Prime Minister Petteri Orpo's Government, which started its work in summer 2023, will launch an overhaul of the student financial aid system. The overhaul will examine the level of study grants, the size of student loans, the amount of student loan compensation, tax-exempt income thresholds, the status of students with families, and housing support.
The Government will assess the adequacy of income limits and consider the possibility of raising them in connection with its mid-term policy review session. Better alignment of apprenticeship training and student financial aid will also be reviewed.
The Government will also implement an overall reform of the general housing allowance. With regard to students, the Government will develop a financially attractive option to complement the general housing allowance that will favour shared student housing.
Changes in the student financial aid 2023
The income thresholds for student financial aid will be raised by 50 per cent from the level of 2021. For example, a student who claims student financial aid for a period of 9 months may, from 1 January 2023 onwards, earn up to EUR 18,720 without lowering the aid amount.
In addition, the normative duration of a degree programme, entitling students who complete their studies in the target time to claim study loan compensation, may be extended by one academic year if the student proves that the delay in their studies was due to a state of war (such as the war in Ukraine) or equally serious exceptional circumstances.
The meal allowance, which lowers the price of meals in student restaurants, will be increased by EUR 0.25 to EUR 2.55 per meal from 1 January 2023 onwards. The percentage of allowance of the maximum price of meals will remain at the current level.
