Student jobs are becoming scarce
Many students or young people who seek academic education often do not know how they can finance their education in the future. Especially in recent years, when high tuition fees have been introduced in many federal states in Germany and student jobs are becoming scarce, many young people have repeatedly decided to leave the university and reorient themselves professionally. Student loans, which are offered by many different banking institutions across Germany, have been around for a number of years. More and more students and people who are interested in enrolling at a university are thinking about support from these loans and are always hoping for financial support. Depending on the bank, the terms and conditions of student loans are very different. The payout amount, interest rates or repayment times vary.
Loan also means debt
Every student or prospect should therefore get detailed advice beforehand and compare financial institutions. It should be borne in mind that a loan also means debt that must be repaid. What may sound incredibly tempting at first, and which is very helpful, can become a major burden in a few years. There are several alternatives to student loans that should be examined more closely. For example, there are scholarship programs for different fields of study and especially motivated people. Various companies offer scholarships for research groups and sometimes finance an entire course or a few semesters.
Every student should inquire about scholarships and have a look on the Internet to see if they meet the requirements. Funding through a scholarship is particularly appealing because it does not have to be paid back later. Many students always like to use the German state funding, which can be applied for quickly and easily. Applying for this financial support is associated with a lot of bureaucracy, but is often used by students. The student loan does not have to be paid back in full and, unlike a student loan, there is no interest.