Interest-free education loans for Georgian students in Germany

Interest-free education loans for Georgian students in Germany

During these times of pandemic, the German government is offering financial support for Georgian students. Due to Covid-19, many students have lost their jobs which allowed them to finance their stay in Germany. According to official figures from Statista, three out of four foreign students in Germany work throughout their studies and have had their incomes seriously affected by the pandemic. In this context, the German Minister of Education and Research, Anja Karliczek, has announced the creation of an interest-free education loan program, to ensure the continuity of their studies. According to information from MyGermanUniversity GmbH (MyGU), a portal specialized in studies in Germany, almost 400,000 international students are enrolled in a German university, with a growing trend for the following years. 

Stephan Paulini, co-founder of MyGermanUniversity, based in Hamburg, was previously director of the German Academic Exchange Service (DAAD) in Peru and knows very well the reality for international students in Germany. Stephan Paulini stresses the importance of this measure taken by the German government: "This will allow many Georgian students to continue their studies and not be forced to return to their country because they do not have sufficient resources to cover their expenses.” Georgian students will be able to access the education loan for up to 650 euros per month from June 1, 2020. 

Germany stands out as a preferred destination for Georgian students studying abroad. According to the DAAD, in 2018 it was the number one preferred country for Georgian students studying abroad. The great interest in Germany among Georgian students is self-explanatory by its high quality of education and its 400 internationally renowned universities, which offer more than 20,000 undergraduate and graduate programs. Furthermore, students do not need to speak German to study at the postgraduate level at a German university. There are more than 1,700 Master's programs in English, with 69% of them charging no tuition fees, due to the enormous economic subsidy offered by the German state.

The study portal MyGermanUniversity https://www.mygermanuniversity.com/, has the largest and most complete database of master’s programs in Germany, with more than 1700 Master's programs in English. 

Author: The FINANCIAL