Norway Student Loan Calculator

Calculate the monthly instalment, total interest and tax relief on a Lånekassen student loan, with the floating rate of 4.602% until 31 October 2026 and 4.707% from 1 November 2026. See the repayment plan, what extra payments save, and whether a fixed rate pays off.

Last updated 30 September 2026. Figures are for the 2026 tax year.

Student loan (outstanding debt)

See “Your debt” on your Dine sider page at Lånekassen (the State Educational Loan Fund).

NOK

Repayment period (years)

Normally 20 years (for loans above NOK 318,000)

years

Interest rate

Extra payment per month

On top of the regular instalment

NOK

Paper invoice (+NOK 18 per invoice)

Monthly instalment

NOK 1,978

240 instalments

Total interest

NOK 164,797

Rate 4.602%

Total to pay

NOK 474,797

No fees with e-invoice

Interest tax relief

NOK 36,255

22% of the interest

Interest in year 1

NOK 14,064

Relief about NOK 3,094

Effective interest rate

4.7%

Excluding fees

The floating rate is 4.602% until 31 October 2026 and 4.707% from 1 November 2026. The calculator uses the rate that applies today (4.602%). The rate changes every second month and the instalment is adjusted. The calculation uses the rate divided by 12 per month; Lånekassen calculates interest per day.

How long until I am debt-free?

Choose how much you want to pay each month (interest + principal).

Monthly payment

NOK

You are debt-free after 11 years and pay NOK 85,529 in interest in total.

Fixed or floating rate?

Interest during the fixed period on NOK 310,000 over 20 years, if the floating rate (4.602%) stays unchanged.

Fixed for	Fixed rate	Instalment	Interest, fixed	Interest, floating
3 years	5.233%	NOK 2,086	NOK 46,547	NOK 40,806Fixed costs NOK 5,741
5 years	5.099%	NOK 2,063	NOK 72,937	NOK 65,552Fixed costs NOK 7,385
10 years	4.946%	NOK 2,037	NOK 126,890	NOK 117,383Fixed costs NOK 9,507

Repayment plan year by year

Year	Paid	Interest	Principal	Tax relief	Balance
1	NOK 23,740	NOK 14,064	NOK 9,676	NOK 3,094	NOK 300,324
2	NOK 23,740	NOK 13,609	NOK 10,131	NOK 2,994	NOK 290,193
3	NOK 23,740	NOK 13,133	NOK 10,607	NOK 2,889	NOK 279,586
4	NOK 23,740	NOK 12,634	NOK 11,106	NOK 2,780	NOK 268,480
5	NOK 23,740	NOK 12,112	NOK 11,628	NOK 2,665	NOK 256,853
6	NOK 23,740	NOK 11,566	NOK 12,174	NOK 2,544	NOK 244,679
7	NOK 23,740	NOK 10,993	NOK 12,746	NOK 2,419	NOK 231,932
8	NOK 23,740	NOK 10,394	NOK 13,346	NOK 2,287	NOK 218,587
9	NOK 23,740	NOK 9,767	NOK 13,973	NOK 2,149	NOK 204,614
10	NOK 23,740	NOK 9,110	NOK 14,630	NOK 2,004	NOK 189,984
11	NOK 23,740	NOK 8,423	NOK 15,317	NOK 1,853	NOK 174,667
12	NOK 23,740	NOK 7,703	NOK 16,037	NOK 1,695	NOK 158,630
13	NOK 23,740	NOK 6,949	NOK 16,791	NOK 1,529	NOK 141,839
14	NOK 23,740	NOK 6,160	NOK 17,580	NOK 1,355	NOK 124,259
15	NOK 23,740	NOK 5,333	NOK 18,406	NOK 1,173	NOK 105,852
16	NOK 23,740	NOK 4,468	NOK 19,272	NOK 983	NOK 86,581
17	NOK 23,740	NOK 3,562	NOK 20,177	NOK 784	NOK 66,403
18	NOK 23,740	NOK 2,614	NOK 21,126	NOK 575	NOK 45,277
19	NOK 23,740	NOK 1,621	NOK 22,119	NOK 357	NOK 23,159
20	NOK 23,740	NOK 581	NOK 23,159	NOK 128	NOK 0

