Is an MBA necessary for bank promotion

Student loans for studying abroad

Those who are neither entitled to BAföG nor benefit from a scholarship sometimes have no other choice. Affected students must in this case for financing - be it for living, for tuition fees or for special expenses Student loan for studying abroad take up. The main difference to a "normal" loan is that the sum in question is usually not paid out all at once, but in monthly amounts. And also the Ideally, conditions adapt to the needs of young students and young professionals.

Until a few years ago there was still a large selection of student loans and many private and public banks offered their own student loans for studying abroad. In the meantime, however, this selection has become manageable. Most banks provide the KfW student loan from the Kreditanstalt für Wiederaufbau and, with a few exceptions, no longer offer their own student loans.

It is different with Education / Study Fundthat have long been common in the USA and have been springing up like mushrooms in Germany for some time now. In the following we give you an overview of the most important student loans and education funds that you can also use Finance a semester abroad and sometimes even a full course abroad can.

In any case, the following applies: Check and compare the offers and conditions carefully and do not make any hasty decisions. Before you take out an interest-bearing student loan for studying abroad, you should read about other funding options to inform. In addition to BAföG and BAföG abroad, there are institutions such as the DAAD as well as foundations and gifted support agencies that award full and partial scholarships for studying abroad.

Overview of student loans for studying abroad

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Students who neither have the chance of BAföG abroad nor receive a scholarship can find out about various student loans for studying abroad.

The Germany-wide market leader in the field of student loans is the Reconstruction Loan Corporation (KfW). With its KfW student loan, it has increasingly displaced many other products in this area. The majority of private banks no longer offer their own education or student loans for studying abroad, but instead provide a KfW student loan; so among others Commerzbank, Deutsche Bank, BB Bank, Hypo Vereinsbank.

KfW student loan

The KfW student loan is the best-known and most frequently used loan to finance a degree. He can either directly from KfW Bank or from other providers be requested.

Possible type of study

  • Undergraduate courses (Bachelor, State Exam, etc.) as first and second degree
  • Postgraduate courses (master's, postgraduate studies, etc.) and doctorates
  • Semesters abroad can be financedas long as you remain enrolled in the German university

requirements

  • Enrollment at a state-recognized university in Germany
  • No more than 44 years old at the start of financing
  • Only for German citizens or EU citizens who have lived in Germany for at least three years
  • One-time proof of performance from the 6th semester

Payout

  • The loan duration depends on the type of study and the age of the borrower
  • 100 to 650 euros per month; depending on the age and the semester of support, the maximum financing amount 54,600 euros

repayment

  • Interest rate: variable, effective annual interest rate: 3.91% (August 2015)
  • Repayment only from a net salary of EUR 1,045.04; the maximum repayment period is 25 years (up to the age of 67 at the latest)

KfW student loan

Federal education loan: KfW education loans for studying abroad

In order to support students and to help ensure that an almost finished course does not have to be abandoned for financial reasons, the state has been offering its own educational loan program since April 2001, in addition to student loans. He can for universities in Germany or in other European countries can be applied for, whereby the foreign university must be equivalent to the domestic one. Internships can even under these circumstances outside of Europe be promoted. Because the federal government stands behind the borrower in the event of default, the conditions are comparatively favorable. A permit is granted completely independently of the income of the parents or the student.

However, the student loan can only be used by students in advanced training phases to be entitled to. This means that they have already successfully completed the first part of their studies and can prove this with the intermediate examination, for example. Such an education loan is approved by the Federal Office of Administration, which sends the decision directly Contract offer from KfW adds.

Possible type of study

  • Bachelor's / Master's degree in all subject areas
  • A semester abroad is possible
  • At a Full study abroad it is a prerequisite that the university attended there is equivalent to a training facility in Germany

requirement

  • Only suitable for the final phase of studies
  • Not more than 35 years old
  • EU citizens; Non-EU citizens have to prove a residence status according to § 8 BAföG
  • Certificate of enrollment, proof of achievement and proof that the course can be completed within the next two years

Payout

  • Up to 300 euros a month for a maximum of two years
  • A total of a maximum of 7,200 euros
  • Possible one-time Special payout: 3,600 euros

repayment

  • Variable interest rate; effective annual interest rate currently 1.09% (as of August 2015)
  • The repayment takes place four years after the first payment
  • Repayment amount: 120 euros / month; Deferral or reduction of the rate is possible

Federal education loan

Sparkasse Herford Student Loan

Not all savings banks have their own student loan on offer. Although the savings banks have a common umbrella organization, they operate autonomously. This can be seen on the one hand in the different types of student loans and on the other hand in the interest rate. Many also often only act as an intermediary for a KfW student loan. The Sparkasse Herford has with its student loan currently the most attractive offer for students who want to study abroad.

