The Federal Ministry of Education and Research (BMBF) offers students all kinds of financial support so that there are no dropouts due to the pandemic.
#1: KfW STUDENT LOAN
This loan is aimed at people registered in Germany and studying at a German university. Since there are certain restrictions, KfW has provided a preliminary test with which you can check whether you can be a loan recipient. If so, you can apply for the interest-free loan from KfW by March 31, 2021. These are amounts of up to €650 per month, with the interest being paid by the BMBF. After the deadline, students must pay the applicable interest rate themselves. The repayment methods are very flexible and individually tailored. This means that no repayment has to be made until 23 months after the end of the loan. At least €20 must then be repaid per month, but the repayment may take a maximum of 25 years.
#2: BRIDGING HELP
This grant is intended to help all students who are enrolled at a German university and who can be proven to be in an emergency situation due to the pandemic. This also includes everyone who already receives financial aid, such as Bafög, or who is currently abroad. A pandemic-related emergency can arise from short-time work, the loss of a part-time job or the loss of family support. This assistance only applies to the period in which the emergency exists, which is now considered to be June to August 2020. During this time you can receive an amount of €100 to €500 per month, which must be applied for each month on the BMBF website. This amount does not then have to be repaid.
#3: ADDITIONAL EMERGENCY AID
If students still find themselves in an emergency situation after this assistance, they can apply for grants through student and student unions.
#4: BAFÖG
Since some exams, the start of the semester and other things have been postponed due to Corona, it has been ensured that Bafög recipients do not have to suffer any disadvantages. You can also apply for further assistance despite Bafög. As long as you continue to support society in systemically relevant sectors during the crisis, you will keep your Bafög funding. The chances of receiving higher funding also increase if parents earn less money due to the pandemic.
#5: CHANGED SOCIAL SECURITY CHARGES
In the period between March 1, 2020 and October 31, 2020, you can work 115 days instead of 70 days without paying social security contributions.
Did you run out of money because of Corona? You can find financial assistance here
