Student loan

Student loan amount

In the academic year 2026/27, a maximum of €6000 can be taken out as a student loan. If your studies last less than 9 months, you can get a student loan up to €3000.

Application conditions

You can apply for a student loan if:

• you are a citizen of the Republic of Estonia or hold a long-term residence permit or the right of permanent residence in Estonia;
• your studies last at least 6 months according to the curriculum and you are studying:
  • full-time or part-time at an Estonian university, university of applied sciences, or vocational educational institution; or
  • in vocational education based on secondary education at a vocational educational institution or a university of applied sciences; or
  • abroad in an educational institution and study format equivalent to those listed above.
• you are not on academic leave;
• you do not have any outstanding debts.

Please note that you can receive a student loan at the same study level only as many times as the nominal duration of that level of studies. For example, if you studied in a bachelor’s programme with a nominal duration of 3 years and took a student loan three times, you cannot receive another student loan if you start a new 3-year bachelor’s programme.

The period of academic leave is not included in the calculation of the nominal duration.

• If you do not have an account with Swedbank, please open one before submitting your student loan application on the page “Become a customer”.
• To receive a student loan, fill in the application and then sign the student loan agreement in Internet Bank.
• The agreement will enter into force after we have verified the application data and signed the agreement.
• The loan amount will be transferred to your account from 15 September 2026, provided that all conditions for receiving a student loan and the requirements set out in the Study Allowances and Study Loans Act are met, including confirmation of your eligibility and that the maximum number of times to receive a student loan at the given level of study has not been exceeded.

Before concluding the student loan agreement, please review the pre-contractual information: Student Loan Info (PDF).

For technical reasons, it is not possible to conclude a student loan agreement between 22:00 and 00:00.

Additional information required when studying abroad

If you wish to apply for a student loan while studying abroad, please send two digitally signed PDF documents to oppelaen@swedbank.ee:

1. Transcript of a certificate from an educational institution abroad (PDF).
2. A certificate from the foreign educational institution containing the following information:
   • your name and personal identification code or date of birth;
   • faculty and field of study;
   • whether you are studying full-time or part-time;
   • level of studies: vocational education based on secondary education, bachelor’s, master’s or doctoral studies;
   • start and expected end date of studies (nominal duration);
   • ISCED (International Standard Classification of Education) level code.

   If the certificate is not in Estonian, English or Russian, we have the right to request a certified translation.

The certificate and transcript from an educational institution abroad are valid for one academic year and must be submitted each academic year. If these are not submitted, we will consider that you have left the educational institution, prepare a repayment schedule, and loan repayment will begin.

If you graduate from a foreign educational institution, please submit your diploma. If you leave the institution for any other reason, please notify us via a bank message or by sending a digitally signed application to oppelaen@swedbank.ee.

Please note! According to a student loan issuance contract made between Swedbank and the state, student loan contracts are entered into only in the Estonian language. Therefore, the student loan documents available for signature in the English version of Internet Bank are in Estonian. We rely on your kind understanding and ask you to contact Customer Support at 6 310 310 for assistance and further information.

You can only have a student loan agreement with one bank.

How to transfer your student loan from another bank to Swedbank:

• if you do not have a Swedbank account, open one on the “Become a customer” page;
• fill in a student loan application in Internet Bank and indicate that you wish to transfer your loan to us;
• so that we can contact your current bank and clarify your student loan details, download the consent for data transfer (PDF), sign it digitally and send it to oppelaen@swedbank.ee;
• we will contact you.

A student loan is a state-guaranteed loan.

• A student loan taken for the 2026/27 academic year does not require a surety or real estate collateral.
• For student loan agreements concluded before the 2026/27 academic year, a collateral requirement applies: at least one surety provider or a mortgage on immovable property located in Estonia, unless it is possible to amend the agreement to more favourable terms.
  For more information on changing the terms of the agreement, please see “Manage your loan”.

If you wish to transfer your student loan from another bank and the loan agreement must continue to have collateral, or if you need to replace the collateral, the following conditions apply.

• Surety provider

A person suitable as a surety provider for a student loan is an adult with legal capacity who is a citizen of the Republic of Estonia or resides in the Republic of Estonia on the basis of a permanent right of residence or a long-term residence permit, and whose regular, verifiable income for the past 6 months is at least equal to the minimum wage in force in Estonia.
The surety provider may also conclude a suretyship agreement at a bank branch without the student being present; for this, the student’s personal identification code and student loan agreement number are required.
If the surety provider’s income is not received in a Swedbank account, they must submit a digitally certified account statement for the last 6 months from another bank before concluding the suretyship agreement. It can be sent to oppelaen@swedbank.ee or submitted at a bank branch where the suretyship agreement is concluded.

