Education Loan to Study in Germany for Indian Student
Secured Loan
Processing Fee
Living Cost Funding
Unsecured Loan
Upto Cost of Education
1 % – 2 %
Yes
Up to 80 Lac
Margin
Loan Tenure
Early Payment Allowed
Early Payment Charges
Nil
Up to 12 Years
Yes*
No
Secured Loan
Processing Fee
Living Cost Funding
Unsecured Loan
Upto Cost of Education
1 % – 2 %
Yes
Up to 80 Lac
Margin
Loan Tenure
Early Payment Allowed
Early Payment Charges
Nil
Up to 12 Years
Yes*
No
Secured Loan
Processing Fee
Living Cost Funding
Unsecured Loan
Upto Cost of Education
1 % – 2 %
Yes
Up to 80 Lac
Margin
Loan Tenure
Early Payment Allowed
Early Payment Charges
Nil
Up to 12 Years
Yes*
No
Secured Loan
Processing Fee
Living Cost Funding
Unsecured Loan
Upto Cost of Education
1 % – 2 %
Yes
Up to 80 Lac
Margin
Loan Tenure
Early Payment Allowed
Early Payment Charges
Nil
Up to 12 Years
Yes*
No
International Student Loan GERMANY
Germany offering high quality education at lower cost or even lower tuition fee as compared to other countries. For studying in Germany, student loans become the bridge to fulfil the gap between available funds and program cost. It helps those aspirants who want to study in famous europian countries but struggling due to financial issues. Applying for a loan to study in Germany has become an effortless task as everyone can apply and fulfil their dreams to study in Germany.
Documents Required For Study Loan GERMANY
For studying in Germany you will need to provide some documents . Here, are some important documents which the student must required are;
● Indications of Acceptance – An official letter provided by the university, which confirms that the student is accepted as a university student in the German university .
● Loan Proposal – Application form is required by the lender, It’s the lender’s responsibility to fill that form completely and accurately .
● Academic Documents – Provide Academic certificates related to your university achievements.
● Recognition – Required accurate ID documents like passport.
● Proof of Residence – Documents which shows what is your current location and where you currently live.
● Financial Situation- Your guarantor’s income and your personal financial status is required depending on the type of the secured and unsecured loan.
● Statement of Bank – Showing lender financial history through passbook and bank statement.
Expenses Covered Under The GERMANY Education loan
Germany publicly finalized universities’ charges or not charged any tuition fee . However, the budget for other expenses associated with
study in Germany including living expenditure, admission fee and housing cost which must be paid in each semester. Students must be aware that the loan doesn’t pay for the personal expenses. It only provides the loan related to the university programs. Additionally, the corresponding universities offer the bill by showing the cost and total needed to complete the course . These loan including the following cost.
Expenses
- Cost of Rent or on-campus housing cost.
- Electrician, water and internet bill.
- Transportation fee.
Types Of Loans Available For Study Abroad GERMANY
It offers five basic educational loans for international students. To understand the loans and their criteria let’s discuss these in depth with us.
- Educational Loan
- Public School Loan
- Bank Loan
- International Loan
- . Scholarship Loan
- Educational loan
Educational loan (Bildungskredit) is a public loan program . It helps to lower the interest rate, so that you do not depend on your father’s income.
- Public School Loan
Public loan (Bundesausbildungsförderungsgesetz) this loan is needed for grant and loan based programs available for both German and international loan enrollment full time programs at acknowledged universities in Germany.
- Bank loan
Bank loan required condition and interest rate thus it’s important to compare cost to get the greatest deal.
- International Loan
These loans are provided by the students who studied abroad. Its conditions and terms change widely, so make sure to do proper research. Although, consider factors like interest rate and check if the loan can be used in living expenses or tuition fee or not.
- Scholarship Loan
- (DAAD)
Important Criteria
- Complete bachelor’s degree in last six year.
- Required two years of work experience.
semesters in the university. Provide financial support for the international students and required stipend amount about 49,000 Euro.
