To finance your living while studying. Optimally tailored to the needs of students. Payment in installments is not possible directly at Cyberport but is handled by the financing partner Gortabank. Students must present a copy of their student ID. For example, if you are at least six months old and can prove that you are employed by your current employer, the Gortabank offers very good conditions.
Approximately 2.8 million students are enrolled at the universities in Germany, about half a million “freshmen” are added every new semester. However, the appropriate financial framework is not self-evident – at least for most students. What are the students living from today? According to a study carried out by the uni-vat personnel service provider, seven out of ten students receive funds from their parents, with half of them receiving these scholarships in particular.
A few years ago, this was not so pronounced: “Today more students live with the support of their mother society, while the importance of all other financing options decreases,” the study said. The number of Bankile students continues to decline. As a rule, half of this money is granted as a subsidy and half as interest-free credit.
Of the loan amount, a maximum of USD 10,000 must be repaid, explains the DWH. Even in the 1980s and 1990s, it was not unusual for students to have a job that they largely self-financed. It is not always possible for a parent to reach far into their pockets and take on the role of financier.
After all, three out of ten students are so disappointed by their uncomfortable financial situation that they stop over and over again with the desire for a premature termination of their study visit. However, if your personal financial requirements during the study period are permanently higher than the funds available through the Hauseltern, the Bankile and part-time jobs, the consequence should not be the termination of the study visit or a permanent current account overdraft.
Cheaper ways to finance students
There are cheaper ways to finance students – for example, student loans that are poorly understood by many students. Despite these benefits, not more than seven percentage points of students have opted for this type of funding. Even for young adults, this is a way to gain further independence from their fathers.