Estimate only: results are indicative and are not tax, legal or financial advice. Your actual tax and payments are set by the Norwegian authorities (the Tax Administration, NAV, Customs, the Land Registry) and depend on your personal situation. Check with them or a qualified adviser before you rely on a figure.

How it works

A student loan from Lånekassen (the Norwegian State Educational Loan Fund) is an annuity loan: you pay roughly the same amount every month, made up of interest and principal. At the start most of it is interest, towards the end mostly principal. This calculator works out the monthly instalment, total interest, tax relief on the interest and a year-by-year repayment plan. You can also see what extra payments do, how long it takes to become debt-free at a chosen monthly amount, and compare fixed and floating rates. It covers repayment only, not whether you qualify for support or how much you can borrow. See the Lånekassen pages linked below for that.

How student loan repayment works

The loan is interest-free while you receive a loan or grant for full-time education. Interest is added from the day after the support stops. You get a repayment plan after about five months and the first bill after about seven months. The period until the first bill is payment-free, but interest keeps building up. After that you pay every month.

The longest ordinary repayment period is 20 years. If your debt is above NOK 318,000, the instalment is based on 20 years, and with a smaller debt the term can be shorter. The loan must be repaid before you turn 70. Anyone can postpone a bill up to 36 times without giving a reason, which extends the repayment period accordingly, up to 30 years in total. A paper invoice costs NOK 18 each, while e-invoice and direct debit are free.

Worked example: NOK 310,000 of student debt

Lånekassen gives roughly NOK 310,000 as typical debt after three years of basic loan when 40% has been converted to a grant (see below). With the floating rate of 4.602% (until 31 October 2026) and 20 years of repayment:

Monthly instalment: NOK 1,978 (240 instalments)
Total interest: NOK 164,797, so NOK 474,797 is paid in total
Tax relief on interest: about NOK 36,255 over the whole period, so the net interest cost is about NOK 128,542
With NOK 1,000 extra a month the loan is paid off after 11 years and 2 months, saving about NOK 78,400 in interest
If you pay NOK 3,000 a month you are debt-free after 11 years

Note that Lånekassen lowers your instalment after an extra payment and keeps the repayment period. To finish sooner, keep paying the same total amount or shorten the repayment period on Dine sider.

Monthly instalment at different debt levels

Debt	Floating (4.6%)	Fixed 3 yrs (5.23%)	Fixed 10 yrs (4.95%)
NOK 150,000	NOK 957	NOK 1,009	NOK 985
NOK 250,000	NOK 1,595	NOK 1,682	NOK 1,642
NOK 310,000	NOK 1,978	NOK 2,086	NOK 2,037
NOK 500,000	NOK 3,191	NOK 3,364	NOK 3,285
NOK 750,000	NOK 4,786	NOK 5,047	NOK 4,927

20 years of repayment, no fees. The fixed rates are the latest offer, valid from 1 September 2026.

Fixed or floating rate

Everyone starts repaying with a floating rate, and it is the same for everybody. It is set every second month from the average of the five lowest mortgage rates in the market minus 0.15 percentage points, and is 4.602% until 31 October 2026 and 4.707% from 1 November 2026. Six times a year you can apply to fix the rate for 3, 5 or 10 years. The latest offer was 5.233% (3 years), 5.099% (5 years) and 4.946% (10 years). A fixed rate gives predictability, but you often pay a little more when it is higher than the floating rate.

