What does BAföG mean?

As a rule, students always have a money problem. Even if you are employed as a working student, the prototype student is always broke. To prevent this problem, the state subsidizes its students with BAföG. What this expression is about and when you get this kind of funding is made clear below.

What this expression means

• BAföG is advertised under the Federal Training Assistance Act. Here the amount and the requirements are determined what the individual student gets from the state.
• It follows from this that the BAföG is not uniform and is calculated individually for each individual student. It should also be said that this funding is dependent on parents. This means that the higher the income or the wealth of the parents, the less or no BAföG you will receive.

The components that are relevant to BAföG

In the first part it was explained in more detail what BAföG means, in the second part the components that are relevant for this funding are discussed.

• First and foremost, when applying for BAföG, attention is paid to how your personal assets are. This means that you have to send a financial overview to the district office, which you can get free of charge from your house bank.


How do I apply for BAföG?

For many, financial support for studying and training is ...

• The rule here is that if you yourself have total assets over 5000 euros, you will have no chance of BAföG, building society savers and insurance companies also count.
• If you study abroad or have to pay for your own apartment, this may still turn out to be positive for you. Furthermore, parents must also disclose a financial overview.
• As already mentioned, the amount of funding varies from person to person. It may well be that you only get 50 euros a month. In the best case, you are entitled to 580 euros per month including all additional subsidies.
• BAföG is always an interest-free loan, which means you have to pay for the "credit"do not raise any additional capital. Usually you have to pay back half of the subsidy you received. The repayment starts five years after you received the funding for the last time.