If students want to invest in knowledge, a certain financial budget is required. Because like any other investment, studying can be relatively expensive. Most federal states charge tuition fees of between $ 500 and $ 800 per semester. While studying in many Scandinavian countries is free, education in Germany is not free. Depending on the federal state and institution, up to $ 1,000 tuition fees per month are charged for master’s programs. With fees ranging from $ 3,500 to $ 13,000 and $ 10,000 to $ 40,000, studying in the UK and US is much more expensive.
Funding from the Best Bank
To ensure that the high fees do not prove to be an insurmountable obstacle, the Federal Government grants an installment loan to students through the Capital Lender. Without this financial injection, many school leavers could not start studying. In the medium term, this would lead to a pronounced shortage of skilled workers in Germany. Growth and prosperity would be jeopardized.
KfW-Bank grants an installment loan for students as part of various funding programs. The Credit Aid bank loan is very well known and popular. Students at universities of applied sciences, universities and academies who are under the age of 31 are supported. The nominal interest rate is currently 2.57% per year and is adjusted every six months to the 6-month $ibor (plus surcharge).
This student installment loan can be repaid within 22 years from $ 105 per month. Alternatively, the student installment loan can be applied for as an educational loan. Credit amounts between $ 100 and $ 300 are permitted. The applicant must not be older than 36 years. Funding ends after 24 months at the latest. This installment loan for students can even be taken out in addition to the Credit Aid bank loan. The loan repayment begins four years after the payment based on monthly installments of at least $ 120.
Installment loans for students are not granted by private credit institutions. Regular income is essential for approval.