Tax relief and converting to a grant

Interest on a student loan is deducted from your ordinary income, and your tax falls by 22% of the interest. Up to 40% of the basic loan can be converted to a grant if you live away from your parents, pass your studies and your income and assets are under the limits. In 2026 the income limit is NOK 234,821 if you receive support for the whole year. Since the 2025-2026 study year, you must complete a degree to have the last 25 percentage points converted: without a degree the maximum is 15%. The conversion happens the year after, so enter your debt after conversion in the calculator.

Tips

Choose e-invoice or direct debit to avoid the NOK 18 paper invoice fee.
Pay off more expensive debt first: consumer loans and credit card debt usually cost far more than a student loan.
Apply for a payment deferral before the due date if you cannot pay. If you are unemployed, sick or on a low income, you may also be entitled to have interest cancelled.
If you plan to buy a home, your student loan counts in your total debt. See how much you can borrow for a mortgage in Norway.

Sources: Lånekassen (English): interest rates and fees, Lånekassen (English): when you will start to make loan repayments, Lånekassen (English): residents abroad, Lånekassen (English): redeem your loan or pay more quickly, Lånekassen (English): converting basic support to a grant, Regulation on repayment of education loans (Lovdata, in Norwegian), Tax Administration (English): bank and loans

Frequently asked questions

What is the interest rate on a Norwegian student loan in 2026?

The floating rate at Lånekassen is 4.602% until 31 October 2026 and 4.707% from 1 November 2026. The latest fixed-rate offer, valid from 1 September 2026, is 5.233% for 3 years, 5.099% for 5 years and 4.946% for 10 years. The floating rate is set every second month, based on the average of the five lowest mortgage rates in the market minus 0.15 percentage points.

How much will I pay per month on my student loan?

It depends on the debt, the rate and the repayment period. With NOK 310,000 of debt, a floating rate of 4.602% (until 31 October 2026) and 20 years of repayment, the instalment is about NOK 1,978 a month. For loans above NOK 318,000 the instalment is calculated over 20 years. You pay every month, and the instalment is adjusted when the rate changes.

When do I have to start repaying?

The loan is interest-free as long as you receive a loan and grant for full-time education. Interest is added from the day after your support stops, whether you have finished your studies or not. You get a repayment plan about five months after your last support period and the first bill about seven months after. The period before the first bill is payment-free, but not interest-free.

I have left Norway. Do I still have to repay?

Yes. Lånekassen says the same rules apply whether you live in Norway or abroad: repayments start when your support stops and you pay every month. Paying from an account with a Norwegian bank is the easiest and cheapest way, and a Norwegian bank may let you open an account if you have a Norwegian personal identity number, even if you now live abroad. If you apply for interest exemption or debt cancellation from abroad, you need to submit extra documentation.

Is it worth repaying my student loan faster?

With a floating rate you can pay extra without a fee. An extra NOK 1,000 a month on a loan of NOK 310,000 saves about NOK 78,400 in interest. But pay off more expensive debt such as consumer loans and credit cards first, and remember that if you pay off the whole loan you lose protections such as repayment deferral, interest cancellation and debt cancellation if you become disabled.

Should I choose a fixed or floating rate?

A fixed rate gives a predictable instalment for 3, 5 or 10 years. On NOK 310,000, a 3-year fixed rate (5.233%) costs about NOK 5,741 more interest during the fixed period than the floating rate (4.602%), if the floating rate stays unchanged. With a fixed rate you cannot change the repayment period, and extra payments cause a loss or gain on the interest rate.

Can I deduct the interest on my student loan from tax?

Yes, student loan interest is deductible like other debt interest, and the deduction lowers your tax by 22% of the interest. If you pay NOK 14,064 in interest in the first year, your tax is about NOK 3,094 lower. Lånekassen reports the interest and it is pre-filled in your tax return. This applies if you are taxed in Norway.

Related calculators

→How Much Can I Borrow for a Mortgage in Norway?→Norway Mortgage Calculator →Norway Income Tax Calculator 2026

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