Student loans in Sweden are administered by the Swedish National Board of Student Aid, a Swedish government agency. Students living with their parents often only take the student grant, while other students tend to take both the student grant and the student loan. A full-time student gets SEK 2,492 (about $370) a month in student grant money, and can borrow up to SEK 4,764 (about $700) a month, which equals a total of SEK 7,259 (about $1,070). During the summer months, the student gets no grants or loans unless taking a summer course. Thus a full-time student gets SEK 24,920 (about $3,700) a year in student grants, and can borrow up to SEK 47,640 (about $7,000) a year, which gives a total of SEK 72,590 (about $10,700). The loans and grants are normally approved for a maximum of twelve semesters, or 240 weeks.
No income tax is paid on student grants and student loans. However, the grant and loan is reduced if a certain limit of additional incomes is crossed. As of autumn 2009, the upper limit of additional incomes for a student with a full-time loan and grant was SEK 45,000 (about $ 6,400).
In Sweden, university studies are free of charge.
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