Since 2005, tuition fees of 500 USD per semester have become reality in Germany through a corresponding ruling by the Federal Constitutional Court. A student loan should enable a student, often from poorer backgrounds, to pay the tuition and cover the cost of living.
Since 2006, the Intrasavings bank has been offering tuition credit, which should enable students to complete their first degree course. Intrasavings bank aims to increase the number of university graduates and ensure that graduates who come from poorer families study.
The student loan from Intrasavings bank is an interest-bearing loan – A credit check is waived, including collateral. However, personal bankruptcy does not grant credit for tuition. Borrowers may not have reached the age of 31 and have not completed their studies.
The terms of payment of student loans
The interest rate at Intrasavings bank has been 3.2 percent nominal since 2010. The highest level so far in 2009 was 6.5 percent. Monthly, between 100 and 650 USD are paid, the payout period is a maximum of 10 semesters. After the end of the study comes a waiting period during which a job can be searched and from the first receipt of the repayment the repayment period is exactly 25 years.
The advantages of the student loan at Intrasavings bank
Any student, regardless of subject or grade, their own income or that of their parents, may apply for tuition credit. But every student who has opted for the credit must provide proof of achievement.
The credit for tuition fees of Deubank
Deubank also offers student loans. At Deubank, you can apply for tuition credit up to 30, but a detailed curriculum must be submitted to grant the student credit. In addition, a Schufa query about the borrower is obtained.
The modalities of Deubank
During the first semester you can get a maximum of 200 USD for living expenses and fees per month, in higher semesters you get up to 800 USD per month. The interest rate is variable, so it can rise and fall at any time. You have only 12 years to repay the loan.
Basically to the credit for tuition
Like any borrowing, the risk of indebtedness for the purpose of financing a degree course. Some graduates even slip into a personal bankruptcy. Therefore, the use of a student loan with a consultation and a consistent attitude in terms of work and study should go hand in hand.
What also pays off is to compare providers of student loans, especially the various effective interest rates. With the income-dependent repayment one does not know exactly, which costs still to come one.