BAföG grants, not bankruptcy
Studies need to be financed. The joy of securing a place at college or university is often followed by the question of “how will I finance my studies?”
In most cases, the financing of higher education comprises of a mixture of several financing possibilities. Grants awarded through the German Federal Training Assistance Act (“Bundesausbildungsförderungsgesetz” or “BAföG”) are the best known form of student financial support.
Other possibilities for financing your studies include maintenance support from parents or relatives, part-time jobs alongside your studies, scholarships and student loans, including Kreditanstalt für Wiederaufbau (KfW) student loans.