To provide you with more information regarding CHANCEN eG and the Income Share Agreement (ISA), we have gathered some of the questions that are most frequently asked by our applicants and members of our cooperative. You are always welcome to contact us should you have further questions or if you would like more details on the questions below.
|Citizenship||For which institution is it possible to apply?|
|German citizens / Bildungsinländer*innen (people without a German citizenship who have a German high school certificate - excl. Studienkolleg)||You can apply for funding for all courses we support.|
|Applicants from EU countries, Liechtenstein, Switzerland, Norway, Great Britain, Iceland, Monaco, USA, Canada, Australia, New Zealand, Israel and Singapore|| You can apply for funding for all courses we support (except psychology studies)
- which take place in-presence within Germany
- for remote courses if you reside in Germany during the time of the course.
An application for the support of psychology studies is possible
- if the studies take place in-presence within Germany
- for remote studies (and you are living in Germany during the time of the course)
AND you meet at least two of the three following criteria:
|All other nationalities||You can receive funding for all courses we support
- which take place in-presence within Germany
- for remote courses if you live in Germany during the time of the course
AND meet at least two of the three following criteria:
|Age||Up to what age is an application possible?|
|Bachelor's degree||40 years|
|Master's degree||43 years|
Yes. Our goal is to build a united community. That is why we have a conversation with every student about the ISA, CHANCEN eG and their chosen study program before we accept an application. You can find more information regarding the process as well as the form for handing in your application here.
While this is difficult to say in general terms, you should know that we normally accept more than half of our applicants. Therefore, we really like to encourage you to give it a try and submit your application! It is our goal to reduce the financial barriers to education. Ensuring that access to education is independent of an individual’s financial background. Therefore we would like to offer support to as many people as possible and not only to a handful of the “very best” candidates. For us, it is rather important that motivation and expectations towards the study course are convincing and that you are well-informed about the educational training, the possible career paths and the Income Share Agreement.
We especially want to encourage applicants who were/are faced with unequal opportunities, as for example applicants from families without university experience or applicants who have experienced discrimination, to apply for an ISA with us.
CHANCEN eG does not require a sponsor or guarantor from you to sign an ISA.
Our selection process is scientifically sound and based on certain criteria. You can read more about this here. In general, we consider criteria in our applicants that make study success and job entry likely. One example is your motivation and how interested you are in the subject. It is also important to us, for example, how well you are informed about the educational program and the conditions in the future working environment. This is a very important criterion in order to have realistic expectations and to be able to prepare well for any difficulties or disadvantages.
From submitting your application documents to signing the final ISA, it takes 4-6 weeks.
Generally, you can apply at any time for an ISA. In case you want to apply for studying medicine with the support of an ISA, we recommend you to apply just as soon as you have a concrete plan being ready to sign the final contract within the next weeks.
It is important to us that the application process is fair and that we avoid being influenced by external factors. You may have noticed that you have to enter all information and answers in predefined fields and that we do not want you to hand in a self-designed CV apart from your supporting documents. We also do not use photos. This means that only the content of your application counts and every applicant goes through the same process, in which we always use the same standardized evaluation criteria. We also do not use AI (artificial intelligence) in our application process or other software to evaluate your answers. Instead, our selection process is scientifically sound and based on specific criteria. You can find more information about this here.
No, your financial background is not taken into account during the application process and does not play a role in our success criteria for applications. You need to be a student at one of our partner institutions and although the financial background of you or your family is not taken into account, it is important that you are able to manage your finances effectively during your time studying.
As it is our goal to support as many students as possible, there is no limit in the amount of students we can fund. Therefore, you don’t need to worry about “taking the place” of someone who also is dependent on the funding.
Yes, there is a possibility of financing partial amounts of your tuition fees from a sum of 10.000 EUR.
We offer the ISA at Partner Institutions. Here you can find an overview of our partners. You will not find the universities within the European Union there that offer studying medicine since we have a partnership with only one of them (LSMU Kaunas). Nevertheless, studying medicine with an ISA is still possible there.
You don’t need to submit an application directly to us at CHANCEN. Instead, simply indicate your interest in the ISA during your application to CODE. CHANCEN will then be part of your interview on your CODE Admission Day. Our current eligibility criteria listed above does not apply to students applying for CODE University. The Income Share Agreement Model is available to all students who are successful in the application process and granted an acceptance offer by CODE. More details into this process are given on your Admission Day.
– Within Germany: We are expanding our partnerships with educational institutions continuously. You can kindly contact us asking if a partnership with your educational institution would be possible or maybe even in the process already. Please keep in mind that the process of closing a partnership can take several months.
