Denmark - Guidance To Apply Student Loan

ProcedureEdit

To those who are taking a higher education programme and have already availed all possible study grants he/she is eligible to, you can get additional financial aid in the form of a loan. You can receive a completion loan in the last year of your studies. Interest is paid on the completion loan and it is paid back on the same terms as the regular State Loan. You can receive a completion loan for a maximum of 12 months.

Applying for a loan: To apply for a student loan, you must approve the loan scheme in your SU folder. It will be better if you apply for a student loan and then do not approve the loan certificate before you actually need the loan. If you do this, you can have the money paid to you retroactively. If you do not apply until later, you are not entitled to receive the money retroactively. You can decide how much money you wish to borrow each month (There is, however, a maximum limit to how much you can borrow). You can therefore borrow only the amount of money you actually need and in this way minimize your debt. Get in touch with your school in case you have any question.

Disbursement of funds - NemKonto Account: Funds coming from a study grant, loan and study abroad scholarship are deposited to the recipient's NemKonto account in monthly instalments. A NemKonto is an ordinary bank account which the student already has and which the public authorities use when they pay out money. Get in touch with your bank to inquire how you can apply for a NemKonto account.

Paying back the loan: Upon completion of your studies, you must start paying back your State loans. The repayment must begin one year after the end of the year, in which you have completed your studies. The duration of the period of repayment must not exceed 15 years.

Required DocumentsEdit

List down the documents required for successfully completing the procedure.

e.g.
1. Proof of child birth from the Hospital.

Office Locations & ContactsEdit

State Educational Grant and Loan Scheme (SU - Statens Uddannelsessttte)

Contact Information

Website

EligibilityEdit

Every Dane over the age of 18 is entitled to public support for his or her further education - regardless of social standing.

FeesEdit

During the period of study, the State loans will carry a 4% annual interest rate. On completion of the studies, the annual interest rate is the discount rate of the Danish Central Bank plus an adjustment which can be negative or positive, but at most plus 1 percentage point.

ValidityEdit

Upon completion of your studies, you must start paying back your State loans. The repayment must begin one year after the end of the year, in which you have completed your studies. The duration of the period of repayment must not exceed 15 years.

Documents to UseEdit

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Sample DocumentsEdit

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Processing TimeEdit

Please explain processing time taken in obtaining the document/certificate.

InstructionsEdit

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e.g. The state office holds birth records since january 1908.

Required InformationEdit

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.

Need for the DocumentEdit

The Danish students' Grants and Loans Scheme offers financial support to students regardless of social standing.

Tuition at Danish public and most private educational institutions is free for Danish students and for EU/EEA students as well as for students participating in an exhange programme. Beginning 2006 all other students have to pay a tuition fee. Through the grants and loans scheme students can get help in covering living costs for a great variety of courses and studies. Support for students' living costs is awarded by the State Educational Grant and Loan Scheme (Danish acronym: SU), a system managed by the Danish Agency for Higher Education (Styrelsen for Videregende Uddannelser) in collaboration with the educational institutions and under the auspices of the Danish Ministry of Science, Innovation and Higher Education.

Information which might helpEdit

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External LinksEdit

State Educational Grant and Loan Scheme (SU - Statens Uddannelsessttte):

http://www.su.dk/English/Sider/agency.aspx

OthersEdit

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