Where Can You Get International Student Loans in Germany?

With Germany’s free education, taking out a student loan seems meaningless. But tuition isn’t the only hurdle that foreign students must pass. They must also take care of their living expenses.

When it comes to study abroad the Germany is one of the finest study destination and cost of living in Germany is not too high compared to other countries. But the cost can still increase depending on which city you live in and your lifestyle.

Getting a student loan can help you cover a large part of your living expenses. If you need an international student loan, here’s where you can get one:

BAföG

The Bundesausbildungsförderungsgesetz or BAföG means the Federal Training Assistance Act. This assistance seeks to allow students, both German and foreign, to study in Germany.

International students are eligible to receive BAföG. But, the requirements are more rigid and strict for non-EU students.

The money you’ll receive is a combination of grants and a zero-interest loan. Each month, recipients can get up to a maximum amount of €861.

KfW 

The Kreditanstalt für Wiederaufbau (KfW) is one of the most prominent student loan providers in Germany. Credit institutions that arrange the KfW loan have their own eligibility requirements.

If you are a non-EU student, you can also get this loan under two conditions. One, if you are a family member of German or EU citizens. Two, if you are a foreign student who got higher education entrance qualification in Germany.

Private Foundations

Private foundations also arrange student loans for international students. A great example is the E.W. Kuhlmann Foundation which offers two kinds of funding. If your program can be completed in 24 months, you can apply for their “rolling scholarship”.

The BAföG and KfW both have stricter rules for non-EU students. But for rolling scholarships, nationality is irrelevant.

To apply for one, you must complete a preliminary application on their website. There’s still an actual application process to go through.

Individual Banks

Another alternative student loan provider is individual banks. Note that many banks also arrange the KfW, while some banks offer their own student loans. 

You might consider a student loan from a bank because collateral is not required. Other student loan requirements vary depending on the bank you’re applying for.

Most student loan conditions from individual banks are tough. Evaluate what your financial needs are before taking this one.

Federal Office of Administration

This is an educational loan that foreign students can get, although there are limitations for non-EU students. Student loans from the  Federal Office of Administration have similar conditions with the BAföG.

Make sure you are eligible for a student loan from this provider. Note that you may not have that it may be harder for you to get one if you’re a non-EU citizen.

Taking out a student loan in Germany can help cover most of your living expenses. Apart from student loans, you can also get scholarships in the country.

If you’re wondering where you can get international student loans in Germany, there are many options to consider. Read our quick guide to student accommodation in Germany next to learn more.