The Norwegian State Educational Loan Fund, known as Lånekassen in Norwegian, will reduce its floating rate by 0.148 percentage points as of November 1.
The Loan Fund is a state agency that allocates loans and grants to Norwegian and some international students.
As of November, the interest rate will be the lowest in the history of the Loan Fund.
The new floating interest rate of the Treasury will be 1.391% as of November 1.
Today, 645,000 clients of the Loan Fund have a floating interest rate, while 43,000 clients have a fixed interest rate.
The next fixed rates will be announced before October 10.
The Loan Fund’s interest rates are set based on the average of the top five offers in the market.
Based on that, 0.15 percentage points are deducted to form the Loan Fund’s interest rate.
© NTB Scanpix / #Norway Today