Germany Provides 6,470 Bulgarian Students Financial Assistance
Apart from the obvious threat of the coronavirus, students are also struggling to deal with the financial problems that the outbreak has created.
According to a survey Studying-in-Germany.org conducted, 90% of international students in Germany are financially affected because of Covid-19.
Around two-thirds of students in Germany work while studying, while the number is even higher for international students, where three-quarters of them are financially dependent on their part-time jobs.
And unfortunately as a result of lockdown, numerous students have lost their jobs because of many industries temporarily closing their business activities.
Federal Education Minister Anja Karliczek spoke about the issue and the measures that the Federal Education Ministry will be taking.
The Minister claimed that (BMBF) has announced that it will be providing financial assistance to students who have been affected by job losses, even those who are not eligible for BAföG, or other forms of income like scholarships or an Erasmus grants, will be supported.
According to the Federal Education Ministry, these students will have the possibility to apply for an “initially interest-free loan from KfW”.
The loan is available to international students applying from 1st of June 2020.
What this means is that students, as of June, will be able to apply for an interest-free loan up to €650, from KfW.
The Federal Education Ministry will also be providing the German National Association for Student Affairs (DSW), with a total of €100 million estimated for emergency funds in local student services. The money is eligible for those who are suffering from acute hardship and have no other form of support.
Dr Günther Bräunig, CEO of the KfW group claims that he is positive that the new measures will help all students who are financially affected by the coronavirus pandemic. He said that thanks to the loan’s interest-free phase, students will be able to proceed with their studies “even if their part-time work dries up or they receive less support from their parents, who are probably faced with similar difficulties.”
This financial crisis also includes 6,470 Bulgarian students, who make 12th largest number of international students in Germany, and will be able to benefit from this offer until March 2021, to be able to continue their studies.
The requirements and application form are here: Student Loan
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