Kela: Income limits for student financial aid to be raised significantly

The income limits for student financial aid will be increased by 50 percent from 2021. Additionally, the target time to earn a degree and qualify for a student loan compensation for higher education students can be extended by one academic year. The changes will take effect on 1 January 2023.

1.11.2022

News article

Parliament has approved an amendment to the Act on Student Financial Aid, raising the income limits applicable to student financial aid. The amendment will also bring a change to the qualifying criteria for a student loan compensation. The limits on annual income will be raised across the board in 2023 to a level 50 percent higher than that applicable in 2021. Compared to 2022, the income limits will go up by about 20 percent.

Students who get financial aid for 9 months can next year have up to 18,720 euros in earnings before taxes. The corresponding limit for students who receive financial aid for 10 months is 16,640 euros.

No per-month income limits apply to student financial aid. Students can earn their income at any time during the calendar year as long as it does not exceed the annual income limit.

Source: Kela

Read the full Kela’s bulletin here.

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