From the fall, the Loan Fund offers loans until you are 50

Money Basic IncomeMoney. Photo: Pixabay.com

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From the next academic year, you can apply for a Norwegian State Educational Loan until you are 50 years old, without reducing the support amount. Today, the age limit is 45 years.

In addition, the age limit when the loan must be repaid is raised from 65 to 70.

Furthermore, the requirement of at least 50 per cent study load is removed in order to receive support. This means that you can also get support if you study, for example, 20 percent next to a job.

“The loan fund will help as many people as possible to complete upper secondary education,” said CEO Nina Schanke Funnemark of the Norwegian State Educational Loan Fund.

Nearly 600,000 adults aged 25 to 66 have not completed upper secondary education today.

The new schemes also apply to students in higher education but here the supplementary loan is limited to 100,000 kroner annually and a maximum of 200,000 kroner.

© NTB Scanpix / #Norway Today

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