– Within the European Union: Currently it is only possible to study medicine with an ISA. Most of the universities offering this are not yet a partner of CHANCEN eG. Nevertheless, studying with an ISA is still possible there.
Yes. ISA’s are not considered income, a scholarship or another form of state-approved funding. Therefore, financial contributions will not be credited to your BAföG and you can receive BAföG. However, keep in mind that you will need to repay BAföG as well as your Income Share Agreement once you have completed your studies. This increases your financial burden. We recommend that you apply for other scholarships and please speak to your local BAföG office about the possible effects of the ISA on your BAföG entitlement.
Yes, you can also apply if you are already studying at a university. In this instance, we can also refund the tuition fees you already paid retrospectively.
Yes. To apply for a scholarship, the same criteria applies when applying for BAföG. The ISA will not stand in your way.
The standard period of study can be modified or extended based on your personal situation.
What happens when:
In the case that you terminate your studies, we adjust the net financing amount according to the payments actually made by CHANCEN eG. The repayment percentage will also be adjusted to the financing amount. So if we have financed a lower sum than the contractually agreed sum, the repayment percentage will also be reduced on a linear basis.
Even in this instance, your repayments will only start once your income is above the minimum threshold. You can, therefore, start another degree or apprenticeship without financial stress.
If your income is very high. then the maximum repayment amount, as stipulated in your contract, is applicable. Over the entire repayment period beneficiaries never have to repay more than twice the actual amount (adjusted to inflation) on tuition fees as per the enrolment date.
The repayment is based on gross income, once social security contributions and related expenses have been deducted. This is applicable when your net income is 78.8 % of total earnings, for freelancers (non-employees) it is 63.0 % of total income. Total income includes: gross income, rental and investment income less the standard amount paid to pension benefits. This calculation is based on current guidelines from the German Education Act BAföG – deductions for employees, trainees and inactive persons are approx. 21.2% and for non-workers 37.0% ).
Premature payments and settlements on an ISA will be a total of the maximum contribution. As we cannot foresee how high an individual’s future income may be, we request maximum payments. This is done in solidarity with the community and is part of the promise made to future generations.
In the first place, this will not have any effect on your repayment since a lottery win and a lump sum of inheritance are not defined as income according to the German Income Tax Law (§2 Einkommensteuergesetz). Nevertheless, if you invest this money profitably generating any income (e. g. rental income because you bought a flat with the money), this income will increase your repayment amount.
The freedom to create your own career path is one of the fundamental values of CHANCEN eG. It states that the freedom to choose your career should not be limited by an Income Share Agreement. This also applies to jobs where wages are lower. Unlike traditional credit, the ISA has no fixed loan amount that needs to be paid within the first few years following graduation. Due to the minimum income threshold, educational funding is socially responsible in cases where beneficiaries earn a lower income. If you consciously decide to earn below the minimum threshold of 27,000 EUR you are not obliged to make repayments. Once the income is above that limit you will be obliged to make repayments.
The minimum income threshold is the amount that indicates at which point graduates need to start repayments to CHANCEN eG. The amount is an annual income of 27.000 Euro. If you earn less than this you are not obliged to make repayments.
Repayments stretch over a 25 year period. During this time repayments are made within the first eight to twelve years for universities and five/six years for bootcamps, provided relevant income exceeds the minimum threshold of 27,000 Euro. Should your income not exceed this amount in this 25 year period or if it exceeds the minimum threshold amount less than eight to twelve times (for universities) or five/six times (for bootcamps) then the repayment obligation becomes null and void.
Your repayment of your tuition fees will start once you exceed the minimum income threshold, regardless of whether you further your education, do a traineeship or go into academia.
The potential repayment period begins on January 1 of the year following the successful completion of your studies. The actual repayments only start once you earn above the minimum income threshold.
Yes, in principle, the repayments could be tax deductible but this is dependent on the country you are based in. Find more from your local Tax office.
No. Income Share Agreements are based on the principle of solidarity: everybody contributes based on their financial capacity. Unlike an ordinary student loan, you are not obliged to repay a fixed amount of debt. If you have paid an amount based on your income that is above the minimum threshold over a total of eight to twelve years for universities or five/six years for bootcamps, your repayments will end. Irrespective of the total amount you have paid.
No, ISA’s do not take into account whether you are employed or not. It only assesses what your actual, current income is.
CHANCEN eG believes in freedom; for your studies and your career choices. If you decide to work abroad once you have completed your studies, you simply need to supply us with you Income Tax Return from the relevant country. If this Income Tax Return differs strongly from the German equivalent, you have to expound your income in the German format with the help of a tax consultant or auditor.