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Es gibt viele gute Gründe, einen BAföG-Antrag zustellen. Die wichtigsten erläutern wird Dir hier.
We are offering you half of the amount for free! Really.
In life one rarely gets something for free. Yet this is the case for BAföG: if you receive BAföG, then the state really gives ypu half of it!
You get the other part as an interest-free loan. This means you have to pay it back later. The great advantage: unlinke other credits and loans, you only pay back the loan, without being charged for interest or interest rates.
No over-indebtedness because of your studies! Pay back max. € 10,010.
Of course you also owe the BAföG, namely the loan part indicated above, which you will have to repay later. If you get a lot of BAföG for a long time, a lot comes together. BAföG capped the repayment amount to € 10,010. This means that no matter how much BAföG loan you get, you only have to pay back a maximum of € 10,010.
Sounds like a lot? It is. However, compared to other loans, it is really manageable. Take a look at the example below.
Small amounts and the restitution only 5 years after graduation!
The repayment period only begins 5 years after the so-called maximum funding period. If you stay within the standard period of study and have no change of subject in the course of study, the maximum funding duration corresponds in most cases to your study duration.
So you have 5 years to find a job and first realize your dreams (apartment, car, travel ...).
Then you pay off your BAföG loan in manageable 77 monthly installments of 130 euros. If you apply for monthly installments of less than 130 euros due to low income, you are already debt free after 77 monthly installments if less than 10,010 euros have actually been repaid.
If you earn little in your job (general rule: less than € 1,200 per month), you can also postpone the repayment. If you are already a parent at this time, your child or children will also be taken into account.
If you earn well (and could maybe borrow something from your parents and grandparents), you can also repay the entire loan with a single payment. With this one-time payment you can save up to several thousand euros!
No other way of financing your studies offers you these regulations !
Even if the application is complicated and time-consuming: it is worth it!
There are many loans or credits for study financing. Yet the press, universities and the student associations agree on one point: one should always apply for BAföG first because of its unique conditions. You should only consider other products if the BAföG is excluded for you.
A comparison with a popular and frequently used loan shows why this is the case:
|monthly receipt of money in the account||650 €||650 €|
|funding duration (standard study time Bachelor)||6 semester = 36 months||6 semester = 36 months|
|total amount||23.400 €||23.400 €|
|thereof loans (repayable)||11.700 €||23.400 €|
|plus interest on the loan||0 €||rd. 16.800 €|
|total repayment||10.010 €||rd. 40.200 €|
|amount given to you (for free)||13.390 €||0 €|
|repayment begins after||60 months||18 bis 23 months|
BAföG: Abbreviation stands for [Bundesausbildungsförderungsgesetz] Federal Education Promotion Act. When we talk about the BAföGyou get, we mean the amount of money that you get into your account every month.
Loan [Darlehen]: form of debt financing. Meaning that you receive money from a third party and usually have to pay it back with compound interest after a specified time. In the everyday life usually used as a synonym for credit.
Maximum funding duration [Förderungshöchstdauer]: indicates how long you are eligible for funding and depends on the chosen subject of study. As a rule, this corresponds to the standard period of study. If you change your subject during your studies or if you need more time during your studies, it may happen that you have not yet completed your degree but are no longer eligible and therefore can no longer receive BAföG.
Exemption [Freibetrag]: the amount that you or your parents can earn without having their income credited to your BAföG.
Standard period of study [Regelstudienzeit]: number of semesters required to complete a full-time course. The standard period of study therefore varies from subject to subject.
Interest [Zins]: fee that you pay so that a third party can lend you money.