The present thesis analyzes student stipend selection decisions in Germany. Subsequent to a comprehensive literature review as well as a theoretical discussion (both sociologically and economically), determinants of stipend selection success are analyzed empirically using a data set provided by the German Academic Exchange Service (DAAD). In order to distinguish supply- and demand-side effects, the empirical part starts with a descriptive comparison of the (positively self-selected) applicant pool - comprised of 504 applicants - to the entire German student body. Subsequently, the binary dependent variable (stipend awarded: yes/no) is empirically analyzed with the use of differing logistic regression models. In the present thesis, stipend success is not only explained by several signals provided by applicants (e.g. grades, extracurricular activities etc.), but also the influence of individual applicant and rater characteristics (such as age or gender) as well as extraneous factors (e.g. interview framework) is tested simultaneously. The present thesis represents the first comprehensive empirical investigation of student stipend selection (in Germany).