By no means all students have parents with a corresponding cash fortune to pay for the not-so-small study fees. Therefore, many students rely on a loan for students without income. Normally, banks also require the corresponding collateral in the form of a fixed income or a guarantor for a loan. However, most students can not offer such collateral, because the loan is not needed for a new TV, but only for further education.
This has already been recognized by many banks and grants a loan for students without income. As a rule, the loan amount amounts to a maximum of 5000 euros with not particularly favorable conditions. Financed by KfW Bank, the loan amount can be higher. The repayment modality and purpose are strictly regulated and the interest due to the risk is quite high.
What are the conditions for a loan for students without income?
Loans for students without income are granted through various banks, but also through the state-owned KfW Bank. Unlike a purchase loan, the loan amount is not paid once, but in monthly installments so that the student can finance his studies without a side job. After all, good education is also the mainstay of every country. Without a part-time job, the student can concentrate fully on his studies and thus achieve the degree faster. The history of the student, who studies forever, is also widely known to the banks.
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The student loan through KfW Bank is a pure loan for students without income. The financial circumstances of the student including the parents play no role in the award. Unlike a normal bank, lending rates through KfW Bank are quite favorable for students. As a result, the repayment is not delayed by a high interest burden and there are no collateral required.
Depending on your needs, the loan for students may vary in monthly installments. The monthly loan amount can range between 100 and 650 euros. The credit for students without income does not have to be paid immediately after graduation. The repayment grace period ranges from 2 to 4 years, so that the student has enough time to successfully gain a foothold in professional life.