Pursuing higher education in Norway is a dream for many students. Known for its excellent universities, high-quality education, and student-friendly environment, Norway continues to attract both local and international learners. However, even with tuition-free public universities, students still face expenses such as housing, food, transport, and study materials. That’s where choosing the best loan for students in Norway in 2025 becomes important.
This guide will help you understand the student loan system in Norway, eligibility requirements, repayment plans, and tips for finding the right loan for your needs.
Why Students Need Loans in Norway
While tuition is free at most public universities, living in Norway can be expensive. According to 2025 estimates, students in Oslo spend between NOK 12,000 – 14,000 per month on living costs. Expenses include:
- 🏠 Accommodation – student housing or private rentals
- 🍲 Food and groceries
- 🚍 Transportation – monthly bus, train, or metro passes
- 📚 Books, supplies, and digital resources
- 💻 Technology and internet bills
Student loans provide financial stability so you can focus on your studies instead of worrying about day-to-day expenses.
The Norwegian State Educational Loan Fund (Lånekassen)
The main source of student loans in Norway is Lånekassen (Statens Lånekasse for Utdanning), a government-managed loan and grant system.
Key Features in 2025:
- Loans + Grants – A part of your loan can be converted into a grant if you complete your studies successfully.
- Low Interest Rates – Government-subsidized interest rates, much lower than private loans.
- Flexible Repayment – Repayment starts after graduation, with options for income-based payments.
- Support for International Students – EU/EEA students and some international students may qualify under certain conditions.
Best Student Loan Options in Norway (2025)
While Lånekassen is the primary source, students may also explore:
1. Lånekassen Loans (Recommended)
- Best for: Norwegian citizens, permanent residents, and EU/EEA students.
- Benefits: Low-interest rates, partial grants, flexible repayment.
2. Private Bank Student Loans
Banks like DNB, Nordea, and SpareBank 1 offer student-friendly credit lines or loans.
- Best for: International students not fully eligible for Lånekassen.
- Benefits: Quick approval, additional financial flexibility.
3. International Student Loans
Some global financial providers partner with Norwegian universities to support non-EU/EEA students.
- Best for: Students outside Europe who need financial aid.
Who Can Apply for Student Loans in Norway?
- Norwegian citizens – full access to Lånekassen.
- EU/EEA students – eligible if studying full-time in Norway.
- International students (outside EU/EEA) – usually need private loans or sponsorship, unless meeting specific residency/work requirements.
Repayment Plans in 2025
- Grace Period: You don’t start repaying until after graduation.
- Income-Based Payments: Your repayment adjusts according to your income level.
- Loan Forgiveness: Up to 40% of your loan can be converted into a grant if you complete your degree and pass your exams.
Tips to Choose the Best Loan for Students in Norway
✅ Always check Lånekassen first before exploring private options.
✅ Compare interest rates and repayment terms across banks.
✅ Look for student credit cards with low interest for emergencies.
✅ Plan your monthly budget to borrow only what you need.
FAQs – Best Loan for Students in Norway 2025
Q1: Is education free in Norway for students in 2025?
A: Yes, public universities remain tuition-free, but living costs still require financial support.
Q2: Can international students get loans in Norway?
A: EU/EEA students often qualify for Lånekassen. Non-EU students may need private loans or scholarships.
Q3: What is the interest rate on student loans in Norway?
A: In 2025, Lånekassen loans have some of the lowest rates, averaging between 2–3% annually.
Q4: When do I start repaying my student loan?
A: Repayment typically begins after graduation, with a grace period of around 6–12 months.
Q5: Can my loan be converted into a grant?
A: Yes, if you complete your degree, up to 40% of the loan can be turned into a grant by Lånekassen.
Conclusion
Choosing the best loan for students in Norway in 2025 is about balancing affordability, flexibility, and long-term benefits. For most students, Lånekassen remains the top choice, offering government-backed loans with partial grants and income-based repayment. However, private banks and international providers also play an important role for those who don’t qualify.
By planning your budget carefully and selecting the right loan option, you can fully enjoy your education in Norway without the stress of financial instability.