Possible type of study

  • All Bachelor, Master and PhD courses
  • Semesters abroad and full study abroad are possible
  • It is possible to change subjects and universities

requirements

  • No age or nationality restrictions
  • Study at a recognized university / technical college (certificate of matriculation)

Payout

  • A maximum of 30,000 euros within the standard period of study plus 4 semesters
  • Monthly payout amount variable up to 800 euros
  • In the case of a stay abroad, an extension of the term can be requested
  • Possible Special payout up to 5,000 euros

repayment

  • Amortization-free period: 24 months (not mandatory)
  • 3.41% fixed rate
  • Special repayments are possible at any time
  • Repayment duration: a maximum of 10 years

Sparkasse Herford Student Loan

Deutsche Apotheker- und Ärztebank: apoStudienKredit

The apoStudienKredit is the only offer from a bank in Germany that offers exclusively to students of certain subjects turns. The Deutsche Apotheker- und Ärztebank offers the loan both in combination with a KfW student loan and independently of it.

Possible type of study

  • Studies / PhD in the Medical specialties (Human, dental, veterinary and pharmacy)
  • Further training to become a psychological psychotherapist
  • Semester abroad possible; no full course abroad
  • A change of subject and university within the medical degree programs is possible

requirements

  • Citizenship of an EU country, Norway, Switzerland or Turkey
  • Maximum 35 years old; Doctoral students may not be more than 40 years old
  • Certificate of enrollment and self-disclosure

Payout

  • Combination with KfW student loan: max. 10,000 euros until the end of your studies; without KfW student loan: max.15,000 euros
  • The payout is flexible

repayment

  • The repayment can be arranged individually and flexibly, but must be completed within 15 years
  • The interest rate is variable and is currently 3.99%
  • Special repayments are possible at any time

apoStudienKredit


Education fund at a glance

Education funds differ from student loans in terms of provider, target group and modalities. Instead of banks and credit institutions, it is primarily companies, professional associations and private donors who invest in the training of selected students.

The With funds, repayment is usually linked to the percentage of the salary earned after graduation. Unfortunately, this is why education funds mainly support students in specific subject areas. The focus here is on MINT subjects as well as law and economics, because the job prospects here are very good and the graduates usually receive high salaries later.

Brain Capital: LL.M. Education Fund

Possible type of study

  • LL.M. courses in Germany and abroad
  • A full study abroad is possible
  • Change of university is possible

requirements

  • Only for EU citizens or for non-EU citizens who have passed their 1st state examination in Germany
  • No age limit
  • Certificate of enrollment from a law school, letter of motivation and selection interview

Payout

  • Maximum payout: 50,000 euros; Can be paid out flexibly over the standard period of study plus 4 semesters
  • Coaching programs during your studies

repayment

  • Individual and income-dependent after completing your studies from a certain minimum income (30,000 euros / year gross)
  • 7.5% to 8.5% of the salary at LL.M. after 1st state examination; 6% to 7% of the salary at LL.M. after the 2nd state examination
  • Maximum repayment period: 10 years

LL.M. education fund

Brain Capital: MBA Education Fund

Possible type of study

  • MBA courses in Germany and abroad
  • A full study abroad is possible
  • The duration can be extended for a semester abroad

requirements

  • No age limit
  • EU citizens; Non-EU citizens must have a very good knowledge of German and have an EU work permit
  • Certificate of enrollment, letter of motivation and selection interview

Payout

  • Maximum payout: 50,000 euros; Can be paid out flexibly over the standard period of study plus 4 semesters
  • Coaching programs during your studies

repayment

  • Individual and income-dependent after completing your studies from a certain minimum income (30,000 euros / year gross)
  • 4% to 8% of income
  • Maximum repayment period: 10 years

MBA education fund

CareerConcept: Education fund for socially responsible student financing

Possible type of study

  • Gradual and post-graduate studies, further education, doctorate, habilitation, post-doc; Students MINT subjects, as well as law and economics are usually preferred
  • Stays abroad and full study abroad are possible

requirements

  • No age limit
  • EU citizens; for non-EU citizens only with a guarantee
  • Multi-stage application process with letter of motivation, selection interview and assessment center
  • Certificate of enrollment, Schufa information, performance records

Payout

  • Monthly payment amount: 1,000 plus special expenses and tuition fees; maximum payout amount for the standard period of study plus 1 semester: 40,000 euros
  • An increase in the monthly payment amount is possible for stays abroad or for a full course of study
  • Coaching during your studies

repayment

  • Interest rate: Depending on income: for 4 to 8 years between 2 and 10% based on gross income
  • Repayment from a minimum income from a gross income of around 2,500 euros / month
  • In the event of long-term unemployment, the obligation to repay no longer applies

CareerConcept education fund

Festo / CareerConcept: Festo Education Fund

Possible type of study

  • First degree, further education, doctorate in courses of STEM subjects (Mathematics, computer science, natural sciences, technology) as well related areas and combined courses
  • Semesters abroad and full study abroad are possible

requirements

  • No age limit
  • EU citizens; for non-EU citizens only with a guarantee
  • Multi-stage application process with letter of motivation, selection interview and assessment center
  • Certificate of enrollment, Schufa information, performance records

Payout

  • A maximum of 40,000 euros
  • 800 euros / month for first degree; for part-time studies or doctorates up to 2,500 euros plus tuition fees
  • If you study abroad, the payout can be increased
  • One-time special payments are possible
  • Duration: individual

repayment

  • Depending on income: for 4 to 8 years a maximum of 10% of gross income
  • Repayment is only made from an individually determined minimum income

Festo education fund