Study loan

The Kreditanstalt für Wiederaufbau (KfW) supports students between 18 and 44 years by means of the study loan. The maximum age may be exceeded if the student has already completed semesters within the respective course of studies at the beginning of the financing. Those semesters will be added to the maximum age.
The study loan is independent from one’s own income or the income of one’s parents.

Promoted studies
Elegible persons
Payment period
Payment amount
Performance record
Application
Loan account
Interest
Grace period and repayment

 

Promoted studies

  • fundamental undergraduate course
  • postgraduate degree (master-, postgraduate-, complementary- or research studies)
  • part-time studies
  • correspondence courses
  • promotions
  • extra-occupational studies
  • second course of studies (note: only undergraduate-, no master degree!)
  • dual degree studies
  • by the way, all respective universities must be state universities or state-appproved. Courses at vocational colleges will not be promoted.

 

Elegible persons

  • German students
  • Relatives of German citizens (in that case, the own nationality does not count)
  • EC-citizens who have been living in Germany for three years
  • Relatives of such EC-citizens
  • Educational residents

In addition to the main application, non-German applicants must hand in a special  form.

 

Payment period
The duration of the payment depends amongst others on the respective age and is limited to 14 semesters maximum. During a semester of leave, the payment will be suspended. Semesters abroad (without semesters of leave) will be financed.

 

Payment amount
The monthly payment amounts total between 100 and 650 euros. At the 1st of April and the 1st of October each (‘roll-over-date’), this monthly amount can be changed. At that time, the interest rate is fixed, as it is variable. The notification (of change) must be received by the KfW at the 15.03. or the 15.09. the latest.
Contrary to the education loan, a one-time payment is not possible, as the study loan serves the financing of the living costs. The maximum payout sum amounts to 54.600 euros.

 

Performance record
For the financing of a first- or second degree course of studies, a performance record must be furnished at the end of the 6th promoted semester. With a full-time bachelor’s degree study, that means at least 90 ECTS-points.

 

Application
The application is made via online application form; on the basis of the inserted data a contract offer will be automatically created. With this offer you have to contact a provider of your choice – as a rule those are amongst others the student services. Possibly, further documents will be needed (e.g. with international students).

Apart from your application you will have to produce

  • your current certificate of enrolment,
  • identity card or passport and
  • an account proof.

The provider will prove whether the formal requirements are fulfilled and forwards the contract offer to the KfW. The loan decision is exclusively with the KfW, a legal claim does not exist.

 

Loan account
The keeping of the account subsequently takes place via the online portal, which means that you can manage the study loan there. During the course of studies you have to present a certificate of study to the provider until the 15.4. and 15.10.each in order to make ongoing use of the loan.

 

Interest
During the payment period, interest will already be due and be settled against the payments. An interest deferral is possible with first- or second degree studies as well as with master-, postgraduate-, complementary-,  research- or master studies as well as with promotion, after producing a performance record. In case of an interest deferral, the monthly rate will be payed out completely.

 

Grace period and repayment
After the payment period a grace period will start, i.e. the time where the loan needs not to be payed back yet. It lasts 18 to 23 months, during which only the interest for the paid-out loan is due.

Before the beginning of repayment, the KfW will create a repayment plan via online credit portal.
The minimum return rate amounts to 20 euros per month, as long the loan can be paid back within 25 years.

It is recommended to use the repayment calculator at the KfW website. You will get a good first survey of interest and repayment of the loan via a  model calculation.

You will get a good overview of the study loan through  the Leaflet “Studies and job“ by the KfW.