Those who are interested in studying will in most cases do so with a clearly economic background. Exactly the one that will later be easier in practical professional life due to the high qualifications to reach financially well-funded positions. The primary goal is to lay the foundation for a financially secure future with a successful degree.
What appears to be logical and absolutely comprehensible turns out to be a desired scenario when looking at reality. Because the reality is different: A majority of the students who complete their studies start their professional lives with a mountain of debt. Caused by the necessary use of loans to finance your studies! Be it through a student loan or a special student loan .
The annual debtor atlas provides evidence of the increasing debt of students. Because it shows a steadily increasing debt of young people. A large part of that analysis group are pupils and students. However, whoever argues that this is not a miracle due to tuition fees etc. is unfortunately wrong, because tuition fees at public universities have long since been abolished. Students can also benefit from numerous benefits, but obviously the study still has the potential of a debt trap.
It is a fact that studies require access to the appropriate funds due to the semester fee, rent, food, books and learning materials as well as possibly a stay abroad. Funding options such as German State Funding or a student loan certainly correspond to the first thought of such funds, but experience shows that these are often not sufficient to cover the real money needs. It is not uncommon for students to take out further loans in the course of their studies in order to make ends meet. The consequence is the accumulation of debts, which then have to be reduced once you start working.
A representative study on this topic recently showed that only 56 percent of the graduates surveyed can start their careers financially unencumbered. Most of the respondents in this group benefit from financial support from their parents or relatives. For some of the students, parents / relatives are the only source of finance during their studies. The consequence? After completing their studies, around 44 percent of all students have to get to grips with a debt burden on their shoulders and pay them off in the first few years of practicing their profession.
And the sum of the debts is not small: According to the survey, around twelve percent of university graduates went into employment with debts of USD 10,000 to USD 19,999, and 11 percent with USD 6,000 to USD 9999. At eight percent of the interviewees, the debts at the time of graduation were between 3000 and 5999 USD.
Only ten percent had less than 3000 USD in debt. Only a minority of three percent of those surveyed had to take on more than 20,000 USD in debt during their studies. These debts are often accrued through German State Funding, student loans or private loans.