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Education Loan for Germany

Updated on Nov 15, 2022
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Q. How can I apply for a student loan in Germany?

A. To be eligible, you must be over the age of 18 and under the age of 36. You must also be enrolled in a state-run or state-accredited German higher education institution. If you wish to study in a foreign nation, the institution must be equivalent to a German university.

Q. Is an Education loan for higher studies in Germany a good idea?

A. Loans for education to study in Germany are a fantastic idea. A full-time study at a top-ranked university in Germany comes with an enormous financial burden. When students find it difficult to get finances to cover their educational fees, an education loan might assist them in pursuing their preferred degree.

Q. How much of a loan should I take out in order to study in Germany?

A. The average annual cost of studying in Germany is between €11,000 and €15,000 (€8,50,000 and €12,00,000). Loans for Indian students to study in Germany often cover up to 85% of this cost.

Q. In India, which bank is best for educational loans?

A. HDFC, Tata Capital, Union Bank of India, HDFC Credila, and others are some prominent banks offering education loans to study abroad.

Q. Is it possible to acquire an education loan with no interest?

A. There are several banks that provide low-interest college loans, but none of them offers interest-free education loans.

Q. How much percentage of marks is required for a study loan?

A. To be eligible for an education loan, students must have scored 60% or above.

Q. How much of a loan am I eligible for in Germany?

A. Residents of Germany can borrow up to 80% of the value of their home. Non-residents may be restricted to 55–60 percent of the assessed value. Borrowers must have a yearly income of at least €20,000. Furthermore, your monthly mortgage payments must not exceed 35% of your monthly income.

Q. In Germany, how much is student debt?

A. Students generally owe 48,000 euros in tuition fees after four years of college. Given that the average yearly salary in Germany is presently 33,000 euros, this is a hefty sum for a German student.

Q. Is it viable to earn money while studying in Germany?

A. Despite the absence of tuition fees, German institutions charge a small fee to fund administrative costs, the student union, and public transportation. This is known as a "semester contribution," made at the beginning of each semester.

Q. Are there any discounts for students in Germany?

A. Students in Germany get discounted prices on public transportation, such as buses, subways, and trams, as well as vehicle rentals. The BahnCard, for example, provides 25 to 50 percent discounts on rail tickets in Germany. Student discounts are typical in university towns' entertainment venues, movie theaters, libraries, and restaurants.

Q. What is the minimum wage in Germany to obtain a Blue Card?

A. To be eligible for the Blue Card, an applicant must have a university or college diploma and a job offer from a German firm paying at least €56,800 per year (2021).

Q. Is it possible for overseas students to acquire a loan in Germany?

A. In Germany, international students can apply for interest-free loans of up to 650 euros per month. On April 30, Federal Education Minister Anja Karliczek announced that students may apply to the German state-owned development bank KfW for interest-free loans of up to 650 euros per month.

Q. When is the best time in Germany to apply for a student loan?

A. When applying for a student loan in Germany, you must act quickly. After a student applies for a loan, it is expected that the bank will provide the cash in around 1.5 months. Before applying for an education loan, candidates should evaluate how much time it will take to complete the subsequent processes, including the visa process.

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