Daka increases budget for interest-free student loans to 8 million euros
- Student loan fund promotes student loans
- Annual budget increased from 6.6 to 8.0 million euros
- Unbureaucratic and fast help for students in financial need
- Daka: non-profit association of 12 Studierendenwerke in NRW
- Loans of up to 12,000 euros possible
The COVID-19 pandemic has caused many students to lose their part-time jobs and thus financial worries. But by no means all students in need are entitled to the nationwide Corona bridging assistance. As a good alternative, the 12 Studierendenwerke in North Rhine-Westphalia recommend the permanent interest-free Daka student loan in such cases.
In order to be able to provide more support to students in 2021, Daka has increased its budget for 2021 by over 20% from 6.6 million to 8.0 million euros.
The loan fund of the 12 Studierendenwerke in North Rhine-Westphalia is a non-profit association that has been granting interest-free loans to students in financial need for more than 65 years.
Students can apply to Daka for a maximum loan amount of up to 12,000 euros, which can be up to 1,000 euros per month. To cover administrative costs, 5% of the disbursement amount is withheld.
The application for the Daka loan is made at the local Studierendenwerk, (contact persons at www.daka-darlehen.de). How much the loan is and how long it is claimed for depends on individual needs. Repayment usually begins twelve months after the end of disbursement, but can be deferred further.
"The current pandemic situation is pushing many students to the limits of their financial capacity. Daka as an institution of Studierendenwerke NRW is there for them! With the supply of a record budget of 8 million euros, we have positioned ourselves strongly to meet the increasing financial needs of students. Our loans have unbeatable terms, very clear and fair repayment conditions," says Detlef Rujanski, Chairman of the Board of Daka.
Darlehenskasse der Studierendenwerke e.V. (Daka) is the largest loan fund of the Studierendenwerke nationwide. In the latest student loan test by the Center for Higher Education Development (CHE), it once again received an excellent rating.