• Immovable property collateral

Immovable property suitable as collateral must belong to the student loan applicant or their parent(s). A mortgage will be established on the immovable property provided as collateral in favour of Swedbank. The approximate amount of the mortgage can be calculated by multiplying the desired loan amount by 1.3. Additional costs related to establishing the collateral include notary fees, state fees, property valuation fees and insurance premiums.

Repayment of student loan

• Interest starts accruing immediately after the loan amount has been disbursed and continues until the loan is fully repaid. Interest is calculated on the outstanding loan balance.
• During your studies, you pay the interest calculated for the previous period on 31 October of each academic year. The interest is debited automatically from your Swedbank account.
• After completing your studies, you will start repaying the loan principal and interest on a monthly basis according to a repayment schedule prepared by the bank. The repayment schedule will be made available in Internet Bank within 45 days after graduation or discontinuation of your studies. The repayment date is the 1st day of each month.
• You must start repaying the loan principal no later than 12 months after graduating or otherwise leaving your educational institution. Upon application, we may extend the start of the repayment period to 18 months. If you resume your studies within 12 months, you do not need to start repaying the principal. Please inform us about continuing your studies and your wish to cancel the repayment schedule by sending a bank message or a digitally signed application to oppelaen@swedbank.ee.
• The repayment period is up to four times the nominal duration of your studies, but not longer than 25 years in total. If you discontinue your studies, the loan must be repaid within a period equal to one and a half times the duration of your studies, but not less than 6 months and not longer than one and a half times the nominal duration of the study programme.
• If you wish to amend the repayment schedule, for example to shorten the loan period, please send a bank message or a digitally signed application to oppelaen@swedbank.ee. A service fee may apply for amending the schedule.

Student loan price list

Early repayment

You can partially or fully repay the loan before maturity, free of charge. To do this, please send a bank message or a digitally signed application to oppelaen@swedbank.ee at least 2 working days in advance.

State benefits

• Under the Study Allowances and Study Loans Act, you can suspend the repayment of the principal amount of the student loan until your child reaches the age of 3 (provided that the other parent has not already used a student loan grace period on the same basis), as well as during periods of military service and residency.
• During the grace period, the state will pay the interest on your behalf. To use the grace period, submit an application to the bank together with a document confirming your eligibility for the grace period (your child’s birth certificate or a certificate from your military unit). The grace period will apply from the next working day after the application and supporting document have been submitted to the bank.
• If, after receiving the loan, the borrower loses their capacity for work, continuously cares for a child with a severe or profound disability, or dies, the state will repay the student loan in full. If the student loan has been obtained after the borrower has been declared incapable of work or after the borrower’s child has been diagnosed with a severe or profound disability, the state will not repay the loan.

How to formalise a state benefit?

To apply for a grace period, please submit the following to us:

• a free-form application;
• a document serving as the basis for granting the grace period, such as the child’s birth certificate or a certificate from your military unit.

If you continuously care for a child with a severe or profound disability or have no capacity for work, please submit the following to us:

• student loan deletion application (PDF).

If the borrower dies, the following must be submitted to us:

• a free-form application for student loan write-off;
• the borrower’s death certificate.

The documents can be submitted digitally signed to oppelaen@swedbank.ee.

If your student loan agreement was concluded before the 2026/27 academic year, you can amend its terms to obtain more favourable conditions.

• If you are still studying or less than 12 months have passed since completing your studies, you can obtain a longer repayment period (up to four times the nominal duration of your study programme), a lower interest rate, and release the collateral.
• If you do not meet the above conditions, you will be eligible for a lower interest rate.

You can also change the current account used for servicing the loan.

These changes can be made in Internet Bank starting from 10 September 2026.

To amend the agreement, log in to Internet Bank, go to the "My obligations" page and click "Change" next to your student loan agreement. If you have multiple agreements, changes can be made to each agreement separately. Please note that changes cannot be made on the payment date.

If you wish to make other changes, for example to reduce the number of guarantors to one, please send a bank message or a digitally signed application to oppelaen@swedbank.ee.