Cost To Study Abroad in the GERMANY
The cost to study abroad in Germany can be divided into two main categories such as tuition fee and living expenses. Here are some valuable points which estimate the overall cost.
● Tuition fee in private university
As private universities receive their funding from private institute. Some prominent university are as per followed by.
1) Heidelberg university – €30,706 to €31,948
2) Technical university of Munich – €90 to €138
3) Frie university at berlin – €3,800
4) University of Freiburg – €1661
5) Ludwig – Maximilians university Munich- €100 to €200
.
● Tuition fee in Public university
Public universities receive minimal fees from the international students. Some prominent university are as per followed by.
1. University of Mannheim – €1500.
2. University of Bremen – No tuition fee.
3. University of Stuttgart – €1500
4. University of Hamburg – €335
5. University of cologne – €933
● Living Cost
The cost of living in Germany will depend on your lifestyle and city choices. Here are some estimates for monthly living expenses;
1. Food expenses- €170 /month.
2. Transportation Cost- €25 to €200 /month.
3. on/off campus Accommodation cost- On campus: 250/month and off campus €365 – €390 /month.
4. Utility expenses – €100-200 / month.
Additional Expenses
● Health care coverage – International students require health insurance to acquire a visa.
● Visa fee – for studying in Germany visa fee must be required.
● Transportation cost – Include in your travel cost the price of airfare and other charges.
● Academic material – Budget of notebooks, supplies and other course material.
Options for Financial Aid;
● Scholarship – Students must research for the scholarship offered by the German government , private organization and universities to help
reduce the financial stress of the student.
Example- Heinrich Böll Foundation Scholarship , DAAD Scholarship, Erasmus Scholarship, Konrad Adenauer Stiftung Scholarship.
● Part time Job – International students required to work 24 hours to cover some living expenses.
Example- On and off campus job.
i) On campus – Research assistant , tutorial assistant and library supervisor.
ii) Off campus – Waiter, cashier and bartender.
Note – The earnings for a part time job start from 467 per month. Therefore, by considering living and academic fees carefully you can create a sensible budget plan for studying abroad. Remined to explore opportunities related to scholarship €100-200€335€390 /month.
Tips For Choosing The Best Education Loan
● Determined Your Loan Amount
Carefully analysed all your expenses like tuition fee, living expenses and travelling cost.
● Eligibility Requirement
Study different lenders and their eligibility criteria these are based on the factors like creditworthiness, nationality and course study.
● Payment
Be aware of origination cost and processing fee which is associated with the loan.
● Benefits of Taking Loan
Lenders provide benefits like interest rate ( Discount) for unemployed protections and good grades.
● Adaptability
Choosing the loans that allows the features like forbearance which reduces the payment in the temporary bases during the time of financial hardship.
● Don’t accelerate the process
Take your valuable time in the research and compare the loan options cautiously.
Why Choose Fund2Edu ?
It acts as a marketplace which connects you to the multiple lenders on a single platform. Assist in saving money and your precious time or efforts for applying to the different banks as well as non banking financial companies. Also, Suggesting the loan with competitive interest rate which helps to make borrowing more affordable in the longer period of time. You can apply for a loan through an online method without
visiting any physical branches. Throughout the loan process Fund2Edu takes pride in its client service, offering consultants for a better understanding regarding loans.
Frequently Asked Questions For Student Loan In GERMANY
You get a Student loan to Study in Germany, though banks which offer Secured loan (low interest rate) with cosigner and unsecured loans (high
interest rate) without cosigner.
The amount of loan which you get from Germany, depends on the lender or whether the loans are Secured & Unsecured. A Secured loan offers around $150L While Unsecured loan offers around $75L.
It depends on the lenders, whether the loans are secured or unsecured. As,Unsecured loan might have a repayment period between 5-10 years $
Secured loan might have a repayment period between 10-15 years.
Yes, It is possible to get an educational loan to study in Germany without a cosigner.
Fun2edu helps you in offering the loan to Study in Germany without a Cosigner.It guides you in suggesting the loan with competitive interest rate
and helps in making the borrowers more affordable in longer time duration.