Amt für Ausbildungsförderung
Two types of loans
- The loan is provided without any guarantees and without an administration fee.
- The repayment of the loan takes place by direct debit. The loan must have been repaid within 12 months. That is to say, repayment must take place four months after the disbursement with minimum instalments of EUR 50. Repayment may also take place in the form of a lump sum or larger instalments.
Applying and disbursement
As the Studierendenwerk provides security to the savings bank, a counter-guarantee from a German citizen must be provided to guarantee the loan repayment; this person may not be older than 65. Foreign guarantors are only recognised if they have their permanent place of residence in the Federal Republic of Germany.
The security must be submitted in a formal declaration – and the guarantor’s signature must be verified by a seal-bearing authority or by the person processing the case at the Studierendenwerk. Seal-bearing authorities are notaries public or local authority, state or federal offices. Any other verification of signatures will not be recognised.
Each guarantor must have a regular income, which at least corresponds to the amount that matches the allowances set in Section 25 of the §25 BAföG Act at the time when the application is made. Evidence of this must be submitted with the application for the loan (salary slips or notification of income tax).