How many BITS students take out bank loans

KfW Student Loan is intended to support students in the Corona crisis

Students can apply for an interest-free loan from KfW from the beginning of May. The interest-free loan has an amount of up to 650 euros per month. The loan can be applied for online without any red tape.

The corona pandemic poses financial challenges for many students. Two thirds of the students work alongside their studies. Many of them have lost their jobs as a result of the current corona pandemic. That confronts many with financial bottlenecks. The Federal Ministry of Education and Research (BMBF) provides bridging aid for such cases. Federal Minister of Education Anja Karliczek explains:

“Many students lost their student jobs in the wake of the corona pandemic. The affected students are faced with financial bottlenecks. A large number of students are gainfully employed alongside their studies. Around two thirds of all students work alongside their studies, and for foreign students it is even three quarters. For many of these students who have to compensate for lost income, BAföG funding can now be considered.

Currently, this also affects students who are not eligible for BAföG and who do not receive any other income such as a scholarship or a grant as an Erasmus student. If their earned income falls away, they are currently often faced with financial problems.

In the past few days I have received letters from students who have described their need to me in this exceptional situation. It is important to me that these affected students can now quickly receive bridging assistance. We must not allow the corona pandemic to force students to drop out or give up their studies.

Over the past few days, we have been intensively discussing possible solutions in the federal government and the coalition. I am pleased that today we can present a balanced concept for those affected. It takes into account that further help is necessary in this exceptional situation. At the same time, the financial burdens for future generations are taken into account.

Not all affected students can compensate their previous income with other work opportunities in the short term. These students now have the option of applying for an interest-free loan from the Kreditanstalt für Wiederaufbau (KfW) in the start-up phase.

In doing so, we rely on the long-standing KfW student loan, which will be made interest-free until March 31, 2021 in view of the likely longer crisis period. This applies both to new applicants who are added from May 8th, as well as to students who will receive outstanding loans between May 2020 and March 2021 during this period. For the currently particularly affected group of foreign students, we will open the student loan from July 2020 to March 2021.

Specifically: Students can apply for an interest-free loan from KfW from the beginning of May. The interest-free loan has an amount of up to 650 euros per month. The loan can be applied for online without any red tape. This is a fair, fast and effective offer for the students concerned. I am grateful to KfW for their support. This means that the affected students have a tried and tested instrument with which the bridging aid can quickly reach the affected students. In total, a loan volume of up to one billion euros can be activated.

In addition to the help from KfW, we will also provide the German Student Union with 100 million euros for the emergency aid fund of the student union on site. This money is intended to help those students who can be shown to be in particularly acute distress, who need immediate help and cannot avail themselves of any other support. I would like to extend my heartfelt thanks to all employees who are there for the students in the student unions across the country for their commitment.

This measure complements the initiatives already taken by the Federal Ministry of Education to support students in the current exceptional situation. We have already made a number of things easier for BAföG and scholarships from the organizations for the promotion of talented students. In this way we support previous BAföG recipients, but also especially the students who are now making new applications. The new aids are open to all other students. "

Dr. Günther Bräunig, CEO of KfW Bankengruppe, says: “With the student loan, KfW has been pursuing the goal of enabling university studies regardless of financial background and thus making an important contribution to educational equality in Germany since it was introduced in 2006. In difficult times, this support is more important than ever: all students who receive disbursements in the KfW student loan can start or continue their studies during the corona crisis thanks to the interest-free phase, even if part-time jobs are lost or less support from parents who may also be in trouble. "

Achim Meyer auf der Heyde, Secretary General of the German Student Union (DSW), explains: “We expressly welcome the fact that the Federal Government, specifically Ms. Karliczek, is providing emergency aid for students. For the implementation of this aid via the student unions, we will now quickly develop a procedure for the concrete implementation with the Federal Ministry of Education and Research. We are very confident that the help will reach the students concerned quickly. "


The KfW student loan is a tried and tested program by the Reconstruction Loan Corporation (KfW). Since 2006 it has offered students the opportunity to take in up to 650 euros per month. In principle, students from all state-recognized universities in Germany between the ages of 18 and 44 who meet one of the following requirements are eligible:

  • German citizens with a domestic registration address,
  • Family members of a German citizen who are staying with him in Germany and who are registered here,
  • EU citizens who have been legally resident in Germany for at least three years and who are registered here,
  • Family members of such an EU citizen who are staying with him in Germany and who are registered here,
  • Educational residents and registered in Germany.

For the bridging aid, the group of recipients of the classic KfW student loan will be extended for a limited period. Foreign students - i.e. third-country nationals and EU citizens who have only been in Germany for a short time - can take advantage of the interest-free loan in the start-up phase.

You can apply for the bridging aid in the form of the interest-free loan in the start-up phase from May 8, 2020 from KfW. Foreign students can apply from June 1, 2020. The tried and tested application procedure applies (more information: In principle, the general conditions of the KfW student loan apply with a maximum monthly payment of 650 euros. The reduced interest rate applies until March 31, 2021.

The usual repayment modalities for KfW student loans apply. The waiting phase, 6 to 23 months after the payment phase, is a grace period.

The funds for the emergency aid funds of the student services are given by them according to the usual strict regulations of the funds as non-repayable support to students in particularly acute emergency situations.