It is in the self-interest of the students that they also complete their studies within the standard period of study. But not always succeeds. One reason for this is often the balancing act between the study on the one hand and the financial survival on the other hand, which is only possible by the additional income from student backup jobs. The danger that this will affect the degree course and the conclusion is protracted, is thereby great.
The term of the student loans
But on the other hand, whoever finances his studies through a student loan must also see that he completes his studies in a timely manner. Because the term of student loans is limited and at some point the loan must be repaid.
Thus, students are always exposed to a great deal of time and often just a financial pressure. Especially because of the writing of the diploma thesis at the end of the study, the students hardly get to earn some money. If the account is then empty, but the rent and other costs continue to run, help in these situations, the student services with a so-called graduation loan. However, the student organizations do not grant these loans themselves.
The student must contact the Loan Fund of the Student, which has established it in all federal states of the Federal Republic. The advantage of these loans is that they are completely interest-free. However, an administrative burden of 5% of the loan amount will be retained. As a loan, students can get between 9000,00 € and a maximum of 12000,00 €, which will be paid in a maximum period of 18 months. So the students receive monthly up to 750,00 € from the loan. With the repayment, students can wait up to 12 months after paying the last installment; Here the time can be used to get a job.
The period of granting the loan itself
Makes it clear that this is actually the last phase of the study. And that is one of the requirements for the award. In addition, students must be enrolled at a state university and pay a social contribution to the local Studentenwerk. And, of course, they have to prove their financial need to be able to actually receive the graduation loan. If you only need it to put a little money on the high ropes and otherwise get along financially very well, for the graduation loan is not intended. As an additional proof of need, students have to name a guarantor, who is also liable for the loan amount at the same time as the student.
And here is usually the problem of a graduation loan justified. Not everyone finds a person from his environment who is willing to be available as a guarantor. Because a guarantor sticks with his own money for the graduation loan. A risk that should not be underestimated. Nevertheless, a graduate loan is a good support for students in the final phase of their studies. Because they can concentrate on their exams and do not have to worry about how they pay their rent or get the fridge full. And the time until the beginning of the repayment of the loan should probably be enough to get a good final grade with a first job.