Summary of BAföG Rückzahlung: In Raten oder besser auf einmal? Kredit aufnehmen?

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This YouTube video discusses the different repayment options for BAföG loans and offers recommendations on the best approach to save money. The options include repaying in installments or paying the loan off all at once, with examples provided to illustrate the potential discounts and costs associated with each method. The video also explores the possibility of taking out a loan to repay the BAföG loan in one go, comparing the interest rates on these loans to the discounts received for full repayment. Additionally, the video suggests other alternatives such as leaving the money invested in an ETF, but cautions that this may not be a guaranteed option. The importance of applying for exemptions if financial stability is an issue is also emphasized. Overall, the video provides valuable insights to help individuals make informed decisions regarding their BAföG loan repayment strategy.

  • 00:00:00 In this section, the YouTuber discusses the repayment options for BAföG (German student financial aid) and how to smartly repay it to potentially save up to 2,100 euros. The options include repaying in installments, paying it all at once, or a combination of both. The video also explains how to be exempt from repayment after four and a half years from the end of your studies. The YouTuber suggests starting to save for repayment early by setting up a regular transfer of 130 euros to a savings account. Additionally, there is a discount of 2,100 euros if the full repayment amount is paid all at once. Examples are given to illustrate how the repayment amount and potential discounts vary depending on the student's individual situation.
  • 00:05:00 In this section, the video discusses whether it is better to repay the BAföG loan in installments or all at once. If one chooses to pay off the entire loan at once, they receive a lower discount of 13% and would only have to pay 4,350 euros. The remaining debt of 5,010 euros can be paid off in just over three years. However, if a person does not have enough money to pay off the loan in one go, it may be worth considering taking out a loan to repay the BAföG loan all at once. The interest rates on such loans are currently low, making it cheaper in many cases. The video compares the interest amount on the loan to the discount that would be received for paying off the loan in full. In most cases, the interest paid on the loan is significantly less compared to the discount, making it a more favorable option. However, individuals should ensure that they can afford the loan repayments before opting for this method. Another option discussed is leaving the money invested in an ETF and opting for installment payments. However, it is calculated that the ETF would need to generate a return of over 3.7% per year over 6.5 years to make it a worthwhile option, which is not guaranteed. Therefore, it is recommended to take advantage of the 21% discount offered by the BAföG office. The video also mentions the option to apply for an exemption if the person is not financially stable at the time the BAföG repayment notice is received. Overall, the video provides various considerations and recommendations for deciding the best repayment method for BAföG loans.

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