Bafög and Bauspar contract: This is how the assets are counted

If prospective students have a home savings contract, they must disclose the capital saved in order to calculate the Bafög rate. How to get the most out of Bafög.

In addition to the income of the parents and, if applicable, the spouse, the assets of the student applying for the Bafög are also taken into account when determining the Bafög. Of the saved assets, 7, 500 euros remain free of charge, plus an additional 2, 100 allowance for each child and spouse or registered partner, provided that they live in the same household. Anyone who has a home savings contract or a well-filled call deposit account at a young age must notify the Bafög office of the current balance of their savings contracts - the same also applies to fund savings plans, life insurance policies and other capital-forming investments. Like the life insurance, the home loan savings contract is also part of the assets if it is only paid out after several years.

Assets to be offset

In addition to the classic investments, assets include all movable and immovable valuables such as jewelry, coin collections or your own motorcycle, but also claims and other rights such as land or rental deposits. The property does not include:

• Rights to pensions, pensions and other recurring benefits
• Transitional and reintegration allowance
• Usufructuary rights
• Household items

Receive more student loans

To get more Bafög, you should simply try to reduce your assets before applying. The best way to spend the money is on things that you need for your studies anyway - for example for furniture for the new student apartment or for a new notebook. Do not invest in cars or motorbikes, as these, if you are the owner, do not represent household items and count towards your assets. You can work around this problem by simply buying the motor vehicle with a trusted friend, letting him sign the sales contract and handing him the Part II registration certificate. Tip: If no sales contract can be found and your friend can show the registration certificate part II, he is the owner.

Hardship allowance

In some situations, the hardship case regulation may apply and a hardship allowance may be granted. Example: If it is not possible to reach the training center for health reasons or because of the location without a suitable car, the position car can be completely removed from the Bafög credit.

In order to get such a hardship allowance, it is important that it is a special individual case and that there is no alternative. If family members are ill or in need of care, the chances are also pretty good.

Bauspar contract not transferred

Under no circumstances should you transfer your building society savings contract and other monetary or property assets to third parties without equivalent consideration - especially not to parents or other relatives. The trick with the relocation is abusive and the authorities see through it immediately. It is simply ignored that the assets are booked under a different name and are still added to your assets. This basically applies to all donations of the past ten years, but is hardly checked as far. In addition, you receive less state support for your home savings contract transferred to the name of your parents, provided that they exceed the income limits for the housing construction premium.

Tip: Those who receive no or too little Bafög also have the option of applying for an educational loan. You can get this in addition to the Bafög.