Many banks offer especially designed student-credits on quite varying conditions. The Student Administration Hanover is distribution partner of the "KfW-Studienkredit" (KfW-Study Loan).

This loan offers an additional possibility of study financing, without a check being made on the financial state and irrespective to BaföG. Entitled to this loan are students from Germany or the European Union, as well as their family members, who are studying at a state-run or state-approved university and do not have a job-qualifying university degree, yet. Master studies can be financed with the study loan as well. At the beginning of the financing the student must not be older than 30 years, though.

The financial promotion can amount from 100 € to 650 € per month until the 10th study semester (in exceptional cases until the 14th semester). The amount of money will be decreased monthly. At the latest by the 6th semester it is obliging to produce an efficiency statement; otherwise there will be no more payments.

The loan must be paid back not later than 25 years after the termination of the payments. Different from BAföG, this study loan cannot be waived or diminished because of short study times, good results or a payback ahead of time. If you e.g. received 400 € a month for ten semesters by the KfW, that would make a debt of 24 000 € – plus interest! At the time being the rate of interest is 3.29 %; the guaranteed maximum interest rate is 8.35 %.

Before you raise a KfW-Study Loan you should seek counselling at the Abteilung Ausbildungsförderung (Loan Department) or the Social Advice Centre of the Student Administration by all means. These institutions will advise you about whether there are more favourable means of study financing (BAföG, education credit etc.).

Concerning this additional offer, the Student Administration Hanover regards its role as advisor of the students and not as being geared to arranging as many loans as possible.

Further information (in German) can be found at the KfW-Förderbank.