It targets students who depend on financial support for their studies. BAföG is available to international students only in exceptional cases (see next page).
Are international students eligible for BAföG?
Initially, BAfög was intended to serve German students alone. It has since been extended to international students. However, funds for non-German recipients are harder to obtain and are generally limited to exceptional cases. Recipients typically must have been resident in Germany for 5 years.
Who is eligible for BAföG?
To qualify for BAföG, one must generally be a citizen or permanent resident of Germany and/or have lived in Germany for five consecutive years. There are some exceptions. Generally, BAföG repayments are capped to a maximum of 10,000 € regardless of the total loan sum that was granted.
Can international students get loan in Germany?
International students in Germany can apply for interest-free loans up to 650 euros a month. … Federal Education Minister Anja Karliczek announced on April 30 that students could request for interest-free loans of up to 650 euros a month from German state-owned development bank KfW.
Can international students get bursaries?
International students may receive a bursary or fee reduction from a university, based on a prior relationship or existing link with them: a family member, i.e. a sibling, parent, child, or spouse, is a current student or alumnus.
Can I take a loan as an international student?
International students can apply for a student loan without a cosigner if they are enrolled at a Canadian school that is already approved by a lender. International students from many countries, American students and even Canadian citizens can apply and a co-signer is not required.
How can I get finance to study in Germany?
Here are some ways to finance your studies in Germany:
- Parental income.
- Personal savings.
- Working part-time.
- Student loans.
Is BAföG a scholarship?
BAföG (= “Bundesausbildungsförderungsgesetz” or Federal Education and Training Assistance Act) enables young people to choose a study programme that best suits their skills and interests. … Half of the BAföG financial support is usually a grant, the remaining half an interest-free loan.
Do you have to pay back BAföG?
You must pay back the BAföG loan within 20 years with a minimum monthly instalment fixed by law. The Federal Office of Administration takes into account any additional exemption periods of no more than 10 years. Payment dates are set for the repayment instalments.
How do I finance a study?
10 Other Ways To Finance Your Studies
- Apply for financial aid. …
- Save early and save often. …
- Apply for college scholarship. …
- Make extra cash. …
- Enroll in public service programs. …
- Reduce your college expenses. …
- Save money on text books. …
- Gift ideas.
How much can I borrow in Germany?
German residents can borrow up to 80% of the property value. Non-residents can be limited to approximately 55–60% of the assessed value. Borrowers must also have an annual income in excess of €20,000. What’s more, your monthly mortgage payments can never exceed 35% of your monthly income.
Does Germany give money to students?
BAföG (“Bundesausbildungsförderungsgesetz”) is a type of government funding for students in Germany. Students at higher technical colleges, academies and universities can receive benefits in accordance with the Federal Training Assistance Act (BAföG).