Cover school fees with loans

Private schools often cost a lot of money and there are few who have such saved funds to spare. Then you should take out a loan to cover these costs. The Loan Fund provides loans that can cover school fees, but they obviously have an upper limit for this as well.

Keep in mind that if you are considering attending a private high school

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You do not have the right to support the Loan Fund. Then you have to take out a loan or use your own money if you have. When you go to high school, the Loan Fund can give you as much as NOK 27,400 in loans per school year.

They can also lend you money to cover school fees up to NOK 23,680 per school year. This amounts to a total loan of NOK 51,080 in loans for every year you attend private high school. If you live away, you will also receive a away drill scholarship along with an equipment grant.

Upon further education at a university or college in Norway, you are entitled to more loans from the Loan Fund. Normally, you will receive loans of DKK 92,500 per academic year. If you have to pay school fees at the place of study, you can borrow as much as NOK 56,740 for this purpose. If it costs more, you have to take out a regular loan from a bank or borrow from family / friends.

If you plan to study abroad, you should be aware that most schools abroad cost more than those in Norway. This usually goes well, as the Loan Fund can provide extra loans to cover these tuition fees. You can borrow as much as 116 116 NOK a year if you choose to study abroad. Once you have passed all the exams, some of this can be turned into scholarships that you do not have to repay, but the majority of these are loans that must be repaid.

If you need more loans to pay school fees

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You must apply for a loan from a regular bank. It is no secret that it can be difficult to get a loan when you have no fixed income, which is often the case when you are a student. But it is absolutely impossible. We advise you to meet in person at the bank to talk to them about this.

Then you have the chance to talk face-to-face with a case manager and explain to them your situation, and the chance of you getting a loan is then greater. You can also try applying for a loan on the internet, but since you do not have a fixed income, you will most likely get a rebate.

Remember that all loans must be repaid at some point

Remember that all loans must be repaid at some point

The advantage of loans from the Loan Fund is that it “freezes” until you are educated. This is not the case with other types of loans. These must be repaid with interest and the repayment starts already the month after you take out the loan. If you are confident that you can manage a loan and that you have income from it, then it should be no problem.

When it comes to private school versus public school, you should also think carefully. A public school here at home in Norway can be at least as good as a private school.

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