In the past year, more than 166,000 participants of continuing education courses received benefits on the basis of the Advanced Further Training Assistance Act (AFBG Aufstiegsfortbildungsförderungsgesetz), better known under the name of "master craftsman BAföG" student loan.
According to information from the Federal Statistical Office, the number of people receiving these benefits again exceeded the high 2010 rate.
Annette Schavan, Federal Minister of Education, said, "This proves how important this form of support is for vocational education. Investment in vocational training and continuing education yields sustained results. With the help of the master craftsman BAföG student loan, many skilled workers create the basis for their professional career. Many of these later go self-employed and create new jobs."
According to the federal statistic, the number of women receiving these benefits rose to 52,600 in 2011. Compared to the previous year, this number increased by 1.5 per cent. The largest share of people benefiting from this measure were participants in the age group of 25 to below 30 years of age with 34 per cent, followed by the age group of 20 to under 25 years (33 per cent) and the age group of 30 to under 35 years (15.3 per cent). In the past year, the grant approvals amounted to some 539 million Euro, which is about 20 million Euro more than in 2010.
According to the federal statistic for 2011, 60 per cent of grant recipients studied part-time and 40 per cent studied full-time. With 50 per cent, continuing education qualifications in the field of industry and commerce took the lead. 29 per cent of grant recipients attended continuing education measures in the crafts, where the rate of those later going self-employed is particularly high.
The numbers published in the federal statistic clearly demonstrate the success of the master craftsman BAföG student loan. The high standard that was established over the course of the past years, in particular also due to the amendment of the AFBG in 2009, has stabilised and is positive proof of the young skilled labour force's motivation to further develop themselves on a professional level.
Since 1996, the "master craftsman BAföG" student loan supports on-going professional qualification and creates incentives for potential founders of new businesses.