Why have I received a repayment plan?
Why you have received a repayment plan
We are sending you a repayment plan because you either have finished your education, or no longer receive loans or grants for a full-time education.
The repayment plan includes information about when you will start repaying your loan, how much you need to pay each month and when the repayment is completed.
You may start repaying your student loan immediately after you have completed your education, if you wish. You do not have to wait for the repayment plan.
Conversion of loans to grants
Your loan may be reduced after you have received the repayment plan, if you are eligible for having a portion of your loan converted to a grant. The reason why we do not convert the loan immediately after you have passed your exams, is that your income and assets decide the size of your grant.
Before the loan can be converted, Lånekassen needs to receive information about your income from the tax authorities. We receive this the following year. This means that you have to wait until summer 2021 to have loans coverted for exams you completed in 2020.
You must begin your repayment regardless, but interests added to the amount of loans which are coverted later, will be deleted automatically.
If you are unable to pay
If you are having trouble paying your bill, you may apply for a repayment deferral up to 36 times (three years). There are no specific conditions that you need to comply with in order to defer payment.
Interest will be added to your debt
When you have completed your education, or are studying without receiving loans or grants from Lånekassen, interest will be added to your debt. If you are studying part-time or without loans or grants from us, you may apply for deletion of the interest added to your debt while studying.
If you only applied for a grant
Even if you only applied for a grant, the financial support is disbursed as a loan. This loan can be converted into a grant the year after you received support. This means that you have a loan in Lånekassen until it is converted into a grant, and therefore you have received a payment plan.