Repay the German State Funding in monthly installments
Many students have to rely on German State Funding to fund all or part of their studies. However, this is not a financial grant, but an interest-free loan that has to be repaid later. All former students who have received German State Funding to finance their living expenses or their study costs will receive a payment notice about 4 to 5 years after completing their studies, asking them to repay the German State Funding in monthly installments. The amount of these rates is determined individually, but must be at least USD 105. Alternatively, it is also possible to repay the German State Funding in one amount. Anyone who decides to do this must apply separately.
Loan can be set individually and largely adapted to personal requirements
A one-time German State Funding repayment can be financed with your own as well as with external funds. The procedure for debt financing is then roughly the same as rescheduling. Here, an older loan is replaced by a newer and lower-interest loan. In addition to a normal installment loan, there is also a special loan to replace the German State Funding. This is usually available for monetary amounts between USD 1,000 and USD 50,000 and must be repaid in monthly installments. With an immediate German State Funding replacement, savings of up to 50% of the total amount are possible . The monthly installments for the loan can be set individually and largely adapted to personal requirements. The same applies to the term.
Before deciding on a loan to replace the German State Funding, a detailed comparison of the conditions of the individual providers should always be made. This can easily be done on the Internet. A loan calculator is often also available there. Here, the interested party only has to enter the desired amount of money, the term and the monthly installment amount and then receives an individual offer.
Only when it is clear that the loan to replace the German State Funding can really save money should you apply for it. The most important requirement for obtaining such a loan is a good credit rating. Above all, there should be no negative Credit burea entries. After approval, the loan is paid out relatively quickly. Subsequently, an immediate German State Funding replacement is possible.