Acquiring Finance for Your German Studies: Everything you need to Know

Acquiring Finance for Your German Studies: Everything you need to Know

Acquiring Finance for Your German Studies Although German universities offer tuition-free or low-cost education and affordable living, most international students opt for part-time work to support their living expenses. Preparing and planning finances in advance is crucial for international students to manage this critical challenge while studying in Germany.Acquiring Finance for Your German Studies

Individual Savings Acquiring Finance for Your German Studies

Even if your personal savings fall short of covering the entire cost of studying in Germany, the diligent effort can help you accumulate the required funds to prove financial resources for your German student visa and residence permit. It is advisable to start saving early, as many international students have done, and continue to practice saving while studying in Germany. To meet the visa requirements, ensure your savings are deposited in a German-blocked account before applying for the student visa.

Parental Earnings Acquiring Finance for Your German Studies

If your parents’ earnings are sufficient to finance your studies in Germany, you can present their bank statement as proof of financial resources to obtain the student visa. Higher parental earnings may cover your expenses for the entire course, allowing you to focus on your studies without financial worries, and some families even create personal saving funds for their children to afford education abroad, which can also serve as proof of financial resources. If your savings fall short of the required amount for the visa, they can still help with other expenses during your study in Germany.

Part-time Work in Germany

The majority of international students in Germany work part-time to support their living expenses as the country offers abundant student job opportunities. Legal regulations allow international students to work up to 120 days per year, but specific permission is required for longer durations, obtainable from the local employment agency or foreigners’ registration office. Although part-time job earnings may not cover all expenses, they significantly ease the financial burden, a common practice among students in Germany. To find suitable job opportunities, students can seek assistance from their university’s student service or the Federal Employment Agency in their local area.

Germany’s student loans

International students have the option of financing their studies in Germany through student loans, which offer various benefits with low or no interest rates. Governmental and non-governmental loan resources, as well as university-based loan schemes, are available. However, it’s essential to remember that student loans should be seen as supplementary funds and not relied upon as the sole source of financing, as they may have limitations in terms of repayment time and borrowing amount. It is advisable to explore if your chosen university provides student loans to foreign scholars before seeking loans from other organizations.


Scholarships present an excellent opportunity to finance your studies in Germany, as the country offers numerous scholarships for talented and skilled international students. While relying solely on scholarships might be challenging, they can significantly supplement your budget and cover living expenses during your study in Germany. Given the wide variety of scholarships available, it is highly recommended to actively pursue them.

German scholarship resources

    • The Deutschlandstipendium is a joint initiative of public-private ownership supporting excellent students with financial assistance and additional benefits. Private companies and organizations contribute 150€ per month per student, while the German government adds another 150€, resulting in a total of 300€ monthly for scholarship recipients.
    • DAAD Scholarships, provided by a prominent organization since 1925, offer a plethora of funding and counseling opportunities for talented students in and outside of Germany, benefitting millions of foreign scholars. Numerous scholarships are available for international students through DAAD.
    • Erasmus +, the largest European student exchange scheme, offers appealing opportunities to study in Germany for limited semesters or the entire course. Many German universities participate in Erasmus exchange projects, providing a means to finance studies in Germany through various funding options. Note that some funds may cover living expenses directly during your stay in Germany.

In conclusion, financing your studies in Germany requires careful planning and consideration of various options. By combining financial resources and being proactive in seeking opportunities, students can ensure a successful and enriching experience in their German studies.

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