Investing in the Future


Taking out a loan is one way of funding your ongoing studies or their final stages. As they will need to be paid back in full, sometimes with interest on top, it is not necessary advisable to fund the whole of your degree program just through loans. However, a student loan or Education Loan can be used to supplement other sources of funding, either partially or during certain phases of your studies.

It is important that you find out all there is to know about the various kinds of student loan and the terms on which they are offered before you opt for this way of financing your studies. One good way to get an initial idea is by taking the “Student Loan Test” created by the Centre for Higher Education (CHE), which compares various student loans with the help of assessment criteria.

CHE Student Loan Test

The CHE Student Loan Test provides tangible support in the form of information prepared in a structured way. Of course, the difficult decision on which loan is the right one (or whether a loan is even a good idea) is not something that can be made for you. By comparing many different pieces of detailed information, however, the CHE Student Loan Test allows you to make an up-to-date assessment of the market situation in light of your own personal requirements. It therefore provides interested current and prospective students in particular with a comparison tool and aid to decision-making as well as rendering the student loan market transparent for anyone who is interested.

The Studierendenwerk Bonn provides information and advice on a selection of loans. Two of these are listed here as examples.

Education Loans

The Education Loan is a low-interest loan provided by the federal government to students at an advanced or the final stage of their first or a subsequent degree. Regardless of their income and assets, it is paid out in EUR 100, EUR 200 or EUR 300 installments over a term of up to 24 months and can be combined with BAföG. Applications for Education Loans must be submitted in writing to the Federal Office of Administration directly.

Daka loans

The loan fund of the Studierendenwerke in North Rhine-Westphalia (Darlehenskasse, Daka) is a non-profit association comprising the state’s 12 Studierendenwerke. Daka offers an interest-free student loan that can be applied for at any stage during studies. It is mainly designed for students who are struggling financially.

Students can apply for a loan from Daka via Studierendenwerk Bonn. The amount and term of the loan will depend on a person’s individual needs. No interest is charged on Daka loans, only a one-off handling fee of 5 percent of the loan amount to cover administrative costs.

Contact information

Avatar Study Advisory and Counseling Service

Central Study Advisory and Counseling Service

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