Borrow money to finance your studies
If you would like to borrow money to finance your studies, you can get free and independent advice from our student advisory service. Bank plays an important role in financing education. On behalf of the Confederation, it is currently active in the areas of “interest-bearing bank loans under the Federal financial aid”, in the “Federal Education Credit Program” and with its own ” Student Loan”. A number of banks have been offering student loans for some time. For example, the supraregional provider is the promotional bank with the student loan, which you can also get advice from us. It offers all students advice on loan conditions and assistance in concluding the corresponding loan agreements.
Student loan from the Bank
The interest on the student loan is payable from the beginning of the payment. The student can arrange the whole term of the loan freely. The income of the spouses is insignificant, there must be no securities available. The repayment commencement takes place six months and 23 months after the distribution phase in monthly installments of at least 20, – USD.
A repayment can be made over 25 years, delimitations are possible. It is recommended that you have detailed information from our staff about the conditions of a student loan. Please contact us. The amount of loan repayments to be paid after graduation and above all accrued interest income should not be underestimated. More information about the application and a repayment calculator can be found here.
Student loan from the Bank
Many banks offer special loans for students with very different conditions. This offers the students (independently of Federal financial aid) a further financing option – without checking their own earnings or the financial circumstances of their own families. German citizens, family members of a German citizen who are with him in the Federal Republic (own nationality is irrelevant), citizens who have been legally resident in the Federal Republic for three years, family members of such an citizen,
Stay with him in the Federal Republic (the own nationality and length of stay in the Federal Republic does not matter) ie students with foreign citizenship, who have reached university entrance qualification in the Federal Republic or at a foreign university. The funding is for first and second degree courses (Bachelor, Diplomas, Teaching, State Examination), for further courses (Master, Supplementary, Postgraduate and Postgraduate) and PhD programs.
Remaining term of the loan for the repayment phase
The proof of achievement must be provided at least after the sixth semester, otherwise no further payments will be made. The repayment amount must be paid within 25 years after the end of enrollment and at the age of 67, and there is no waiver of short study periods, good grades or early payback. If, for example, 400 USD per month are received from the Bank for ten half-years, the result is 24,000 USD in debt – plus interest.
However, you can also choose a fixed interest option for the remaining term of the loan for the repayment phase. Before you take out a student loan, you should always obtain information from the education grant or the Sozialberatungsstelle of the Studentenwerk about whether there are even cheaper financing options for your studies (Federal financial aid, student loans, etc.).
This additional offer is not considered by the Studentenwerk to be a graduation, ie with the purpose of granting as many loans as possible, but is seen in the student advisory service.