KfW Student Loan Overview (KfW-Studienkredit)
The KfW Student Loan (KfW-Studienkredit) is a nationwide available student loan offered by the Kreditanstalt für Wiederaufbau (KfW). It is aimed at students who need financial support for their education (Ausbildung).
Eligible Students
The KfW Student Loan is available to all legal adult students enrolled at a public or state-recognized university in Germany. The funding is independent of the income and assets of the students or their parents.
Loan Conditions
Students can receive between 100 and 650 euros per month. The maximum funding duration is 14 semesters. Repayment starts 6 to 23 months after the disbursement phase ends. The interest rates are variable but can be fixed upon request.
Application Process
The application is done online via the KfW website. After the online application, the necessary documents must be submitted to a KfW distribution partner, such as banks or student services.
Repayment Terms
The repayment of the loan occurs in monthly installments. Early repayment is possible at any time without additional fees. The repayment phase can be individually adjusted to minimize the financial burden.
Advantages and Disadvantages
Advantages of the KfW Student Loan include flexible disbursement, income-independent approval, and the option for customizable repayment. Disadvantages include variable interest rates and long-term debt.