There are many different costs during your studies. Students often cannot avoid funding. Studying costs money. Even if you don’t have to pay tuition fees, you still have monthly expenses for books and other study materials, rent, utilities, food, leisure and going out.
What to do if you are not financed by your parents or have a profitable part-time job? You can apply for a Student Loan or take out a student loan. Good Credit even approves in addition to Student Loan.
But you should consider one thing: The risk of debt is high because you must repay the loan to the bank after completing your studies, including interest.
The situation is different with Student Loan – half of the debt is canceled
Pupils of general education schools from the 10th grade as well as of technical and vocational schools, evening high schools as well as university students and students from academies can be funded according to the Federal Education Promotion Act. Prerequisite: You must be under 30 at the start of your studies.
The grant from Student Loan depends on the income of the applicant’s parents as well as on his own assets and income. The Student Loan maximum rate is 670 dollars per month, of which 50 percent is granted as an interest-free loan.
You can use the Student Loan calculator to determine whether a Student Loan application is worthwhile for you and how much money you would get. In addition to the calculator, you will also find everything related to Student Loan there.
A student loan from the Good Credit
With an effective annual interest rate of 3.28 percent, the state development bank Good Credit is one of the cheapest providers of Good Finance. However, the maximum amount of a loan is 650 dollars per month. First and second degree (including distance learning) at a German university, as well as postgraduate and doctoral studies, are funded. It doesn’t matter whether you study full-time, part-time or part-time. The loan is granted without collateral and regardless of income.
How long you will be funded depends on your age, but a maximum of 14 semesters for a first and second degree, and a maximum of six semesters for postgraduate and doctoral studies.
The age limit is 44 years. The credit is not granted if you complete your entire studies at a foreign university. However, if you study abroad for a semester or two or do an internship abroad but are still enrolled at a German university, this has no influence on the funding. Further information and applications can be found on the Good Credit website.
Student Loan bank loan through Good Credit
Are you a student at a university, academy or higher technical school and no longer receive a Student Loan? Then you can apply for a Student Loan bank loan at an interest rate of 1.34 percent through Good Credit. The prerequisite is that you start or have started studying before the age of 30.
However, if you have completed your Abitur on the second course of education or you were unable to start your education before the age of 30 for serious reasons (illness, child-rearing), exceptions apply. The amount of money you receive each month is determined by the training promotion office responsible for you. As soon as the office has sent your data to Good Credit, Good Credit will transfer the approved amounts to your account each month.
Good to know: You can earn up to 400 dollars a month. You can obtain further information directly from Good Credit.