What value for money does KLU offer its students?
KLU provides an ideal environment for learning: small classes, an excellent student-professor ratio, a state-of-the-art campus and easy access to relevant information in our library. The university administration also offers extensive support services: a unique career and job orientation program, a well-structured degree program and support in planning and organizing the semester abroad. Our student services team helps our students on day-to-day issues. And at KLU, world-class professors who are thought leaders in their fields teach the students.
A degree from KLU starts paying the day your career begins. KLU graduates earn above-average entry-level pay. The average entry-level annual salary for KLU graduates of the MSc programs living in Germany is 15% higher than the average salary of graduates from MSc in Management programs in Germany (Source: KLU Alumni Survey 2016 / stepstone.de).
KLU students are highly attractive to potential employers: 90% of graduates receive their first job offer before they graduate or within 6 months after graduation at the latest (Source: Alumni Survey 2016). One of the main reasons for our high placement rate is that KLU maintains close contact to companies in the industry and supports its students during their professional orientation process.
We promise all KLU students that they will receive their degree within the regular number of semesters if their academic performance is satisfactory. This is often not possible at state universities in Germany (Source: destatis: Hochschulen auf einen Blick Ausgabe 2016 (Universities at a Glance 2016 edition): median total duration of degree program for bachelor’s and master’s degrees in business administration: bachelor’s: 6.8 semesters; master’s: 11.3 semesters for BSc and MSc degree combined). KLU BSc and MSc graduates launch their careers at least one semester earlier and earn money sooner. Entering the professional world faster almost offsets their entire tuition.
Tuition can be claimed on tax returns in Germany, therefore tax savings can finance part of the degree. In realistic scenarios, the amount of taxes saved can easily exceed €10,000 . Foreign students may claim their tuition fees and further costs in relation to their studies in Germany under comparable regulations according to their national tax laws.
Will KLU help me finance my degree?
KLU offers a limited number of merit-based scholarships. These scholarships cover 50% to 100% of tuition. Applicants are chosen based on outstanding academic performance (GPA less than or equal to 1.5), social commitment, and extracurricular activities. Plus, KLU offers an innovative financing plan called Brain Capital. In this plan, the KLU tuition fund may carry up to 100% of the cost of tuition for the program. Students can pursue their degree without having to pay tuition that exceeds their financial resources. In return, they will commit themselves to making income-dependent payments after graduation.
What does KLU offer in comparison to state universities?
Both KLU students and state university students graduate with outstanding analytical and methodological skills and excellent knowledge of general business administration.
All the degree programs at KLU must pass the same accreditation process as the state universities. Agencies commissioned by the German Council of Science and Humanities verify the quality of the degree programs and the study environment.
Students at state universities often complain about crowded lecture halls, but KLU offers small classes and intensive, personal teaching and support. Students at huge universities often feel anonymous, but KLU encourages an intimate atmosphere of trust characterized by mutual respect.
Students often describe their studies at state universities as too theoretical without any relationship to actual practice. KLU establishes a relationship to practice with project work, planning games, simulations, excursions, and lectures by people who work at renowned companies.
Thanks to tuition and funding from the Kühne Foundation, KLU has a state-of-the-art campus and rooms, up-to-date teaching materials, and a high level of service. State universities often have to make do with out-of-date technical equipment and shabby buildings and rooms.
The curricula at KLU are well organized and planned in detail. Our students graduate after the normal number of semesters, which is often not possible at state universities in Germany (Source: destatis: Hochschulen auf einen Blick Ausgabe 2016 (Universities at a Glance 2016 edition): median total duration of degree program for bachelor’s and master’s degrees in business administration: bachelor’s: 6.8 semesters; master’s: 11.3 semesters). Because they graduate on time, our students launch their careers earlier and earn money sooner.
Can I deduct tuition from my taxes?*
In Germany, tuition can be claimed on tax returns and the tax savings can be used to partially finance students’ degrees.
All master’s degree students can claim all the costs of their degree program as anticipated income-related expenses before graduating and after completing their vocational training, and carry them forward over their time enrolled as cumulative losses – assuming they had no or very little income in that time. Loss carry-forwards make this possible: the losses that students incur because they are studying are offset from their incomes after graduation in subsequent years. This reduces the income for which taxes are due. The costs associated with the semester abroad and tuition are deductible.
It is only possible to take advantage of loss carry-forward if the degree program is a second degree (master’s degree after the bachelor’s or a bachelor’s degree after an apprenticeship). The costs of first degrees can be deducted as a special expense up to a limit of €6,000. Study-related expenses only have an effect in the same year and only result in tax benefits for people whose incomes are high enough that they actually pay income tax in Germany. The Federal Constitutional Court is reviewing the regulation regarding the costs of the first degree. For this reason, students should always claim their study-related expenses as income-related expenses on their income tax returns.
If students participate in the brain capital plan and defer payment of tuition fees, the fees can be deducted as soon as payment is initiated (outflow principle).
*non-committal statement as KLU is not allowed to act as a tax advisor.