Education loan and student loan
Financing studies through loans
Loans to finance studies are an option for those students who have no alternative through other financing options. One should resort to this to the smallest extent possible. There are offers from the state as well as from the private sector.
Education loan: state loan
An education loan is intended to support students and pupils in advanced phases of their education. It is a fixed-term, income-independent and low-interest loan that can be granted alongside or in addition to benefits under the Federal Training Assistance Act (BAföG). The Federal Office of Administration is responsible for awarding education loans.
You can find more information on the education loan in general on the website of the Federal Ministry of Education and Research and information on how to apply on the website of the Federal Office of Administration.
Student loan: private-sector loan
The terms student loan and student loan are used synonymously and stand for a loan that is intended to finance living expenses during studies and/or possibly other costs. Furthermore, there are so-called education funds where loans can also be applied for under special conditions to finance studies. The various loans are usually offered by banks or other institutions. It is therefore worthwhile to compare prices and conditions with different providers in order to find the right offer.