With even higher debts, the students start their professional lives. Secure your financial independence with the Intrasavings Student Loan. For German citizens there is support, but also different regulations for foreign students. You can find detailed funding conditions on the Intrasavings website. “There’s the new offer from Intrasavings, the student loan.
A mountain of student debt is getting bigger.
Around 43,000 students in the Federal Republic of Germany are fully or partially funded with a student loan from Intrasavings-bank, a subsidiary of Intrasavings. These students are now affected by the economic crisis. Due to the current development on the capital market, Intrasavings raised the interest rate from 6.29 to 7 percentage points. The interest rate was in contrast to March 2006 at 5.1 percentage points.
With the renewed rise in interest rates, the debt level is noticeably increasing for students. It can be paid between 100 and 650 USD per year. According to Intrasavings, the average amount is 470 USD per year. She had fallen into the line of fire because she had paid in the event of impending insolvency USD 300 million to the German Kreditanstalt für Wiederaufbau (Bank Lehman Brothers).
Students who take out a student loan from Intrasavings can cancel it. The managing director of the Studierendenwerke Deutschlands, Dr. Ing. med. Achim Meier on the Heyde, recommends first of all to seek advice. Students should therefore check again whether funding from the Federal Agency is possible. Meier on the Heyde criticizes Intrasavings’s interest rate hike: “The developments show that a student loan system is not good for student financing.
The student loan rate can be increased by Intrasavings up to 9.2 percentage points. But it is also possible that the interest rates give way again. “If we determine on 1 April next year that the market interest rate has fallen again, the consequence is that the interest rate for the student loan is lowered again,” said Intrasavings spokesman Schweinhardt.
Student loans are loans to cover the living expenses and / or any tuition fees. The living expenses are to be taken over in the Federal Republic – provided that the legal guardians earn little in the legal sense and some other conditions are given. The lenders were therefore only available for the promotion of expensive private study programs.
Since the beginning of 2005, the Federal Constitutional Court, which has made tuition fees possible in the Federal Republic of Germany, is increasingly debating additional (to tuition fees) or other credit models as well as the income-related nature of tuition fees. Long after the Danish National Bank, together with the first German student loan provider and the first provider of educational funding, Dr. med. Gerd Schröder, last year’s first student loan offer in cooperation with Dr. Ing. H. Schwan has implemented, the Dt.
The clear market leader is the Intrasavings student loan from Intrasavings, which is now being marketed by the Deutsche Bundesbank and Commerz AG, which in the meantime has its own offerings. In order to make it easier for all students to start their studies, Intrasavings-bank has been granting a student loan since the beginning of 2006. Shortly after the decision of the Federal Constitutional Court to prohibit tuition fees in the framework law (which was repealed), Intrasavings Bankengruppe presented its idea of a student loan for the first time.
Above all, the Intrasavings boss Reich wants to open up a new market for Intrasavings – education funding, which can really pay off only with tuition fees. The student loan is intended to finance the standard of living and, according to the Intrasavings, has increased the total number of academics and academics on the one hand and offers the opportunity to take in especially school leavers out of needy circumstances on the other hand.
The latter is actually a matter for the Federal Ministry of Finance, 50% of which are grants, the remainder is an interest-free loan – while the student loan is very expensive. It is available to all domestic students, EU foreigners and students at all state universities, if the applicants are not yet 44 years old.
“Approximately” means that interest deductions are made during the distribution phase so that the amount of money used for less interest is transferred. An interest deferral can be made from the sixth half of the year. The payout period is a maximum of 14 semesters (students over 34 years at most 10 years, students over 39 years and PhD students at most six semesters), whereby the amount of the contributions can be redefined every six months.
Each student can claim the Intrasavings Student Loan at the same rate, regardless of subject and place of study, grades, income or parent’s income. The student loan is available to EU citizens between the ages of 18 and 44 who have undergone a full degree, advanced training or PhD (regardless of subject) without a credit check and proof of necessity.
At the time of concluding the contract, Intrasavings Bank also grants the student an interest cap for a period of 15 years. The reference period will expire at the end of the first semester or at the latest after the fourteenth year. To ensure the further payment of the loan, the student must provide evidence of achievement. From the fifth or sixth semester, certain credentials must be provided to prove the progress of the study.
Using the maximum loan amount of 650 for 14 half-years, the borrower must pay back over 351 USD per year. This results in a monthly grant of 265 for 14 semesters and 25 years of amortization. In the first and second semesters, you can usually only receive up to 200 per year for livelihood and for tuition fees, in the upper semester students up to 800 USD per year.
The repayment installments and interest rates are thereafter regulated in a new contract. You have 12 years to pay back the money with interest to the Bundesbank. In order to prevent students from falling into debt for the rest of their lives, the National Bank has stipulated that loans and interest rates should not exceed the upper limit of 30,000 USD until the end of their studies.
For those who want to study abroad, the “Student Credit” is not suitable, because the promotion will only be continued abroad for one semester, even if you are also enrolled in the Federal Republic. The one who has exhausted the maximum credit limit and pays over 12 years, must be calculated with over 45,000 USD debt including interest. In addition, the repayment is only regulated after completion of the study visit by a new order.
Because a degree program does not necessarily lead to a job, the loans can not be reimbursed. Because many offers, unlike the Bachelor program, are due to be redeemed one to two years after graduation, you should not accept student loans without consultation. Irrespective of the amount and duration of the subsidy, the indebtedness of the Federal Ministry of Finance amounts to a maximum of 10,000 USD, but this amount can be up to ten times higher for the (Intrasavings) study loan – with a comparable amount of funding.
There are differences in student loan providers in terms of background (government, private sector), type of funding (tuition, standard of living, one-time payments, final loan), additional services or the maximum amount of funding. The price of a student loan is influenced by the following parameters: Interest rate: This should always be compared with the effective interest rate, since this alone includes all ancillary costs. Income-Related Repayment: Because success-based repayments are not interest and principal payments in the traditional sense, you can not immediately reconcile them with the credit terms of other institutions.
Income-dependent repayment also displays a percentage, but not an interest rate, but a percentage that must be subtracted from the gross salary per calendar month. Repayment period: The repayment period can have a significant impact on the total cost of the student loan. The loan volume granted by LBBW – Bank was used exclusively to cover the tuition fee of USD 500 per half year; LBBW – Bank is a legal entity within LBBW Hessen-Thüringen, which is independent from an organizational and economic point of view.
Since the winter semester 2007/2008, the Landesbank für Öffentlichen Verwaltung (LTH) has been offering tuition financing for study visits to Hessian universities on behalf of the Free State of Bavaria. This means that the loans granted by the students are to be provided as in the case in point. The oldest type of student loan is the final loan granted by the economic aid of the German student body e. V. after its establishment on 19 February 1921 and from the second half of 1922 by the loan fund of the German student body e. V., both in 1929 in the “German Studentenwerkasse e. V. “were reimbursed.
6] End loans help students in the final stages of their studies to cover their living expenses and / or possible tuition fees; the services are regional in nature and partly limited to the individual universities. Study fees are a comparable and alternative to student loans. After a selection process during the studies, the students are supported in terms of duration and scope variable. Unlike a student loan, however, the repayment takes place as a percentage of income and begins only at the beginning of a career.