Overview: Funding your education in Germany
Getting admitted is only half the battle - students also have to
consider how to finance their education. But with possibilities that
range from loans to diverse scholarships, there is no shortage of
options.
Many
institutions in Germany offer financial support to students, but the
key for scholarship-seekers is to stand out. That's possible not just
through intelligence or grades alone - personality and social engagement
are also considered. The organizations that sponsor scholarships are
just as varied as the types of students they seek.
There
are also a number of programs that target international students at the
undergraduate and graduate levels. Collecting information and applying
early is important, given the high number of applicants. In recent
years, just three percent of German students received scholarships, so
students must also keep an eye out for other ways to finance their
education.
Debt without guilt
The
introduction of tuition fees in some German states has made finances
for many students tight. The course loads expected of Bachelor and
Master students also make it a challenge to work part-time while
studying.
 Students often have easy access to loansThat's
why more and more politicians and economists are calling for students
"not to fear debt." Many German banks now offer loans at generous rates
for students, since statistics show that university graduates generally
don't remain unemployed for long and are able to pay back their debts
quickly.
Nonetheless,
those interested in loans should pay close attention to the fine print -
interest rates among various banks differ significantly.
BAfoeG: state-sponsored loans
The
government also provides loans to students, but they're contingent upon
the income level of the students' parents. The law, known by the
abbreviation "BAfoeG," allows students to borrow up to 650 euros per
month. Half of the money received consists of an interest-free loan,
while the other half is a grant that does not have to be repaid.
All
German students are eligible to apply for BAfoeG, while international
students must meet one of several criteria relating to how long and why
they have lived in Germany. Those who are unsure about whether they
qualify can get more information from the student union at their
universities.
Scholarship amounts
Most
scholarships offered in Germany are calculated to cover students'
living costs. But those who wish to work alongside their studies must
report this to the scholarship provider. The amount they earn is
generally subtracted from the money they receive.
 German political parties know that today's students are tomorrow's decision-makersPolitical foundations
Germany's
political parties have recognized that today's students are the
decision-makers of tomorrow. As such, financial support for
international students and doctoral candidates is also in the interest
of German politicians. Those who study in the country get to know German
companies and institutions better.
Especially
gifted students can receive support from political foundations, but
they look for those who have demonstrated social engagement in the past
and who may be likely to use the knowledge they gain in Germany at home.
Help with finances
The
coalition of German student unions has put together helpful information
about scholarship opportunities on their website, and the German
Academic Exchange Service (German: DAAD) also has an extensive database
of scholarship opportunities.
Students
facing tough financial circumstances can seek help from student unions
or sometimes even from religious associations affiliated with
universities that offer support to students.
Author: Claudia Unseld, Gaby Reucher (gsw)
Editor: Kate Bowen
http://www.dw-world.de/dw/article/0,,6043926,00.html
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