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The coronavirus crisis poses a financial challenge for many students. Two-thirds of German students and three-quarters of international students in Germany work in addition to studying. Many of them have lost their jobs because of the crisis, causing them financial difficulties. The German Federal Ministry of Education and Research, in cooperation with the “Kreditanstalt für Wiederaufbau” (KfW), will provide these students with an interim financial help.
Students will have the possibility to apply for an interest-free loan of up to EUR 650 per month. The student loans are offered from the beginning of May 2020 until 31 March 2021. The loan is also available to international students, who are particularly affected by the current crisis. They can receive the loan from July 2020 until March 2021.
Furthermore, the German ministry will provide the German National Association for Student Affairs (DSW) with EUR 100 milion for its local student services emergency fund. This money will assist students, who are suffering from particularly acute hardship and who do not have access to other forms of support.
The German Academic Exchange Service (DAAD), the German Rectors' Conference (HRK) and the DSW have welcomed the “bridging aid” provided by the ministry.
The BMBF page and the press release are available here.
The joint press statement of HRK, DAAD and DSW (in German)is available here.