The study is already several years behind you, but the loan repayment directly in front of you: You have to repay your BAföG. Worth knowing in connection with the repayment betrays you the Streitlotse.
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Pay back BAföG: how much?
The career entry has been successful – great! Now is the time to settle your debts. If you have studied at a university, academy or higher technical college and have received BAföG, you will normally have to repay half of the BAföG funding. The repayment of the government loan is handled by the Federal Office of Administration (BVA) in Cologne. This must always be informed about the current address of the repayers. Those who have taken up their studies on March 1, 2001 or later, must repay a maximum of 10,000 euros BAföG, even if the debt is greater.
When does the loan repayment begin?
Five years after the end of the maximum funding period, you have to repay your BAföG. If you have changed your degree program, the eligibility period of the last course of studies is decisive. The notification of the loan repayment reaches you approximately four and a half years after the end of the maximum funding period. The letter informs you about the installment amount as well as the repayment in general. The repayment is usually made in quarterly installments of at least € 315.
When is an exemption possible?
Should your net income not be sufficient in due course to repay the BAföG loan, you can apply for one year's leave. The income limit for an exemption from the repayment is currently 1,070 euros. As of 1 August 2016, the income limit will be increased to € 1,145. If your net income is below this amount, you may be exempted from the loan repayment on a temporary basis.
In case of legal trouble with the authorities, a private legal protection can help you.
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