NO Lånekassen Student Loan Repayment 2027 Calculator

Lånekassen (Statens lånekasse for utdanning) is Norway's state agency for student loans and grants. Standard terms: floating interest of 4.611% since 1 May 2026, 10-year repayment, optional 20-year term, 22% tax deduction on interest paid.

How Lånekassen Loans Work

Norwegian students receive a combined loan + grant package while studying. After graduation: 40% of the loan can convert to grant if you pass exams + don't earn too much during studies. Remaining balance starts repayment 7 months after final exam. Default: 10-year nominal term.

Interest and Tax Treatment

The student loan rate is not tied to NIBOR or to government bond yields. Lånekassen sets it from the average of the five best mortgage rates on the market, minus a 0.15 percentage point deduction — the same method for both fixed and floating rates (Lånekassen: Renter og gebyrer). The floating rate fell to 4.698% on 1 January 2026 and to 4.611% on 1 May 2026. Interest is deductible at 22%, so the effective cost of a 4.611% loan is about 3.6% — enter the rate that appears on your own Lånekassen statement above, since a fixed-rate agreement locks a different number.

Income-Based Deferment

If your annual income falls below the threshold (typically ~390,000 NOK for 2024-25), you can apply for full or partial deferment. Interest still accrues. Useful for parental leave, unemployment, low-income periods. Apply via lanekassen.no.

Repayment Strategy

If you have surplus cashflow: pay extra principal — saves interest. If you have inflation-protected investments: keep loan rolling, invest in funds (5-7% expected vs an effective ~3.6% loan after the 22% deduction). Many young Norwegians prioritize property over loan payoff (real estate + mortgage interest deduction).

Limits on Deferring Payment

Deferment (betalingsutsettelse) is not free and it is not unlimited. Postponing an instalment extends your repayment period, so you pay more total interest than if you had not deferred. Two hard ceilings apply: the repayment period cannot be extended beyond 30 years, and the loan must be repaid before you turn 70. If low income is the reason, the separate interest-relief scheme (sletting av renter) is assessed on your annual income, and the income limit is raised by NOK 19,458 for each child aged 16 or younger — worth checking before you default to a plain deferment, because relief cancels interest while deferment only postpones it.

Last updated 4 September 2026. Sources: Lånekassen, Skatteetaten Tax Norway.