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Source: BUS Sachsen-Anhalt (Linie6PLus)

Apply for early repayment of the BAföG loan

Description

You will receive a discount on your BAföG loan if you receive a

  • Partial sum over EUR 500 or
  • repay the entire loan debt.

Discount before the repayment period:

You will receive the greatest possible discount if you repay the entire loan debt at once prematurely. How high your total loan debt is and a lot of money you save in the case of one-time early repayment will be communicated to you in the assessment and repayment notice (FRS) of the Federal Office of Administration. You will receive this about 4.5 years after the end of the standard period of study.

Period of early repayment:

  • From the day you receive the FSR until one day before the first date of the installment refund.
  • The sooner you make the repayment before the start of repayment, the higher the discount.

You are free to accept the offer of early repayment or to start paying in installments.

You can also receive a discount if you can repay not the whole, but only a partial sum prematurely. The partial sum must be at least EUR 500 in order to receive a discount. The actual payment amount is generally less than EUR 500, as the estate is deducted beforehand.

Discount on repayment in the repayment period:

If you first pay off your loan in installments and then later opt for an early full or partial repayment, you can continue to get a discount. However, the discount is reduced the lower the remaining loan amount. In this case, please submit an informal application for a discount to the Federal Office of Administration. You will then receive a corresponding offer that you can accept on the specified payment date.

Note: With a partial early repayment, you cannot "buy" a payment deferral, but the repayment period is shortened. You are also obliged to pay the standard installments according to the present repayment plan.

You can apply for an early repayment in writing or online at the Federal Office of Administration (BVA). In the case of repayment, two cases are distinguished:

Case 1: You have not yet started to pay off your BAföG loan:

  • About 4.5 years after the end of the standard period of study, you will receive the so-called "assessment and repayment notice" from the Federal Office of Administration.
  • The decision contains an offer for early repayment of the BAföG loan with the greatest possible discount.
  • You are free to decide whether to accept this offer or to accept the installment payment according to the existing repayment plan.
  • Alternatively, you can also decide here whether you want to repay a partial amount of more than EUR 500 per month early.
  • In this case, you submit an informal application to the Federal Office of Administration, either by post or via the Bafög online portal. In it, you must indicate when and how much you want to repay early.
  • After examination of the application by the BVA, you will receive a notification with your early payment and the estate.
  • In both cases, the following applies: If you wish to accept the offer, you must transfer the amount of money stated in the notification to the account of the Bundeskasse Halle (BUKA) in due time.

Case 2: You have already started to pay off your BAföG loan:

  • Submit an informal application to the BVA online or in writing. In it, you must indicate when and how much you want to repay early.
  • After examination of the application by the BVA, you will receive a notification with your early payment and the estate.
  • You are free to accept this offer.
  • If you accept the offer, you will transfer the payment amount within the period specified in the notice.

Note: With the increase in the rate from 01.04.2020, the estate table will also be changed accordingly. Exemption periods will not be taken into account in the future, so that no discount will be granted on these installments.

  • You received BAföG with a loan share during your studies
  • You repay your BAföG loan in part or in full before the end of the payment period
  • In case of partial early repayment, you must repay at least an amount of EUR 500

Maximum possible discount until the first due date of the first quarterly instalment.

Usually none. If you submit the application via the online procedure using the electronic ID card, two offers will be sent to your current address on the same day, which contain an immediate or later payment date.

Forms: none

Online procedure possible: yes

Written form required: no

Personal appearance required: no

The text was automatically translated based on the German content.

Federal Ministry of Education and Research

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