Daka student loan: Permanently interest-free!

© Daka
  • Loan fund of Studierendenwerke advertises for student loans
  • Unbureaucratic and fast help for students in financial difficulties
  • Daka: non-profit association of the 12 Studierendenwerke in NRW (North Rhine-Westphalia)
  • Up to €12,000 loan possible

The COVID-19 pandemic is causing many students to lose their part-time jobs and thus financial worries. One possibility to get through financial difficulties for students in NRW is the permanently interest-free Daka student loan. Daka Darlehenskasse of the Studierendenwerke draws attention to this.

The Darlehenskasse of the 12 Studierendenwerke in North Rhine-Westphalia is a non-profit organisation that has been granting interest-free loans to students in financial difficulties for more than 65 years.

Students can apply for a maximum loan amount of up to €12,000 from Daka; this can be up to €1,000 per month. To cover the administrative costs, 5% of the amount paid is withheld. An average loan amount of about €6,500 means costs of €325 for the student(s). This corresponds to an effective annual interest rate of 1.57%. For a comparable KFW student loan, for example, expenses of more than €800 incur - despite being interest-free until 31 March 2021.

The application for the Daka loan is made at the local Studierendenwerk, (find contact persons under How much the loan is and how long it is taken depends on individual needs. Repayment usually begins twelve months after the last payment, but can also be postponed. 

Go back