Options for financing your studies
There are several ways to finance your studies, which are listed here. Most students finance their studies through a combination of different methods.
1. Personal savings or financial support from others
This includes, for example, money earned during education or employment saved up was or the financial support from parentsOne contribution from the state is this Child benefitThis allowance is usually paid during studies until the age of 25. Further details, including information on parental obligations for financial support of studies, can be found at [website address] pages of the German Student Union Read more.
2. Scholarships
A scholarship is the most affordable way to finance your studies because you don't have to pay it back. Approximately three percent of all German students currently benefit from a scholarship. In addition to the financial support There is usually also a non-material supportOur [contact person] will answer any further questions Scholarship Competence Corner.
3. BAföG
BAföG is the state student funding, the height of which depends on the Parents' income The amount of BAföG (Federal Training Assistance Act) is determined according to specific conditions for each individual case. The current maximum rate is.. 934 eurosSince this is a highly individualized calculation, we strongly recommend consulting the relevant expert Student Union Giessen. An initial assessment is also provided by the BAföG calculatorIncidentally, only the following applies to BAföG (Federal Training Assistance Act): half the money, until maximum 10,010 euros, to be repaid, the other half is a government grant.
You can also submit your application online at: www.bafög-hessen.de.
Applying is worthwhile in most cases, because BAföG is also paid proportionally.
4. Working alongside your studies
Many students work to supplement their income. Usually, they have enough time alongside their studies to, for example, 520-euro job to exercise this skill. However, it is important to pay attention to various issues, such as.. Tax or insurance aspectsDetailed information can be found on the Website of the German National Association for Student Affairs.
If you have a job If you are looking for something, feel free to look in THM job portal or the Job portal of the Giessen Student Union over.
The company offers personal consultation Student Union Giessen to.
5. Student and education loans
credit This means that after graduation (possibly with a short break), you must repay the monthly funds you received during your studies pay it back – plus interest. There are numerous providers here with different offers Student Union Giessen provides advice and support with the application process.
A NOTICEPlease thoroughly examine all the aforementioned options before taking out a student loan and only decide on a loan if the other possibilities are insufficient!
6. Study fund
Study funds are also a way to finance studies, where the funds received are ultimately.. repaid will be – under individually agreed conditions, as "reverse generational contract". However, the principle is somewhat different than with loans or student loans (BAföG), as it depends on individual opportunities in the later job market, etc., and one pays proportionally from his future income back. Depending on personal circumstances, this can be (significantly) more than you received during your studies, but if you have no income, it will be nothing.
A NOTICEAs with loans, we recommend that you thoroughly research the terms and conditions of the various providers before applying for or deciding on a student loan fund.