German universities are usually free for students. Granting student loans and grants is seen as a means to pave the way for higher education for children whose parents can not afford to pay for their children's education otherwise. The federal law governing student loans and grants is called " BundesausbildungsfÃÆ'¶rderungsgesetz " (Federal Training Assistance Act) or "BAfÃÆ'¶G" ['ba: foek] for the short term, and loans, grants, and combinations are usually referred to simply as" BAfÃÆ'¶G "by students (as in" I am receiving BAfÃÆ'¶G "). Eligible groups include high school students, full-time students, second-line education students (ie, those who start studying after being in the workforce), and school students for professional training.
Video Student financial aid (Germany)
Eligibility depends on parental income
Eligibility for student loans (usually) depends on parental income, because parents are required by law to finance their children's education (including higher education), and therefore students can theoretically demand their parents for funds for their education (though this is rarely done for obvious reasons). For low-income families, BAfÃÆ'¶G loans take over when these obligations can not be met by parents.
Loan BAfÃÆ'¶G is usually given half as a zero interest loan (which will be paid only after the recipient exceeds a certain income level after graduation) and half as grant money for the student. High school students get the full amount as grant money if they qualify. The current maximum number per month (for students) is EUR 735.00 (2017). For every child under 10 years of age, living in a student's household, an additional EUR 130,00 can be requested. This can be reduced gradually if student or parent income or student assets exceed a certain amount. Thus the amount paid may be lower than the maximum amount, down to EUR 10 per month if the calculation returns that amount. Although low numbers may seem insignificant, they benefit students as eligibility for BAfÃÆ'¶G loans (even at the minimum level) to make students eligible for other benefits such as a cut-rate phone service or waiver of public television license fees.
Generally, BAfÃÆ'¶G loans are independent of student achievement or grade for two years. Thereafter, certain minimum grade levels must be met and evidence of participation is required to remain eligible. Study subject changes are allowed once for the first two years without becoming unqualified. For university studies, each field of study has a predetermined maximum learning duration (usually around five years), after which the student becomes unqualified for BAfÃÆ'¶G. Further funds may be granted as low interest loans for two more years if certain criteria (such as a reasonable likelihood that the student will graduate during that time) are met.
To qualify for BAföG, one must generally become a German citizen or permanent resident and/or have lived in Germany for five years in a row. There are some exceptions.
Generally, BAfÃÆ'¶G payments are limited to 10,000 EUR, even if the amount received is greater than that. Quick payments can even result in a reduced total.
In addition to BAfÃÆ'¶G you can also finance your studies with Bildungskredit from KfW, Bildungsfonds, or Scholarships. However, in many cases to qualify for a personal loan, a person must have German citizenship, have EU citizenship and have lived in Germany for three consecutive years, or have graduated from German high school.
Maps Student financial aid (Germany)
Feasibility regardless of parent revenue
In some cases, especially if students have worked full time for several years before returning to student status, the feasibility of BAfÃÆ'¶G is calculated independently of parental income, because the parental obligation to finance their children's education ends after the children enter full-time workers time. In such cases, only students' incomes and assets are consulted to meet the requirements and calculations of the number of BAfÃÆ'¶G.
References
External links
- Official BAfÃÆ'¶G website (Germany)
- Official BAfÃÆ'¶G (English) website
Source of the article : Wikipedia
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