A short history of Finnish financial aid for students
1972 The current form of financial aid for students was introduced – initially mainly composed of study grants and student loans.
1977–1987 New elements are added to the financial aid for students system: housing supplements, meal subsidies, interest rate subsidies and adult study grants.
1994 Major reform in the system of financial aid for students; the focus shifts more towards study grants than previously.
1997 School transport subsidies for students in upper secondary schools and vocational training are adopted.
1998 An annual income model is adopted, making it easier to balance financial aid for students and earned income.
2001 Adult education allowance.
2002–2013 Increases to various elements of aid: the magnitude of state guarantees, study grants and housing supplements and to the income thresholds of the student and those of the parents and to the size of the meal subsidies.
2005 Tax-based student loan deduction introduced; an incentive for graduation with the normative period.
2011 The criteria for granting school transport subsidies are revised.
2014 Student loan compensation replaces student loan deduction; amendments to make loans practicable enter into force.
2017 The ratio of loans to overall student financial aid is increased in higher education, and students become eligible for general housing allowance.