Norway has recently announced a groundbreaking initiative that will forgive student loan debts for employed graduates who choose to work in rural areas. This generous scheme can erase up to NKr25,000 (₹1,92,120.50) annually, potentially rising to NKr60,000 (₹4,61,434.80) annually for those moving to the far north (Finnmark and Nord-Troms). The scheme is not just about debt relief; it also aims to support the rural workforce by targeting professionals in high-demand fields such as teaching Sami or Kven, natural sciences, and foreign languages.
Oddmund Hoel, the higher education minister, believes this action will renew rural areas and ensure a strong workforce nationwide.
If you’re considering studying in Norway and are worried about student loan repayments, here’s some good news. Norway’s student loan forgiveness scheme could significantly reduce your financial burden. With this initiative, repaying your student loan may not be as stressful as you think.