OREANDA-NEWS. November 26, 2012. KfW Bankengruppe is improving the eligibility conditions for its Student Loan. From April 2013, postgraduate, complementary, second degree courses and doctoral degree courses will be eligible for financing for the first time. In addition, all study courses can be financed flexibly with a KfW Student Loan on either a full-time or a part-time basis. With this expansion KfW is adapting its Student Loan to the future financing needs of academic education and further study and responding to the desire for lifelong learning.

"Germany is benefiting from its bright minds. People are constantly pursuing academic education and further study", explained Dr Axel Nawrath, member of the Executive Board of KfW Bankengruppe. "The expanded KfW Student Loan can now be applied more widely, and it effectively supports postgraduate study courses."

The German Minister of Education, Dr Annette Schavan, welcomed the added flexibility. "The KfW Student Loan is an indispensable addition to BAfoG [Federal Education and Training Assistance] and scholarship offers. Expanding it will benefit all those going back to university from employment or taking up academic study while managing a double burden, such as child-rearing - in short, all those who take lifelong learning seriously", said the minister. "So it is a sign of appreciation that all of them can soon benefit from student loans."

The KfW Student Loan, which is independent of income and credit standing, will then be available to all students who are not older than 44 years when they apply. Depending on the duration of the financing, the age limit will thus be significantly extended.

In future, the KfW Student Loan can also be used to finance several study courses, even when the borrowers are already in the repayment period of the KfW Student Loan they have already used. If the student has not yet used up the committed financing amount, the repayment may be interrupted and the available financing used for a new study course. Only after completing this course does the borrower continue repaying the loan.

Students may apply for up to EUR 650 a month to finance their living expenses. KfW usually finances up to 14 semesters. The maximum amount of the KfW Student Loan will continue to be EUR 54,600. Applications may be filed online from 1 January 2013.