The DAKA ‘Final Loan’


The Loan Bank of the Student Services in the State of North Rhine-Westphalia (Darlehenskasse der Studentenwerke im Land Nordrhein-Westfalen e. V. - DAKA) supports students financially in the examination phase through a special study loan. Students are generally eligible in the final phase of their course of study, which normally means a period of 18 months before the end of the course. Age and number of terms spent studying play a subordinate role in the granting of a loan. The borrower must produce a guarantor (or two in the case of the maximum loan of 12.500 euro). Applications for such a DAKA loan must be submitted to the Student Services. Students have no legal claim to the granting of a loan.

Payout phase

The special feature of the DAKA loan is that it is interest-free. The loan can amount to up to 1.000 euro per month, but may not exceed a maximum sum of 7.500 euro (in exceptional cases 12.500 euro).
Important: The DAKA’s annual budget is limited, so that at times not all applications can be approved in the requested amount.

Repayment phase

The repayment phase begins at the latest 12 months after the end of the payout phase. The monthly repayment rates amount to 130 euro (in the case of a total loan of up to 7.500 euro) or 200 euro (in the case of a total loan of 12.500 euro). To cover pro rata administration costs, 5% of the loan sum is retained when the last loan instalment is paid out. No other costs are incurred during the regular course of repayments.

Further information can be found undefinedhere.

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