We have set up the education fund, Studienfonds gGmbH, at the University of Lübeck. This provides financial aid in the form of micro-loans to eligible students and thereby helps minimise the debt they incur while getting an education. In return, we require you as a borrower to pay back the loan after you graduate and begin working. The payment amount is determined by your income and the degree you earned at the university.
Why did we set up an education fund?
A typical student at the University of Lübeck has €160/month less than the average student in Germany.
70% of our students work on the side, which only lengthens their stay at the university.
In a 2008 survey that we conducted, we found that 69% of the students felt anxiety about the possibility of racking up too much debt at the university.
Only 3% of university students in Germany get financial aid, and most of these recipients come from families with good incomes.