Scholarships & Financing

Students of Munich Business School as a basic principle are entitled to financial support according to the Federal Education and Trainings Assistance Act (BAföG).

Whether state grants are issued in individual cases depends on the income and asset of the applicant and his/her parents. A support independent of parental income requires the applicant to either have been employed for 5 years after age 18, or to have been employed for 3 years after a 3-year vocational training (or for shorter training periods an suitably longer period of employment).

BAföG services are provided as one half being a grant not requiring payment, and the other as an interest-free loan, with part of the loan repayment also potentially being waived depending on the study term and outcome. Currently, the maximum amount is 752 euros for students who do not live with their parents and have family insurance. If students have health insurance, they receive up to 861 euros (from the age of 30: 941 euros). For students who live with their parents and have family insurance, the maximum amount is 483 euros.

The BAföG authority responsible for MBS applicants is:

Studentenwerk München Anstalt des öffentlichen Rechts Amt für Ausbildungsförderung
Leopoldstr. 15
80802 Munich
Germany
Phone +49 (0)89 38196-0
Fax +49 (0)89 38196-111
E-Mail: muenchen@bafoeg-bayern.de
www.studentenwerk-muenchen.de/finanzierung

Even for students not receiving BAföG it may be worth inquiring about the conditions of the international BAföG. Due to the increased financial expenses of studying abroad, the limits of the imputed income may change compared to the domestic BAföG calculation. The respective application should be submitted to the responsible grant authority no less than 6 months prior to leaving the country.

Details about the conditions can be found at http://www.das-neue-bafoeg.de/.

Scholarships oftentimes present the most beneficial option for financing studies, as they generally do not require repayment. However, the number of scholarships is limited and they therefore generally require successfully passing an application process.

The criteria in the awarding of scholarships vary. In many cases they are used to promote the gifted, but there are also other purposes, making applying worth while for many students.

The addresses listed below are merely a selection of the best-known foundations in Germany.

Further information is available at www.stiftungsindex.de.

Find an overview of the various types of scholarships for students and graduates offered by selected organisations here:

• www.mystipendium.de
• e-fellows.net

For international students who want to study in Germany: DAAD ("Deutscher Akademischer Austauschdienst")

In addition to scholarships, various loan programs are available. Providers include public and private banks. The Kreditanstalt für Wiederaufbau (KfW) plays a special role, as in addition to its own products – the KfW-Studienkredit [student loan] and the KfW-Bildungskredit [education loan] – it is also a lender for the BAföG bank loan.

KfW-Studienkredit
The KfW-Studienkredit is a limited term, low interest loan for initial degrees that requires no securities and is granted regardless of the student's or his/her parents' income. The monthly disbursement is between 100 and 650 Euros. The interest is adjustable and is adjusted to the capital market development semi-annually. At signing, however, the borrower is issued a guaranteed interest cap for a period of 15 years. Interest is typically deferred. The grace period is 18 to 23 months following the last date of disbursement. The subsequent repayment term may be extended to a maximum of 25 years. Unscheduled repayments may be made at any time and without penalty. Further information is available here: KfW-Studienkredit

KfW-Bildungskredit
The KfW-Bildungskredit is another low-interest loan product specifically for students in advanced study phases. This loan is granted regardless of assets and income of the applicant and his/her parents. Even the receipt of BAföG benefits does not influence eligibility for the KfW-Bildungskredit. Its term is limited to 24 months during which a maximum of 300 Euros per month is disbursed. Detailed information is available here: KfW-Bildungskredit.

BAföG-Bankdarlehen [bank loan]
This loan product is aimed toward students whose study term is extended following a change in majors or dropping out. Even second degrees can be financed in part with this option. The low interest BAföG bank loan does not require securities. The loan amount is determined by the respective Amt für Ausbildungsförderung [grant authority]. Since the loan is handled by the Kreditanstalt für Wiederaufbau, detailed information about this loan is also available here: KfW-Bankdarlehen.

Comparison of student loans & education funds (German)

The portal “studieren-berufsbegleitend.de” offers comprehensive information about various models of student financing and explains how a course of studies becomes tax-deductible. In addition, the charitable organization SBB, “Stiftung Begabtenförderung berufliche Bildung – Gemeinnützige Gesellschaft mbH” offers on behalf of and with funds of the Federal Ministry for Education and Research two scholarship programs, one for persons entering a profession (training scholarship) and one for those who are experienced (upgrade scholarship). The SBB is also the first place to contact for all those who rely on competent information and advice regarding all aspects of the funding of occupationally talented people.

Munich Business School supports talented and dedicated students by awarding the Deutschlandstipendium. This scholarship program not only provides financial assistance but also recognizes outstanding achievements and social commitment.

We are proud to have Allianz as the official sponsor of the Deutschlandstipendium at our university. Together, we are building the foundation for the development of future leaders and fostering a new generation of talents.