Obtaining loans and Kreditrechner in Germany, is just like obtaining them anywhere else in the world. There are applications to fill out and qualifications to meet. Of course, the standards and quality of the loans do vary just like other parts of the world.
Student Loans in Germany
Germany believes in allowing their citizens to achieve their higher education goals. In order to do this there are certain programs that are made available to the citizens. Typically student loans are based upon the parents’ income; since legally it is their obligation to fund their child’s education. However, once the child enters the work force then the income requirements are only dependent upon the student’s assets and income. Depending on the income, the student shall receive a certain amount euros every month to help fund their education; there are also other government benefits received as well, such as discounted telephone rates or having their public television license fees waived. Half of the loans that are received are given out as zero interest rate loans and then the remainder is given out as grants. This allows children in lower income families the opportunity to finance their education.
Germany is no different than any other country when it comes to financing education loans and Tagesgeldkonto. Many countries around the globe have a belief that education is to come first. In Germany students are required to maintain their GPA at a certain level in order to continue receiving these loans; and they are only allowed to change their major once during the first two years to remain qualified. These rules and regulations are put into effect to make sure that the students will take their education seriously and put forth the effort to become successful.