The KfW student loan (KfW-Studienkredit) is the best-known loan for students in Germany. It is applied for through banks and savings banks and is aimed at students up to a certain age limit. This glossary entry explains the terms you need to know for your decision, with the values from October 2026.
Short answer: The KfW student loan pays you between 100 and 650 euros a month. According to KfW, the effective annual interest rate (effektiver Jahreszins) from 1 October 2026 is 6.38 percent (Stand: October 2026). The total amount depends on your age and the funding period, and at 14 semesters it is up to 54,600 euros.
The Key Points
- Monthly amounts between 100 and 650 euros, which you choose yourself.
- The funding period depends on your age: 14 semesters up to age 24, 10 semesters up to 34, and 6 semesters up to 44.
- The effective annual interest rate was 6.38 percent from 1 October 2026 and is adjusted every six months.
- After payments end, a grace period of 18 to 23 months follows, during which you do not have to repay.
- Repayment lasts at most 25 years or ends at the latest when you reach age 67.
Which Amounts and Terms Are Available?
You choose a monthly amount between 100 and 650 euros. How long you receive funding depends on your age when financing starts. The funding period by age follows the KfW leaflet. The maximum sum is the number of months multiplied by the monthly amount. We count one semester as 6 months.
| Age at start of financing | Funding period | Maximum sum at 650 euros a month |
|---|---|---|
| up to 24 years | 14 semesters | 54,600 euros |
| up to 34 years | 10 semesters | 39,000 euros |
| up to 44 years | 6 semesters | 23,400 euros |
Calculation: 650 euros times 6 months times the number of semesters. The age limit of at most 44 years comes from the KfW leaflet dated November 2023. Check the current conditions with KfW.
How High Is the Interest Rate, and How Does It Change?
According to KfW, the effective annual interest rate was 6.38 percent from 1 October 2026. Before that, 6.53 percent applied from 1 April 2026. The interest rate is adjusted every six months on 1 April and 1 October. The next adjustment is planned for 1 April 2027.
Assumption for illustration: you have received 23,400 euros in payments and repay nothing for one year. The interest for that year would be roughly 1,493 euros. This is a simplified calculation that does not reflect repayments or the timing of payments.
How Does Repayment Work?
After payments end, a grace period of 18 to 23 months begins. During this time you do not have to repay. After that, you start repaying. Repayment lasts at most 25 years or ends at the latest when you reach age 67. The bank sets out how the instalments are arranged in your contract.
Student Loan or Bildungskredit: Which Suits You?
The student loan is a bank product with KfW funding. The Bildungskredit is granted directly by the federal government through the BVA. The student loan can offer you higher monthly amounts, provided you meet the age limit. You will find the Bildungskredit in the glossary entry on the Bildungskredit.
Frequently Asked Questions
Up to what age can I apply for the student loan?
According to the KfW leaflet dated November 2023, the age limit is at most 44 years on the cut-off date before financing starts. Check the current version on the KfW website, because conditions can change.
Can I use the student loan while studying abroad?
That depends on the specific conditions of the programme. If in doubt, ask KfW or your bank before you sign a contract.
How much do I have to repay each month?
This depends on the amount paid out, the interest rate and the repayment plan. Your bank will calculate this for you in the offer. Make sure you compare the effective annual interest rate, not only the nominal interest rate.
Is the student loan a grant?
No. The student loan is a loan that has to be repaid. Before you decide, check how much money you really need.
How to Proceed Now
- Check the current KfW conditions, especially the age limit, interest rate and funding period.
- Calculate how much you will repay in total with your desired amount, using the effective annual interest rate.
- Compare offers from several banks before you decide.
- Ask for the terms in writing before you sign the contract.
Related Articles
- Student loan comparison, criteria and rates 2026
- German Education Loan (Bildungskredit): Rates 2026
- Studying without BAföG: your funding options
- BAföG 2026: Eligibility, amount and repayment explained
- Glossary: Bildungskredit explained simply
Sources: KfW, leaflet on the student loan (status November 2023), KfW, questions and answers on the student loan (interest rate from 1 October 2026).
Stand: October 2026. This glossary entry is general information and not individual advice.
