Anyone who thinks of studying abroad will often wonder how to finance it. Not everyone receives support from their parents’ home and can afford to study abroad with their own funds. The only alternative that still exists is to take out a loan to study abroad in order to have the necessary resources.
This loan comes from the state and is offered with favorable interest rates.
This loan for study abroad must be paid off only after graduation. Another option is to have the house bank finance a loan to study abroad. The conditions are also very good here, so that only little effort has to be made to obtain the credit for studying abroad. The student only has to prove that he has a place to study here and also has a place of study abroad.
In addition, the parents should act as guarantors to provide collateral, which the bank needs to obtain a loan to study abroad. This loan is usually awarded for one to two semesters abroad, so this is a small loan. The loan amount is transferred in monthly amounts to the applicant’s account so that he can pay all necessary bills.
Who receives a credit for studying abroad?
Not every student can take credit for study abroad. Private schools are not included in this loan, and students who do not have collateral often can not get credit from the bank. Students who are registered in Germany and study here can take out a loan at any time.
For this, only the necessary documents have to be submitted in order for a loan to be granted. Since the house bank arranges the loan to the KfW, the student should prepare in advance for the discussion and have all documents with it. Students who can only study part-time can not get a loan, this is only given to full-time students. The semester abroad must also be completed full-time in order to benefit from a loan.