Financing your Bachelor studies at Frankfurt School with scholarships and loans

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Frankfurt School offers great opportunities for undergraduate students. The program is in high demand (we turn away almost two-thirds of all applications). Career opportunities for our graduates are excellent, as we know from many alumni surveys and the interest that employers show in our students.

Tuition at Frankfurt School

There is, however, one disadvantage: studying at Frankfurt School is not free. For those starting in 2017, the Bachelor of Science in Business Administration costs 6,700 Euro per semester, meaning that the entire program amounts to some 43,000 Euro. The exact total depends on where students spend their semesters abroad.

Campus of the Frankfurt School of Finance & Management

Campus of Frankfurt School of Finance & Management

Whether this sounds like a lot of money mostly depends on the perspective. Compared to fees in places like the United States it is true a bargain. Germans, however, are used to free public universities, and many will consider it expensive.

Not a matter of family wealth

All prospective students should carefully way different options and ultimately decide for themselves whether the quality of education and service, the personal access to professors and all the other benefits of Frankfurt School are worth the price. It is crucial, though, that the decision should never be based on the financial abilities of one’s family. Therefore, I am delighted that we have added new financing options for our students. The decision to study at Frankfurt School never depends on the financial abilities of the student’s family.

Financing your studies

Financing options fall into two categories: non-repayable scholarships and loans and funds.

Scholarships

Frankfurt School runs a scholarship program. For the Bachelor of Science, this means a reduction of the tuition fees of 25% or 50%, in exceptional cases up to 75%. Scholarships are awarded continuously throughout the admissions cycle, so it pays to apply early. In addition to the general scholarships we currently also award scholarships for graduates from IB schools and German Schools Abroad (Deutsche Auslandsschulen).

The so-called Deutschlandstipendium awards 300 Euros per month over a (renewable) one-year period.

DeutschlandstipendiumInternational students can apply for one of the currently two STIBET III Matching Funds Scholarships from the German Academic Exchange Service (DAAD). These scholarships are meant to help students settle in. They are worth 3,000 Euros, paid in six installments at the beginning of the study program.

Several other German institutions support highly talented students, particularly the thirteen institutions that award scholarships funded by the German Federal Government. Depending on their financial situation students receive up to 970 Euros per month during their studies, plus additional amounts for study abroad.

The German government also awards student loans called BAföG for students from low-income families.

Loans and Funds

Frankfurt School cooperates with different organizations that offer student loans of various kinds. The Frankfurt School Education Fund, run by our partner Brain Capital, finances up to 100% of your tuition fees, meaning that you can complete your studies without paying any tuition. Once you start working after graduation, you pay the fund a certain percentage of your income, usually over ten years.

Brain CapitalIf your salary is low (somewhat unlikely for Frankfurt School graduates, but just in case) you pay nothing or very little. If your salary is high, you might pay more than you got, but never more than twice the amount received. We believe that this is an intelligent and fair way to finance your studies. You know that the amount you pay depends on your future income, that is, it is directly proportional to the economic benefit that you derive from your degree.

Deutsche Bildung offers a similar model, but the maximum amount you can receive is 15,000 Euros.

Future Finance offers a traditional loan where you pay interests and repay the full loan amount. They also cover living costs in addition to tuition.

Public bank KfW offers an educational loan of up to 650 Euros per month.

US citizens can get a so-called FAFSA loan from the Department of Education. Frankfurt School is one of only four universities in Germany approved by the DoED.

Payment schedules

Finally, we’ve just introduced a possibility to pay the tuition fee in monthly installments rather than twice a year at the beginning of each semester. Students who wish to switch plans can do so at any time by contacting their study advisor. There is a 5% surcharge for monthly payments to offset the additional costs for Frankfurt School.

Need more advice?

Dr. Peter Kiefer

Dr. Peter Kiefer

The different options can be confusing. It all depends on your personal financial situation and your preferences. My colleague Peter Kiefer is our Educational Advisor and an expert in education finance. He can give you tailored advice, free and confidential.

CC BY-ND 4.0 Financing your Bachelor studies at Frankfurt School with scholarships and loans by Matthias Catón is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.

By | 2017-02-07T22:07:49+00:00 25 July 2016|Categories: Frankfurt School|Tags: , , , , |