Germany is one of the financial hub for Europe and attracts lot of international students every year. 13% of students in Germany are international students so they contribute a lot in the Germany’s economy.Main factors that attract international students to Germany are free tuition fees, awesome reputed professors and centuries old car manufacturing industry that provides lots of jobs to new grads.
Student Loans for struggling students
Germany’s KfW state development bank has proposed interest free student loans to students.This loan package is not only provided to German citizen students but also to international students who are stuggling to pay their rents and living expenses. This kind of package by EU education minister is really a good relief to international students studying in Germany.This scheme is not completely interest free because the if you take loan in July then it will not have interest till Next March 2021. But after that the interest will start at 4% rate so once you complete the course and find part time job you will be able to repay the debt.
Who benefited from this Germany loan scheme in pandemic?
International students from India,Tunisia , Iran, Bangladesh and syria got benefit of this scheme.They got the preferred amount after local German students got the money.
Who is not benefited from Germany loan scheme in pandemic?
Many international students are not eligible for this scheme because its difficult for government to support all the students at this point. So they are considering only international students who are in their first 10 semesters education or their course tenure is for 5 years.
How student associations are helping international students in Germany?
Different German universities have their student associations so they are working hard to provide accomodation, food and required essentials to struggling students in this difficult pandemic. Few student associations are spending funds allocated to them for festivals on to students who need them the most and some students are raising their own fundraising campaigns to support themselves.
This pandemic has taught the humanity to lot of people and governments are really helping out the international students in Europe so Germany really amazed with their loan scheme. This will keep international students in Germany safe and they can complete their courses without financial burden.
We think that every country should follow this approach.