Student Loan for Studying in Sweden

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Student Loan for Studying in Sweden

Known as the land of the midnight sun, Sweden is preferred globally for its higher education and especially in the field of science and technology. With over 24,000 international students at Sweden’s reputed universities, the global exposure and networking opportunities are tremendous. To ease the cost of education in one of the finest European countries, students have access to a wide range of student loans in Sweden. Let’s find out the cost of studying in Sweden, different student loans as well as scholarships that can help you pursue your Nordic education. 

Tuition Fees and Costs 

International students, who do not belong to EU/EEA/Nordic countries or Switzerland are required to pay an application and tuition fees for pursuing higher education. The application fee amounts to SEK (Swedish Krona) 900 (INR 7,743.74), whereas the Tuition fee depends upon the type of program the candidate is pursuing. Though the average fee for a master’s program is approximately SEK 1,29,000/year (INR 11,09,936.92) while Bachelor’s program costs less. Students would also require an average monthly student budget of about SEK 8,000 (INR 68,849.07) per month as living expenses. 

Find out the Cost of Studying in Sweden!

Student Loan for Sweden

Types of lenders candidates can approach Public Sector Banks, Private Banks, and Private lenders, also known as Non-Banking Financial Companies (NBFCs). Students can apply for 2 types of educational loans, according to their needs and requirements in Sweden: 

  1. Secured Education Loan 
  2. Unsecured Education Loan 

Secured Education Loans are loans where the collateral is pledged, which can either belong to the borrower or a third party. The lenders find it easy to give out loans of high volume and lower interest rates with collateral.

Unsecured Educational Loans are loans where there is no collateral needed. The basic requirement of an unsecured education loan is an earning co-applicant with a good CIBIL score.

Must Read: Secured vs Unsecured Education Loan

Student Loan for Sweden: Eligibility Criteria

Granting of Student loans in Sweden is affected by a number of factors. Some common factors that are considered by money lending sectors (banks) include: 

  • Must secure admission into job-oriented or technical graduation degree course/post-graduation degree course/diploma course like MCA, MBA, MS offered by a reputed university 
  • The applicant must be 18 years and above to apply for an educational loan. Students below 18 are required to apply for the loan co-jointly with their parents
  • The candidate must be an Indian citizen. 

Student loan in Sweden is not the only way to fund one’s education. Scholarships are a major source of Swedish funding: 

  • The Swedish Institute – It is a governmental agency, which acts as a form of public funding. It provides a limited number of scholarships for international students through a series of specially designed programs. 
  • The Swedish Institute with specific universities – They provide funding that is awarded on a competitive basis. Also, Sweden provides other sources of funding which are less pre-dominant, private sources, via foundations and fundraising organizations. 
  • Swedish Universities – Universities in Sweden also offer a significant source of scholarships in tuition waivers for students. The amount and frequency of such scholarships depend on each university, the Swedish Institute being the main contributor. Approximately 120 scholarships are provided yearly. 
  • The Erasmus Mundus Scholarship – Is available to students attending universities in Sweden. This scholarship lightens the burdens of living costs, tuition fees, insurance, and travel for those who receive the Erasmus Mundus Scholarship

Part-Time Work Options 

There are other ways to fund your education rather than a student loan in Sweden. Students alongside their studies, spend several hours working. However, students keep their education as a priority, they are expected to spend the equivalent of a 40-hour workweek reading and working on assignments. Students also have the option of extending their residence permit by six months to search for a job or start a company and apply for a work permit thereafter. Sweden is home to many top employers like IKEA, Volvo, Ericsson, and H&M. Sweden is a perfect career launcher for students. 

Swedish Board of Student Finance (CSN)

The Swedish Board of Student Finance (CSN) is a government organisation under the Sweden government that manages all student finance in the country. It provides grants and student loans in Sweden to select international students. International students can apply for financial aid with CSN and then up to SEK 15,000 (INR 1,29,130.05) based on the duration of the course, income as well as the rate of your study (full-time or part-time). The interest rate is 0.5% and all students must pay back the loan. Here are some requirements that students are required to meet. It is meant for select international students and for students with permanent residency in Sweden.

Top Universities in Sweden

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Loan and Repayment Options

The maximum loan amount available to students going to Sweden for higher study is Rs. 20 Lacs. Higher loan amounts, however, are taken into account on a case-by-case basis while studying abroad. International students will be able to work part-time, as was previously suggested, to lower their living and tuition expenses overseas. There is no formal cap on the number of hours that international students may work in addition to their studies. The expectation is that students will study and work on projects for the equivalent of a 40-hour work week in order to maintain their focus on their studies. Also, students will have the choice to return for an additional six months to hunt for employment in their field of study.

Students who have sought an education loan from a nationalised bank must begin payments when the course period and moratorium period have ended (Repayment commences one year after the course completion or 6 months after securing a job, whichever is earlier). Nonetheless, students should be aware that the moratorium period varies depending on the loan provider.


Q1. Does Sweden have student loans?

Ans. Student loans and grants are designed for those who are enrolled in institutions like universities, colleges, or technical schools. If you are over 20, you can also apply for student grants and loans at Komvux (adult education college) or folk high school for courses at the required and upper secondary level.

Q2. Can international students get loans in Sweden?

Ans. International student loans from Sweden provide funding up to your school’s estimated total education costs, less any additional aid you may have received. Tuition, board, and living costs make up the total cost of schooling.

Q3. How do student loans work in Sweden?

Ans. A Swedish student will normally receive 9024 KR per month for ten months. The recipient’s parents’ taxes or family allowances are unaffected by this loan. Supplementary loans are offered to students who are above 25.

This was all about a student loan for Sweden. Wish to apply? If you need any help with the application process for Sweden universities, get in touch with our Leverage Edu experts right away! 

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