Loan from the Student Union
The Studentenwerk Schleswig-Holstein has set up a loan fund from its own resources with the purpose of enabling you to begin, continue and complete your studies in the event of a financial emergency by granting interest-free loans for a limited period of time.
How do I apply for a loan from the Studentenwerk?
Information on the loan fund and application documents are available at the Student Life Counselling Centre. In a conversation with you, we will clarify whether you meet the requirements for a loan and whether there are other possibilities for financing.
Who decides on the granting of loans?
The granting of loans is the responsibility of the management of the Studentenwerk Schleswig-Holstein. The management uses an allocation committee, which prepares the decision and consists of four members to be appointed by the executive board of the Studentenwerk (at least two of whom must be students). The committee usually meets once a month. It discusses the applications received and submits a recommendation on the duration and amount of the loan to the management. Loans are granted on the basis of guidelines. There is no legal entitlement to benefits from the loan fund.
Is security required?
A directly enforceable guarantee must be provided to secure repayment. Only persons with a regular income that enables repayment in the contractually stipulated instalments and who are resident in Germany are eligible as guarantors.
Overview
Who can apply for the loan?
You can apply for the loan if
- you are in a financial emergency because your BAföG application is still being processed
- there are no other sources of money that you can use to bridge the waiting period. E.g. your own savings, private loans from family or friends, ...
How much can the loan be?
You can apply for a one-time loan of either 1000 euros or 2000 euros. A subsequent application in the same semester is not possible.
The loan is processed and paid out in October, November, December (winter semester) and April, May and June (summer semester). You can also submit your application beforehand.
How and when does the loan have to be repaid?
The BAföG back payment is automatically repaid to the loan fund by the Office for Student Aid via a declaration of assignment. If you do not receive BAföG or if the additional payment is less than the amount of the loan, the difference will be repaid by you in instalments after you have completed your studies at the latest. Full repayment is possible at any time. The loan is interest-free.
Who can apply for the loan?
The loan can be granted for a maximum of six months during the course of studies,
- in an unforeseen emergency situation through no fault of their own, in which no (more) financing alternatives are available
- and if this has a lasting effect on the studies.
The circumstances must be short-term and exceptional; the financing of studies must be secured.
How much can the loan be?
The amount of funding is calculated on the basis of your financial situation. The maximum rate possible is based on the BAföG.
How and when must the loan be repaid?
Repayment of the loan begins six months after the end of your studies and is repaid in instalments based on the BAföG. You can repay the loan in full at any time. The loan is interest-free.
The Studentenwerk SH also offers its own graduation loan. You can find out more about this on our graduation page.
Contact persons
