Education loan

The education loan is a credit of up to 300 euros per month, that is assigned by the Federal Government via the Kreditanstalt für Wiederaufbau (KfW).

Promoted studies
Time specifications

Elegible persons
Payment duration and -amount
Application
Interest
Repayment

Promoted studies

  • Bachelor degree studies
  • Postgraduate studies – including master degree-, post-degree-, complementary or research studies
  • State examination and diploma programme

Doctoral programmes, part-time studies, extra-occupational studies and traineeship will not be promoted.

Time specifications

It is possible to apply at an advanced stage of the studies, that means that at least two semesters of the bachelor degree studies must have been successfully absolved. As a rule, the education loan is only assigned until the end of the twelfth university semester (exceptions possible).

The education loan is only granted until completion of the 36th year of one’s life.

 

Elegible persons

  • German students
  • International students under certain conditions: the residential status must be ‘stable’ in a broader sense

Find out here, under which exact conditions international students may make use of this loan.

 

Payment duration and -amount

The education loan can be used for 24 months maximum (also in addition to BAföG). It is assigned independent from the income of the student or his parents. Up to a total amount of 7,200 euros, it is possible to apply for consistent monthly rates of 100, 200 or 300 euros.

If the 24 months are not exploited or if the monthly rate remains below 300 euros, it is possible to apply for a one-time payment (in consideration the maximum of total 7,200 euros) of up to 3,600 euros, if it can be proven that the money is needed for special educational purposes. Under this pre-condition it is possible to make use of an exclusive one-time payment, too.

The promotion of a semester of leave is only possible, if the suspension is arranged due to a  semester abroad or an internship semester. Semesters abroad can be promoted, if the produced academic performance is content-related to the domestic course of studies.

There is a further entitlement of 24 months in case of master degree-studies (considering the age limit of 36 years, though).

 

Application
The application should take place via the website. Within two weeks, the necessary verifications must be submitted via mail or fax:

  • copy of identity card
  • current enrolment certificate
  • certificate of university concerning the achieved performance of the first year of studies

The respective contract offer of the Federal Administration Office (Bundesverwaltungsamt) must be accepted within four weeks. The signature must be verified by the student services or by a bank (legitimacy proof).

 

Interest
The education loan will be interest-bearing from the day of payout on. The interest must not be payed until the beginning of general repayment, though.

 

Repayment
The repayment starts four years after the payout of the first rate and is made in minimum rates of 120 euros per month. A deferral or reduction of rates, respectively, is possible. The application for deferment must be accompanied by  lists in regard to wages, assets and expenditures. For further information see www.bildungskredit.de.