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Financing studies: the basis

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Credit, loan or scholarship: With the right student financing, you can create the best possible foundation for studying and starting your career.

Lawyers, engineers or doctors - specialists with academic degrees are in high demand on the job market. If you are interested in studying, you need to find a place at university and then find out how to finance your studies. If BAföG is not an option, there are other options.

These include government grants, loans or scholarships. Which study financing is suitable or advisable often depends on the individual case. In order to plan the financing of studies, the individual needs must be determined in forex Exness. In addition to the costs of housing or residence halls and living expenses, learning materials should be taken into account.

Study financing for young students

First-year students and undergraduates have the option of receiving financial support from various sources. Age is also a decisive factor:

    There is entitlement to child benefit until the age of 25.
    In case of family conflicts, students can apply to receive the child benefit themselves.

If there is no entitlement to BAf, this is usually due to the parents' income. Therefore, the parents are obliged to contribute to the costs of the children's education. In fact, most students finance their studies through the support of their parents.

    Support before BAf: Support is denied if parents can bear the costs.
    The support is independent of the career choice, which children decide on themselves.
    When studying, the support is paid for the duration of the standard period of study.
    The amount of support depends on the parents' income.

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Scholarships: Support for gifted students

Scholarships are another option for financing studies. They are offered by foundations, funding agencies and private companies - and there is generally no repayment. Nevertheless, only a few students consider a scholarship. This is mainly due to the selection and application process, for which the requirements and criteria vary depending on the institution.

    As a rule, outstanding, academic performance is required.
    Qualifications are demonstrated by transcripts, letters of recommendation and interviews.
    Also significant are social commitment and personal background.
    Many foundations have an ideological orientation to which scholarship holders commit themselves.
    There is no entitlement. Therefore, scholarships are overall unsafe for financing studies.

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