Interest-free education loans for British students in Germany
The German government are providing financial support to British students in the form of interest-free loans.
During these times of pandemic, the German government is offering financial support for British students. Due to Covid-19, many students have lost their jobs which allowed them to finance their stay in Germany. According to official figures from Statista, three out of four foreign students in Germany work throughout their studies and have had their incomes seriously affected by the pandemic.
In this context, the German Minister of Education and Research, Anja Karliczek, has announced the creation of an interest-free education loan program, to ensure the continuity of their studies. According to information from MyGermanUniversity, a portal specialised in studies in Germany, almost 40,000 international students are enrolled in a German university, with a growing trend for the following years.
Stephan Paulini, co-founder of MyGermanUniversity, based in Hamburg, was previously director of the German Academic Exchange Service (DAAD) in Peru and knows very well the reality for international students in Germany. Stephan Paulini stresses the importance of this measure taken by the German government: "This will allow many British students to continue their studies and not be forced to return to their country because they do not have sufficient resources to cover their expenses."
British students will be able to access the education loan for up to 650 euros a month from June 1 2020.
Germany stands out as one of the preferred destinations for British students and ranks in the top 3 most popular country destinations British students according to the DAAD. The great interest in Germany among British students can be explained by its 400 universities, which offer more than 20,000 undergraduate and graduate programmes.
Furthermore, students do not need to speak German to study at the postgraduate level at a German university. There are more than 1,700 Master's programmes in English, with 69% of them charging no tuition fees, due to the economic subsidy offered by the German state.