you are required to follow in order to become eligible for an education loan to study in Finland.
- You must be a qualified Indian citizen.
- You must be at least 18 years of age.
- You must possess great academic records.
- Acceptance letter from a recognised university/college or institution in Finland.
Please note: The applicant must be able to present the necessary documents as verification if questioned.
Documents Required
There are a few documents that you are required to submit as a part of the application process for an education loan to study in Finland;
- KYC Documents (Aadhar Card, PAN Card, Passport)
- Academic Documents (Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses)
- Copy of admission letter of the Institute along with Fees schedule
- Financial Documents (Bank Statement/ Passbook of the last 6 months)
Must Read: Documents Required for Education Loan
Application Process for Education Loan to Study in Finland
The application process to pursue an education loan to study in Finland is quite simple,
- All you are required to do is conduct thorough research about the bank you want to opt for an education loan.
- Then you are required to follow the official website of the particular bank for the latest updates and notifications.
- Then you must first fill out the application form accurately and completely.
- Submit the application form along with the documents required, such as provide proof of income, academic transcripts and proof of address. The bank or financial institution will determine the loan amount based on the student’s eligibility.
Major Factors To Consider For A Student Loan In Finland
Here are a few things that you must consider when applying for an education loan to study in Finland.
- First, a co-applicant is required at the time of application, and it could be any friend, relative, parent, or other person with financial stability.
- The next important thing is having an eligible CIBIL score to get your education loan approved.
- Remember that you must submit collateral as a part of the application process.
- Financial documents of co-applicant and borrowers are a must.
- In case the co-applicant is self-employed, then they must have an ITR.
Must Read: HERE’S HOW YOU CAN GET AN EDUCATION LOAN TO STUDY ABROAD WITHOUT PARENTAL INCOME!
[BONUS] Cost of Studying and Living in Finland
As mentioned above, the cost of studying in Finland may differ depending on the type of courses, universities and location. However, the average cost of tuition ranges from €8,000 to €20,000 per year.
Now, Finland is undoubtedly an expensive country, but the cost of living can vary depending on the city and the type of accommodation you choose. The average cost of living in Finland is around €1,500 per month, including rent, food, and transport.
Please note; This is just an average cost of living. It may differ depending on the location and type of accommodation.
FAQs
Ans. The average cost of living in Finland is around €1,500 (INR 1.33 lakh) per month. This includes expenses such as rent, food, and transport.
Ans. The eligibility requirements for international students to study in Finland include an academic qualification such as a high school diploma or equivalent, a valid passport, and proof of sufficient funds to cover expenses.
Ans. You can apply for an education loan to study in Finland through banks and financial institutions. The application process requires an application form, proof of income, and the necessary documents, such as academic transcripts and proof of address.
Ready to apply for education loans? Compare different banks to find the best option for you. Contact the Fly. Finance team today to get the best deal on your education loan! Call us immediately at 1800572126 for a free 30-minute profile consultation.
