Student loans in Finland average €12,000

Last year, the number of students who took out a loan fell for the first time in more than ten years.

A person picks up a book in the library of the University of Helsinki. — Image: Henrietta Hassinen / Yle

A total of 145,300 students took out a government loan in the 2023-2024 academic year.

According to benefit agency Kela, this means a decrease in student loans of 15 percent compared to the previous academic year.

The average student debt balance is 11,953 euros.

In 2023, the median loan balance for master’s students was 23,803 euros.

Overall, the number of student loan holders has increased in recent years. However, in 2023 the number of borrowers fell compared to the previous year, marking the first decline in fifteen years.

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