BAföG reform 2019 – Let’s talk about it!

You don’t talk about money? We do!

Find out more about BAföG – the proven financing for your studies – and the BAföG reform 2019 in our article.

You know exactly what, how and where you want to study? Now, at the latest, for many of you there are a few questions in the room: How do I get along during my studies? Can I afford the costs of studying at all? What financing options are there for me?

For us it is clear that your studies should not fail because of financing. So let’s talk about money and the various ways you can finance your studies. Let’s get started with the BAföG and the BAföG reform 2019.

What exactly is BAföG?

BAföG is in principle an assistance with which the state supports you in financing your studies.

How is BAföG paid out?

Your BAföG is transferred to your account on a monthly basis. The amount of your support depends on various factors and is calculated individually for you when you submit your application.

What is the BAföG maximum rate?

At the moment the BAföG maximum rate is 735 Euro. The good news is that as of winter semester 2019/2020 there will be a BAföG reform and the monthly maximum will be adjusted to 850 Euro.

Would you like to earn extra money with a part-time or mini-job? You can also do this despite BAföG. However, only up to a maximum of 5,400 Euro per year.

How about the payback?

Even more good news for you! 50% of your entire BAföG grant is a state subsidy for your future, your studies.

The other 50% is an interest-free loan that you have to pay back. However, only a maximum of 10,000 Euro, because the repayment amount is capped – even if you get significantly more BAföG funding during your studies. The repayment does not start until five years after the end of the maximum funding period. For you, this means that you repay your share in quarterly payments. Currently, this is 315 euros, whereby the amount will increase to 390 euros per quarter from April 2020. Of course, you can also consider whether an early repayment makes sense for you, because you may even be able to secure a discount.

BAföG Reform 2019

How do I apply for BAföG?

First of all: You can’t avoid preparing a BAföG application because it decides whether and how much funding you will receive.

In order for your personal maximum support rate to be determined, you must provide information on your and your parents’ financial situation in your application.

However, you cannot submit a BAföG application without matriculation. However, as soon as you have received your confirmation of enrolment, we recommend that you submit your application immediately, as it can take several months for BAföG to be transferred to your account.

What you need to know is that an approved initial application is not a BAföG s permanent order. Therefore, you must not forget to submit a follow-up application every year so that you can continue to receive your BAföG. You must submit your application within certain deadlines. You can do this either in person at the BAföG office responsible for you or by post.

Our advice for you:

Your BAföG application can take a few hours and – we admit it – can also cost you some trouble. Especially because it’s important that you don’t make any mistakes and attach all the necessary proofs.

On the website DeineStudienfinanzierung you can calculate your BAföG entitlement to the nearest euro, you can also submit your initial and follow-up applications digitally. In addition, DeineStudienfinanzierung will help you find the right documents and submit your application to the BAföG office responsible for you after checking all your details.

Our conclusion:

We think that it is always worthwhile to apply for BAföG, because after all you get money from the state for your studies. Therefore: Don’t be discouraged by the application.

You can find out more about studying and financing on our website. Just have a look!