Study Loans For Students In Germany
When the laws concerning the university fees were reconstructed by the Constitutional Court of Germany in 2005, diverse loan possibilities have been shaped. Until those days multiple German banks had already invented ideas for academic loans (German: Studentenkredite). Today there are different loans available from both public and private banks and also the KfW.
The "dbStudentenKredit" offered by the Deutsche Bank can be granted to all students at German universities, not considering their particular study area. But the age is limited to 30 years. A further condition for the grant of a "dbStudentenKredit" the credit is the complete study preparation and plan. All topics that a student intends to study should be included in this and furthermore career plans should be summed up. Moreover, the bank requests information regarding the creditworthiness of the students from the Schufa book that contains the financial details of German citizens. Those information supply the credit institutes with a some security.
In the beginning of the studies one can get up to 200 Euros a month for living costs and university fees. Later on the amount of money one can get every month increases to 800 Euros. The rate of interest differs from time to time. Throughout the first year after finishing the studies no money needs to be paid back. Altogether students have 12 years of time to reimburse the total amount of money the student loan (Studentenkredite) provided. Of course students also have the option to pay pack everything right now.
The Kreditanstalt fuer Wiederaufbau (Credit Institute for Reconstruction), was founded after the 2nd World War with the aim to support the rebuilding of the German country. Since April 2006, the KfW development bank also offers a study loan for all students during their first degree.
The KfW Student Loan (Studentenkredite) does not call for many background information, but it is not approved in the case of a private bankruptcy. Furthermore it is free for all German students (also EU foreigners) and for all state-recognized universities. The only conditions are that the applicant has not yet ended his studies and not yet reached an age of 31.
The "dbStudentenKredit" offered by the Deutsche Bank can be granted to all students at German universities, not considering their particular study area. But the age is limited to 30 years. A further condition for the grant of a "dbStudentenKredit" the credit is the complete study preparation and plan. All topics that a student intends to study should be included in this and furthermore career plans should be summed up. Moreover, the bank requests information regarding the creditworthiness of the students from the Schufa book that contains the financial details of German citizens. Those information supply the credit institutes with a some security.
In the beginning of the studies one can get up to 200 Euros a month for living costs and university fees. Later on the amount of money one can get every month increases to 800 Euros. The rate of interest differs from time to time. Throughout the first year after finishing the studies no money needs to be paid back. Altogether students have 12 years of time to reimburse the total amount of money the student loan (Studentenkredite) provided. Of course students also have the option to pay pack everything right now.
The Kreditanstalt fuer Wiederaufbau (Credit Institute for Reconstruction), was founded after the 2nd World War with the aim to support the rebuilding of the German country. Since April 2006, the KfW development bank also offers a study loan for all students during their first degree.
The KfW Student Loan (Studentenkredite) does not call for many background information, but it is not approved in the case of a private bankruptcy. Furthermore it is free for all German students (also EU foreigners) and for all state-recognized universities. The only conditions are that the applicant has not yet ended his studies and not yet reached an age of 31.
About the Author:
Find out more about the student loan (German: Studentenkredit)situation in Germany and go to my blog about Studentenkredit. Various possibilities of student funding in Germany discussed further.
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