Study loan

• The loan must be repaid within 10 years as from the day of starting repayment of the loan if the loan amount does not exceed 20,000 EUR on the first day of repayment of the loan. If the loan amount is more than EUR 20,000 upon starting repayment of the loan, then the loan is repayable within 15 years as from commencement of loan repayment.
• Repayment of the loan is due from the 12th month after the completion of studies or from the 3rd month after discontinuation of studies.
• Payment of interest on the loan is due from the 12th month after the completion of studies or from the next month after discontinuation of studies.
• Payment of interest on the student loan is due from the next month after receiving the first portion of the loan amount.
• Monthly payments for the loan are debited automatically from the specified Swedbank account.

• Loan disbursement stops during break from studies.
• Loan disbursement is resumed after break from studies if the borrower continues the studies and the break does not exceed 731 calendar day and the borrower's application to resume loan disbursement is received.
• If the break from studies exceeds 731 calendar day but the student has not been deregistered ("exmatriculated") without a diploma, the borrower will have to start paying interest on the study loan and start repaying the principal amount of the study loan and student loan from the next calendar month after the 732nd day arrives.

After enrolling at a higher education institution, fill out an application via Internet Banking or book a visit to a branch office.

1. After receiving your application, we will verify the information provided by the school on the State Education Information System. The time necessary to obtain this information depends on the information updates provided by the school and this can take up to 10 days.
2. After receiving the loan application, we will evaluate your credit history and solvency.
3. We will notify our decision over the phone and will arrange the next steps.
4. The agreement can be signed via Internet Banking or at branch. New lending transactions may be concluded via Internet Banking between 7 AM and 10 PM. Automated aggregation and registration of data on transactions concluded during the day takes place after 10 PM and, pursuant to the Consumer Rights Protection Law, it is prohibited to enter into consumer lending contracts during night time until 7 AM.
5. We will transfer money to the educational establishment after signing the study loan agreement.

Now you can focus all your attention on studies!

• Sign a contract with your school and obtain a reference regarding your enrolment

If you're not a Swedbank customer yet, you can become our customer already in advance so as to speed up the agreement conclusion process.

Before signing your contract with the higher education institution, carefully read the terms and conditions of the study contract to avoid incurring unexpected expenses in case we're unable to grant you the loan.

• The interest rate is 3.5% per annum + 6-month Euribor but not less than 0%
  • Interest rates archive
  • Euribor rates
• According to the Cabinet Regulations, if the interest rate on the loan is higher than 5% per annum during the period in which the borrower themselves pays the interest on the study loan or student loan, then the borrower shall pay 5% per annum. The difference between the rates is covered out of the state budget. For borrowers who are removed from the list of students (exmatriculated) without a diploma, the difference in interest rates, in case of exceeding 5%, will not be covered out of the state budget.
• No loan document processing fee
• You are free to choose the repayment date from 1st to 28th date of the month

• You are at least 18 years of age.
• You have good credit history - if you have experience with loan commitments and the existing payments (incl. loan payments) are made without delays.
• You may not have any commitments or indebtedness which, in the opinion of the credit institution, could make it difficult for you as a student to assume obligations or repay the loan.
• According to the Cabinet Regulations, information about studies is checked in the State Education Information System (VIIS).

The loan is available to citizens and non-citizens of Latvia, as well as EU/EEA citizens and permanent inhabitants of the European Community holding a valid residence permit for studying in study programmes of accredited and licenced higher education institutions of Latvia - for bachelor, master, doctor degree and first level professional higher education programme students.

If the borrower gets the status of an unemployed person, the principal repayments on both the study loan and the student loan are deferred for the time of unemployment but not more than 12 months.

If the borrower consecutively continues studying in an accredited programme, deferral of repayment of the study loan principal is continued (provided that the break between studies does not exceed 11 months).

All in all, the repayment commencement period for all study loans may not exceed 10 years from the moment of concluding the first agreement for a study loan guaranteed by ALTUM guarantee.

If a child is born (including adoption of a child) to the borrower during studies or after graduation from higher education institution, the state will repay 30% of the outstanding balance of the borrower's student loan as of the date of submitting the borrower's loan discharge application for each child after the borrower has completed the studies. If both parents are borrowers, the condition applies to both parents.