Student loan

Financial assistance for your university studies

Aim of the student loan

The student loan programme has been launched by the federal government and it aims to financially support students, who have reached the advanced stage of their studies, with a low-interest
loan.

The student loan programme is completely separate from the funding provided by the Federal Training Assistance Act (BAföG). It is therefore possible to receive support from both at the same time. However, there is no legal right to a student loan, unlike the BAföG system.

The income or assets of the student of his or her parents do not play a role with the student loan.

Grafikelemente website finanzieren allgemein

Who can receive support?

Those entitled to apply are German pupils, German students and placement students and foreign trainees, in certain circumstances.

The following conditions also apply:

  • Aged at least 18
  • The loan is only granted until people reach their 36th birthday.
  • The student loan programme only supports training courses, which are recognised as part of the BAföG scheme or attending a foreign training institute (or work experience), if this is equivalent to attending a German training centre.
  • Pupils must have a vocational qualification or be in the last-but-one or the final year of training, which will lead to a vocational certificate.
  • Students must have reached an advanced stage of their training, e.g. have passed the intermediate examination on their course, or be pursuing a master’s degree after the completion of a bachelor’s degree or additional, supplementary or postgraduate studies.
  • The student’s loan is normally only granted to the end of the 12th university semester – and beyond if you have been accepted for the exams and confirmation is available that you will be able to complete your studies within the support period (the loan programme also covers the practical year for medical students).

Conditions

A summary

  • Amount and duration of loan

    The student loan is paid in monthly instalments of EUR 100, 200 or 300. The maximum number of monthly instalments granted during any training period is 24, i.e. the maximum figure is EUR 7,200. If required, for example, when purchasing expensive working materials, one part of the loan can be paid out as a sum in advance – up to EUR 3,600 – in addition to the monthly payments – provided that this does not exceed the limit of 24 months or the final figure of EUR 7,200.

  • Interest

    Interest must be paid on the student loan from the day that it is disbursed. The interest rate is variable and is governed by the low-interest 6-monthly EURIBOR (European Interbank Offered Rate) plus an administration charge of one percent per annum. The interest rate is adjusted in line with the current conditions every six months, on 1 April and 1 October. Interest does not need to be paid until repayments start. No special application needs to be made.

  • Repayment

    No repayments are required for the student loan for four years – starting from the first disbursement. After the expiry of the period when repayments are unnecessary, the loan must be repaid in monthly instalments of EUR 120. It can be repaid fully or partly in advance at any time without any additional costs being incurred.

Bildungskredit (official website in german language)