Qualified applicants studying abroad outside the Nordic region can also receive loan and grant support from Lånekassen.
Loan and grant funding levels by Lånekassen are calculated using multiple variables including (but not limited to) tuition costs, income status, and whether or not the applicant is living with parents or other hosts rent-free.
Repayments on Norwegian student loans - either in the form of interest or principal - do not begin until graduation or interruption of studies.
Repayment is structured in the form of amortization, with interest and principal combined into a fixed monthly payment (like an annuity).
There are certain applicable exemptions for payment of interest, including (but not limited to) military service such as a student attending a military academy, civil service, care work, and welfare and poverty-based exemptions.