Under certain circumstances may postpone the repayment for a further maximum of ten years. Reimbursement Bafol: How much Bafol must I repay? You have to be able to afford your life – when studying it looks similar. In some cases, life does not go as you think. What is the maximum Bafol that I have to repay?
The student loan is a support measure that students can use under certain conditions by the federal government. At the end of the study half of the sum has to be paid back – without interest. Some recipients of Bafol will be given even more, as they have to repay a maximum of 10000 EUR. Those who do not earn enough can postpone it, those who start earlier or pay back all at once can make a discount.
The Bafol procedure is complex. You can never know in advance if and at what altitude you will be transported. However, the computers from Bafol allow a first evaluation. For most, the amount depends primarily on the salary of the parent or guardian. If you make more than 1.605 EUR per month net income (from WS 2016/17: 1.715 EUR), deductions will be made.
Personal savings of 5,200 EUR or more (from winter semester 2016/17: 7,500 EUR) will be credited, student work of 4,880 EUR or more (from winter semester 2016/17: 5,400 EUR) will be credited. Some of the funding is considered income, others are included only from 300 EUR per calendar month in the calculation. Almost a third of students receive Bafol – an average of 448 EUR per year.
Money from application
That is 670 EUR for students who have their own apartment and will increase from the WS 2016/17 to 735 EUR. Those who live with their legal guardians at home receive a maximum of € 495 per calendar month; from WS 2016/17, this amount will increase to a maximum of EUR 537. The application should ideally be made immediately after receiving admission to the degree program.
If successful, you will receive the money from the application month, at the latest from the first year. Where appropriate, an informal request will be sufficient to start the study, the other documents should be submitted swiftly. If the Studierendenwerk fails to examine the application before the start of the course, the open monthly installments will be paid later. The application takes place at the student union of the own university.
Bafol is usually granted for one year. You may not be over 30 years of age to attend the Bachelor’s degree in the Bachelor’s degree, but the age limit is 35 years for the Master’s degree in Master’s degree. Bafol can be applied for a bridging month between bachelor’s and master’s programs. You have to apply for the Masters course yourself.
It does not matter if you have already earned a BA in your undergraduate degree or how long you have spent on your undergraduate degree.