The corona pandemic confronts many students with financial challenges. Two thirds of the students work while studying. Many of them have lost their jobs due to the current corona pandemic.
For such cases, the Federal Ministry of Education and Research (BMBF) provides bridging aid in the form of a loan of max. 650,00 € per month.
Eligible are students of all state-recognised universities in Germany aged between 18 and 44 years who meet one of the following requirements:
- German citizens with domestic registration address
- Family members of a German citizen who are staying in Germany with him/her and are registered her
- EU citizens and citizens of third countries who are legally resident in Germany and are registered here
- Family members of such an EU citizen who are staying in Germany with him/her and are registered here
- Educational residents and registered in Germany
The monthly payout amounts are between 100,00 € and € 650,00 as requested.
- Applications to be submitted from 08.05.2020; first payment from 01.06.2020
- Unlimited duration
- Applications to be submitted from 01.06.2020; first payment from 01.07.2020
- Term limited until 31.03.2021
The loan is interest-free until 31.03.2021. The Federal Ministry of Education and Research (BMBF) will assume the interest incurred for this period.
Thereafter, the regular interest rate of the KfW Bank will apply from 01.04.2021, which is fixed for six months at a time.
The usual repayment modalities of KfW student loans apply.
The grace period, six to 23 months after the disbursement phase, is a repayment-free period.
Due to the measures in connection with the corona pandemic, we are currently not available as a distribution partner for initial applications.
Further information can be found on the website of KfW-Bank.