Loans for study
If other alternatives are eliminated, it is possible to take out a loan to finance one's own living and education costs. Statistically, 5% of students use this option. The advantage of the uncomplicated fund raising stands against the disadvantage of having to make a repayment of the money plus interest later.
In order to obtain an overview and to decide which loan is advantageous in the individual case, offer comparisons can be used (see FINZANZtest 10/2013, Finanztip and CHE-Studienkredit-Test 2024).
State sponsored or proposed, the following offers exist:
- Graduation loan of the Studentenwerk
- "Education loan"
- "KfW Student Loan"
Student loan KfW
A degree can also be financed through an education loan. Here you will find information about the KfW loan.
Who is entitled?
- Germans, EU citizens with a three-year stay in Germany as well as their family members and all non-mobile foreign students
- Students studying for a first degree or consecutive master's degree or studying for a second or part time degree at a state or state-recognised German university
- Start of funding in graded age limit up to the age of 44
Services
- Income and wealth independent
- Funding amounts between € 100 and € 650 per month
- Funding until the 14th semester
Interest rate and repayment
- Variable interest with an adjustment to the capital market development on April 1 and October 1; Possibility of fixed-rate agreement for the repayment phase
- Interest rate variable 7.26 percent (April 2024)
- Fixed interest rate in the repayment phase, at 10 years, e.g., 6.69 percent (April 2024)
- Repayment within 10 years (maximum 25 years)
Brokerage
In the KfW portal you can find out which institutions arrange the KfW student loan.
Educational loan
You can also finance a degree through education loans. Questions about the education loan we answer here!
Who is entitled?
- German as well as certain foreigners with permanent residence in Germany according to § 8 BaföG
- Funding after passing the intermediate examination, after the first successful academic year in the bachelor's degree program or for a master or other consecutive degree course
- Funding until the age of 36
Services
- Income and wealth independent
- 3 to 24 instalments of 100, 200 or 300 € each
- Short-term (at least € 1,000) and interruption possible
- For cost-intensive work materials, an advance of up to € 3,600 can be claimed, including other instalments
- Until the end of the 12th semester, plus the exam and practical year of the physicians
Interest rate and repayment
- Variable interest with an adjustment to the capital market development on April 1 and October 1, respectively
- Interest rate 4.93 percent (April 2024)
- Repayment starts four years after the first payment in instalments of € 120 per month
Credit Institutions
A degree can also be financed through special loans. You can find such loan options here.
As a rule, only the KfW Student Loan is provided on the private loan market.
Education funds are similar to a loan, in which the repayment obligation depends on the subsequent earnings, therefore, it is high for good income, but possibly also completely omitted.
- Brain Capital: Education funds
- CareerConcept: Education funds
- Deutsche Bildung: Study funding
This list is not to be considered complete and contains no evaluation. The conditions are to be compared very accurately (see financial test 10/2013 or CHE study credit test 2024) and in each case it must be decided which offer is the most favourable. Regional providers are not listed, so you have to include them independently in a selection.
Foreign students may also be eligible for educational funding under certain conditions. Should you belong to this interest group, we advise you to schedule a personal appointment with us.
