Student loans are given to students by commercial banks, but they are co-financed by the means coming from Poland’s budget. They were introduced in 1998 and as a tool to provide financial aid to students in Poland by loaning money on a low percentage.

The repayment starts two years after a student’s graduation or the planned date of graduation (depending on which takes place first). The number of payback instalments is twice as high as the number of loan instalments given to the student. If a graduate finds themselves in difficult life circumstances, they may ask for a 12-month suspension of repayment.

In 2018, students may apply for a loan between 15 July and 20 October to one of the following banks:

• PKO Bank Polski S.A.,
• Bank PEKAO S.A.,
• Bank Polskiej Spółdzielczości S.A. (and other associated banks),
• SGB-Bank S.A. (and other associated banks).

How much can students ask for? The loan is provided in monthly instalments and can be PLN 600 (regular), 800 or 400. Students can receive them throughout the duration of their studies (maximum 6 years or 4 years for PhD students), for 10 months of the academic year.

The main condition for getting the loan is holding a valid student ID (each semester it needs to be presented to the bank). The second condition is that the income for each family member should not exceed PLN 2,500. You will need a relevant confirmation of the income to go along with your application. Holding a Polish passport is not a requirement; however, as a foreigner, you need to either have a permanent residence permit or a refugee status. You can also receive the loan if you are under temporary protection or a migrant worker from the EU/EFTA (or family member of one), the EU/EFTA member states citizens, long-term EU resident. You can always consult the bank or your university to confirm if you are entitled to receiving the loan.

Have you ever tried this form of financial support or do you dread debt?