State financial aid: what is it?

It is a financial contribution that the Luxembourg State gives to students who take higher or university education (amended law of 22 June 2000).

The financial aid can consist of two parts:

• The grant paid by the State into the student's personal account
• The loan at an interest rate of only 2% that the student can take out with one of the banks who have signed an agreement with the State (see below)

Repayment conditions: the student must start repayment two years after his/her studies have finished or stopped. From then onwards, the loan must be repaid within 10 years or 5 years for students who are over 35 years old.

Attention: The 2% interest payable by the student is normally debited twice per year by the bank.