Work out the monthly payment and total cost of your student loan from Lånekassen (Norway's State Educational Loan Fund), based on loan amount, interest rate and repayment period.
The calculator uses the annuity formula, the same principle as for ordinary loans — you pay a fixed amount each month, where the split between interest and principal changes over time:
Student loans from Lånekassen are interest-free for as long as you're in education. Repayment with interest only begins after you've completed or left your education, normally starting six months after. This calculator shows the cost in the actual repayment phase.
Yes. Student loans from Lånekassen are interest-free throughout your education. Interest calculation and repayment only start after you've completed or left your education, normally from six months after.
Lånekassen has a floating interest rate that's normally adjusted up to five times a year, based on market interest levels. This differs from banks' consumer loans, where the rate is often set individually by each bank.
Yes. Lånekassen doesn't charge a fee for extra repayment or early repayment of the student loan, unlike some other loan types.