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27th October 2022

Student loan: your checklist and other important information!

Wherever you decide to study, you are automatically entitled to a student grant as well as a student loan! If you are wondering what the next steps are and how exactly the interest work, this article is for you.

To do

First things first:

  • choose a university and enrol
  • find yourself a place to live (apartment, host family, flat-share or on campus)
  • make a bank guarantee for your apartment
  • establish a monthly budget: how much do you need to cover uni, rent and personal expenses?

Once you have chosen a university, registered and received confirmation of your registration, you can apply for a scholarship through the Financial Aid Department:

Since the academic year 2021-2022, your application is made entirely online via MyGuichet.lu, even if you do not have a LuxTrust product or an electronic identity card (eID).

Watch out: the deadlines are 30 November for the winter semester and 30 April for the summer semester!

Have you received your scholarship approval from the Financial Aid Department? Great, with this document (yellow letter) you can apply for your student loan at Spuerkeess.

The student loan and the Spuerkeess advantages

The state-guaranteed student loan amounts to 6.500 euros (3.250 euros per semester). As the interest rate often changes, the Luxembourg government guarantees  a maximum interest rate of 2%. Meaning, for example, even if the  interest rate would go up to 3%, the government will take care of the difference!

Interest is calculated based on the total loan amount and is due every semester. You only need to begin repaying your student loan two years after completing your studies, but you can also do it earlier if you want. You have a total of ten years to repay the full amount.

Waiting to receive your student grant? If this is the case and you have applied for a student loan, you may also be able to get an advance payment of 2.500 euros from Spuerkeess. This amount is interest free, which means you will ultimately repay exactly the same amount and not a penny more.

Contact request for a student loan

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