Your Position:

When am I eligible for a bank loan?

Financial aid with a bank loan as per § 18 c BAföG is awarded for a second degree eligible for BAföG aid as per § 7 para. 2 BAföG, as financial support to aid degree completion upon exceeding the maximum grant period as per § 15 para. 3 a BAföG, and after a second change of majors with recognition of semesters studied in the previous major as per § 17 para. 3 BAföG.

The Financial Aid Office is responsible for the entire application process (filing and processing). Calculations on the amount of the bank loan are made based on the BAföG provisions. However, you yourself may limit the loan amount. This limitation can no longer be changed later during the grant period. The bank loan is paid out once you have signed the contract with the KfW Bank in Bonn that was sent to you along with the decision on the loan amount and returned this contract to the Financial Aid Office.

In contrast to BAföG, you will be obligated to pay back the loan in full plus interest. The interest is calculated according to the reference interest rate, the 6-month Euribor. Biannually, once on April 1st and once on October 1st, the interest rate for BAföG bank loans is adjusted to the current conditions.

Repayment is made in minimum installments of € 105, beginning 18 months after the last payment. If you receive BAföG and a bank loan, the bank loan is payable first. As with BAföG, you can pay off your bank loan early; however, without any discount. KfW itself is responsible for loan recovery.

Ask us for more information or visit the KfW website in English here: