Purpose of the Asset Declaration
The purpose of the asset declaration is to ensure that applicants who possess significant personal assets initially use them to cover their living expenses before receiving state support. Only the assets exceeding the legally stipulated exemptions will be taken into account for Bafög benefits.
Scope of the Asset Declaration
The asset declaration must include all assets owned by the applicant at the time of application. This includes cash, bank deposits, securities, real estate, vehicles, and other tangible assets. Claims such as outstanding payments and entitlements from insurance or savings contracts must also be disclosed.
Countable Assets
Countable assets include:
- Cash: Cash amounts that the applicant possesses.
- Bank Deposits: Balances in checking accounts, savings accounts, and money market accounts.
- Securities: Stocks, mutual fund shares, bonds, and other investments.
- Real Estate: Land parcels, condominiums, or houses that are not self-used.
- Vehicles: The current value of vehicles whose market value exceeds 7,500 euros.
- Tangible Assets: Valuable items such as jewelry or art pieces that serve as investments.
- Claims from Insurances: Capital-forming life insurances or savings contracts that have already matured for payout.
Exemptions in Asset Declaration
The Bafög law stipulates specific exemptions for the applicant’s assets, below which the assets will not be counted. The exemption currently stands at 15,000 euros for applicants under 30 years of age and at 45,000 euros for applicants aged 30 and above. Additional exemptions of 2,300 euros each apply for spouses and children of the applicant. Only assets exceeding these exemptions will be counted towards Bafög benefits.
Special Provisions for Certain Assets
Certain assets remain disregarded under specific conditions. These include:
- Self-Occupied Real Estate: A self-occupied condominium or home is generally not counted as an asset.
- Household Items: Furniture, household appliances, and personal belongings are not considered assets.
- Vehicles: Vehicles with a current value below 7,500 euros are not considered as assets.
- Purpose-Bound Assets: Assets that are demonstrably intended for a specific purpose, such as retirement planning, may be disregarded.
Proof of Assets
The applicant is required to fully and truthfully declare all assets in the Bafög application. Relevant evidence must be submitted for the verification of the asset declaration. This includes:
- Account statements for the last three months for all bank accounts.
- Proof of securities accounts and their current status.
- Land registry extracts for real estate ownership.
- Vehicle appraisals for vehicles valued over 7,500 euros.
- Contract documents for insurances and savings contracts.
Objection Against Asset Calculation
If the applicant believes that the asset assessment is incorrect, they can lodge an objection. The objection must be made in writing and should be supported by additional documents or evidence. If necessary, a judicial review of the decision can also be requested.
Impact of the Asset Declaration on Funding
If the applicant’s assets exceed the exemptions, the exceeding amount will be deducted from the Bafög benefits. This means that the applicant must first use their own assets to finance their vocational training (Ausbildung) before receiving state support. The deduction occurs in monthly amounts, which will be subtracted from the countable assets until they are exhausted.
Relevance of the Asset Declaration
The asset declaration is a crucial part of the Bafög application process. It ensures that funding is targeted towards those trainees who genuinely require financial assistance. At the same time, it prevents applicants with substantial assets from improperly claiming state benefits, even though they could finance their Ausbildung themselves.