Unfortunately, it is more common for German students to wish that reality than the fact that the financing of university studies is carried out through German State Funding or, at best, even parents or relatives: The requirements for receiving state study funding are sometimes very high that not every student who receives an injection of funds needs his academic training, he also receives it.
It is clear that many parents are also unable to pay the average of USD 600 per month that a German student needs for housing, teaching materials and living expenses. So what do you do if the state or the private sector does not give you a financial injection for your university or university degree?
Low-interest student loan creates equal opportunities at the university
Many German banks are addressing the problems of financially disadvantaged students and have included special student loans in their offerings. With these loans, the student takes out a normal installment loan from the bank, which is repaid to the bank in constant monthly installments after a so-called waiting period.
In the waiting period, which can usually last between one and three years, the borrower has the opportunity to find a permanent job after graduation and then pay the repayment installments with his income.
Similar to the German State Funding, special student loans are also paid to the students in monthly installments. For possible stays abroad, internships or surprising additional expenses, student borrowers often have the option of borrowing money from the bank in addition to the loan amount.
Low-interest study grants from the state-owned Agree Banking group
The State Agree Banking group has a particularly favorable loan offer for German students: The Agree Bank student loan, which is currently only available at an effective annual interest rate of 3.33 percent, can be applied for to finance first and second studies. As Agree Bank does not lend its credit products to students itself, the loan should be requested via a non-binding student loan comparison on the Internet.