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Studentenwerk Augsburg

Financing studies

Study loans, Work and Study, Work regulations, Financing studies

Loans


I. End-of-study loan

The Loan association of the Bavarian Studentenwerke (Darlehenskasse der Bayerischen Studentenwerke e.V.) offers an end-of-study loan to students who find themselves in a financial need in order to make their exam preparation easier and successful conclusion of their studies, financing their thesis research and the acquisition of the necessary study tools possible for them. This loan bears no interest within the first 5 years; afterwards a 3% interest applies. The following conditions have to be met:

1. Basic conditions
The loan can be awarded:
to students of universities and universities of applied sciences who fall under the responsibility of the studentenwerke;
preferentially for the last four semesters of the first degree study;
if the highest allowed duration of the federal financial aid for the particular major or the end-of-study financial aid was not exceeded by more than 2 semesters at the time of application;
to PhD and graduate students and/or to students studying for their second degree, for their 2 last study semesters;
for the necessary study tools (such as music instruments) or in order to finance the thesis-related research;
to students studying at a university abroad, if they had been enrolled at a Bavarian university for the duration of four semesters prior to application;


2. Purpose of the loan
The loan is granted only for study-related purposes.


3. Amount of the loan

The loan is disbursed in monthly installments, the amount of which corresponds with the student minimum financial needs rate laid down in the Federal Education and Training Assistance Act (read more under BAfög) - currently a maximum of 600,- € per month. In total, the loan may not exceed the amount of 12.500,- €.


4. Loan guarantee
The loan needs to be secured by directly enforceable guarantee or a bank guarantee in full amount. In stead of the guarantee, it is also possible to pledge securities or cede capital assurance.
The following persons may not provide the guarantee:
students
the spouse of the applicant
debtors of the "Darlehenskasse"
persons over 60
persons with insufficient income


5. Term of loan, Repayment, Administration fee, Interest
The maximum term of loan is 10 years. It begins on April 1st or October 1st preceding the disbursement of the first installment. If the student does not successfully finish his/her studies within 2, 5 years (5 semesters), the loan can be prematurely recalled to the end of the quarter upon a one month notice.
The repayment should begin in the 3rd year and may not begin later than in the 5th year of the term of loan. The loan must be repaid completely after the expiry of the 10 year term of loan. The monthly installments should amount to at least 110,- €. The borrower bears the 2% administration fee and the 3% interest rate applicable after the 5th year.


6. Application
You can apply for the loan by filling out an application form (obtainable at b!st) and submitting it personally to b!st, the advising center of the Studentenwerk Augsburg. You should notify b!st in writing after each semester, if the loan is further needed or not.


7. Decision making and disbursement

The Studentenwerk Augsburg decides whether the loan will be awarded or not. If the loan was approved, the student and the Studentenwerk Augsburg will conclude a formal contract of loan.
More information:
Studentenwerk Augsburg, b!st, Rudi Mengele, Eichleitnerstr. 30, 86159 Augsburg,
Tel: 0821/598-4926, Fax: 0821/598-4929, e-mail: bist@stw.uni-augsburg.de
Office hours: Mon-Wed 9 am-12 am and Thu 2 pm -4 pm



II. Bridge loan

In a limited scale, the Studentenwerk Augsburg can award a short-term loan free of interest to students who find themselves in a difficult life situation. The term of loan and the repayment plan are laid down in a special contract.
Information and application:
Studentenwerk Augsburg, b!st, Rudi Mengele, Eichleitnerstr. 30, 86159 Augsburg,
Tel: 0821/598-4926, Fax: 0821/598-4929, e-mail: bist@stw.uni-augsburg.de
Office hours: Mon-Wed 9 am-12 am and Thu 2 pm -4 pm

Note: It is also possible to apply for a an education loan ("Bildungskredit") at www.bva.bund.de.


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