Adult education allowance is an excellent way for an entrepreneur to develop one's own professional skills and entrepreneurship. It enables both full degrees and short trainings. Learn about your possibilities!
Adult education allowance makes it easier to plan your finances when you need to reduce or temporarily cease your business activities in order to start studying. The application process is easy, so the allowance can be a quick solution for when your life changes.
The allowance is ideal for entrepreneurs who find it difficult to take a long break from work or to hire a replacement for the duration of their studies. Most of the people who receive the allowance are sole traders. Many decide to continue doing business part-time alongside their studies.
Adult education allowance can be paid for up to 15 months. It can be granted to full-time entrepreneurs who have had an YEL or MYEL insurance for at least one year and at least eight years of work history, either as an employee or entrepreneur in any field. The allowance can be granted for studies organised by educational institutions that operate in Finland and are supervised by public authorities, such as universities, universities of applied sciences and vocational schools.
An increasing number of the studies eligible for adult education allowance can be flexibly adapted to fit your everyday life. The terms of the allowance do not require you to cease your business activities completely: what you need to do is to reduce your earned business income by one third compared to the last taxation completed before the studies. You can also earn a certain amount of other additional income without it affecting your allowance. If you think that your earnings will exceed the limit, you can always cancel the payment of your allowance.
Read the criteria for the entrepreneur’s adult education allowance on page This is how to make sure you receive adult education allowance.
For more information on how much adult education allowance you can receive, see Amount and duration of the allowance.
Adult education allowance has helped entrepreneurs find solutions to even the most unexpected situations. You can apply for the allowance easily online. After you have been accepted into an educational institution, it will not take very long to receive the allowance.
The allowance enables entrepreneurs to update their own skills and develop their businesses further. This will help in securing the company’s long-term competitiveness.
“Even if the profession was not regulated, many entrepreneurs who have received adult education allowance say that their customers see formal education and qualifications as signs of competence and quality,” says Isa Väätäinen, Team Manager of the Employment Fund’s Benefit Services.
Time to apply? For application instructions, see page This is how to apply for adult education allowance.
Does your company have employees on its payroll? Adult education allowance is also available to employees who want to keep their skills up to date. When study leave is funded by the allowance, there will be no costs to the employer. Learn about the possibilities!