Tip of the Week: Did you earn too much? This is how you can return study grants.
Sometimes you do too much work, or maybe you’re not getting enough academic credits. Maybe you just want to save used aid months. When you cancel or return: the number of months you have consumed decreases, your annual income limit is raised and the month of aid you cancelled is restored to you. Whatever your reason for cancelling or returning, here’s some tips on how to do it!
When making a return, remember that you can’t cancel the repayment! You’ll have to fill out a new application.
The return is paid in the net amount, i.e. the amount you’ve received on your account. Kela will notify the tax administration about your repayment, so you won’t need to worry about tax issues.
If your’re going to go over your annual income limit, remember to return the financial aid by the end of May the next year! So, if you’ve earned over your income limit last year, you’ll have to make the return soon. Likewise, if you want to decrease the number of months taken into account when checking your study progress in the autumn or wish to set aside months of financial aid, you’ll have to return it by the end of May the next year.
When decreasing the number of months taken into account when checking your study progress for the spring, you’ll need to return the financial aid by the end of August that year.
You can read up on more details about cancelling or paying back financial aid on Kela’s website.