Know more about Grants and Student Loans in Germany

Students who aspire to study in Germany must be aware of the wide variety of well-established public schemes for international candidates. These are primarily focused to provide them with financial support while they are studying in Germany. A majority of students at German Higher Education Institutions are entitled to receive government support for their education in one form or another. Additionally, your will find student loans available from German banks and education funds offered by academic institutions and private companies. Continue reading to find out more.
Basic information about student grants and loans in German
International candidates who are in financial need and aspiring to study in Germany can expect to find support from various government grant systems. In some cases, these are restricted to German nationals or residents, but most of them are accessible for students who belong anywhere across the world. There are several loans available via government-supported schemes that can be acquired by all students without any income restrictions.
Type of grants and loans
The chief vehicle for student support is the Ministry of Education of the Federal Government. This scheme is provided at large and involves quite complex calculations and scholarship discount based on the income and assets of the students.
The second source of government international students funding is through various German and private collaboration Scholarships. This relies on both public and private funding model, with the government and private businesses contributing equally for the advancement of a cause or innovative research. This covers a relatively large portion of the German grants scheme, aiding thousands of students each year in receipt of this support.
Loans for education in Germany are provided primarily through the students’ Education Loan scheme. This is a government-supported financial support system, which is administered and funded by a group of banks. Furthermore, there is also the Education Fund system, which has over 30 different loan schemes available and is quite popular among foreign candidates. It can be acquired in Germany for students belonging to all walks of life and provide support depending on a range of situations.
Availability and conditions in terms of receiving a grant or a loan
Applications for the grants and loans can be made either through Financial Aid offices at Higher education Institutions (HEIs)or student unions. Availability may sometimes be occupied to German national and residents, EU citizens who are already in Germany, and foreign residents living under the Freedom of Movement provisions of the EU. Non-EU students or international students with legal residency permit can also apply for this grant.
Non-EU students are also eligible for such funding schemes if they meet the residency requirements. On the other hand, there are grants which are freely available to all foreign students holding high academic achievement. Grants can also be acquired in principle to foreign students, where the applicant is required to showcase their intention to remain in Germany be employed after graduation. Click here for more about the student experience in Germany.

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