A Bildungskredit or education loan is a time-limited, reduced-interest loan issued to support a student in the advanced stages of their education or training. You can take one out alongside or in addition to BAföG funding, and neither your nor your parents’ income or assets will have any bearing on how much you are loaned. The maximum loan you can receive is €7,200 over the whole period of study in question. You can decide whether to receive it in monthly installments of €100, €200, or €300, for a maximum of 24 months, and you can request a one-off advance payment of up to €3,600 for special educational purposes. You start repaying an educationloan four years after receiving your first payment, in monthly installments of €120. You are allowed to pay it back in full or in part sooner, however. More information on educationloans is available on the Federal Ministry of Education and Research website.
Irrespective of whether or not you are receiving BAföG funding, you can apply for a student loan, or Studienkredit, to finance your first university degree. Monthly payments range between €100 and €650. Repayment begins after 6 to 23 months and must be completed within a maximum of 25 years.
Anyone taking out a student loan or an education loan should be aware that the interest rates are fixed for six months at a time. Studentenwerk can also advise you on matters of student funding outside of the BAföG program.