Getting admission to German universities is nothing short of a dream come true for international students, as these universities are charging zero to minimal tuition fees for one of the world’s most reputed education. The cost of living is also far more reasonable when compared to the United States or the United Kingdom, which attracts students across the globe to fight for their place in these universities.

Unlike the earlier days when showing your financial capability to fund your studies abroad was complicated and takes time, it is no longer so. The procedure has become so flexible, the opening of blocked accounts doesn’t take a visit to German embassies anymore to exemplify.

Even though you are getting a cut on the tuition fees, living expenses in Germany are quite comparable to those in the UK or the US. That calls into a need for managing your finances properly and the early you start the better it is. Expenses being a student in Germany will vary depending on the place of living, choice of food and a lot more. On average an international student in Germany will be looking forward to spending €1500 per month on his expenses, cumulative to €18000 on an annual basis. You are expected to pay around €400 per semester as an administrative fee to the university as well.

This sum is not meager and needs to have sources to show, especially when you are applying for the visa. Before admissions, you are supposed to deposit your one-year living expense upfront in a German blocked account as well. Now that you know your expenses, you should know ways to source the funds for your German dreams.

1. Parental income

If your parents earn enough or they have made a savings fund to cover your educational expenses, then it will be a great opportunity for you to ponder your German education. All that you need is proof that this money belongs to your parents and it will be sufficient enough to fund your studies. A bank statement will be more than enough for the German embassy as proof.

The proof you submit should make it clear that studying in Germany is by no means to burden you financially, if that’s the case your visa can summarily be rejected. You don’t need to worry if your parental income doesn’t meet your expenses, you can put your savings into the same to meet the minimum requirement as well.

2. Personal savings

It is obvious that none of us has the financial standing to fund our studies in Germany, but at least the blocked account deposit can be accumulated over time. What if German universities are your long term goal? You will start saving from the day you made your mind for the admission, which will at least suffice for the blocked account amount. Even though the amount deposited in the blocked account can cover your living expenses, you are entitled to receive a fixed €861 per month.

The sum will meet your basic requirements in Germany and ways will help you pay your tuition fee or your luxury lifestyle, which calls in for the need for proper financial planning and execution. The amount helps you lessen the burden on your shoulders to a good extent provided that you stick with your budget.

3. Education loans

Those who are unable to fund their studies with their personal or ancestral savings opt to take loans from the banks to fund their education in Germany. They are entitled to repay the same after their term of the course. Many banks in India offer these services.

You have the option to secure loans from the universities as well. Student loans charge lesser interest comparatively from zero to a minimum. International students can depend on governmental-funded and non-governmental funded student loan resources to fund their plans. Apart from these popular sources, you can reach out to your university as some of them have the funds to support the education of their students considering the caliber and repayment potential.

These public student loans have a drawback, as you need to repay the money sooner when compared to other schemes. Do remember there is a limit for borrowing and hence you cannot depend solely on this source. You can see it as a complementary fund that you can reach for help just in case you are falling in short. It is noteworthy that you are reaching the right door for a loan in Germany. Some of the institutions that offer loans are:

  • BAföG     

It is the Federal Education and Training Assistance Act meant for talented students to reach out for help in case of a personal financial emergency. It is a 4-decade old institution that has served millions in the past.

  • Bildungskredit

A fund from the German government is associated with private banking institutions. Unlike the former, those who are in their higher stages of education have access to this fund. The loan carries a low-interest rate and has a moderate repayment period as well.

  • Bank loan

The Deutsche Bank, Raiffeisenbanken, Sparkasse, HypoVereinsbank are some of the popular banks in Germany which offer Assistance to foreign students in Germany in case they need funds. These established banks have attractive rates of interest and any international student can look forward to these banks for help.

4. Part-time works

Over 60% of international students in Germany work part-time to meet their living expenses. Students have access to opportunities to work part-time depending on their skills and exposure up to 120 days in a year. To work more than these lawful hours you need to get specific permissions from the local employment agencies and foreign registration department or if your work has been considered mandatory as per the regulations.

As you are free to work full day during the semester breaks, it will take some serious burden off your shoulders considering you have taken a student loan.

5. Scholarships

It is not a likely option for many but considering the opportunities in Germany, who knows you are eligible. These international aids can be used for personal expenses as the tuition fees are minimal. Governments are offering essentials at subsidized rates for students in German which will reduce the burden of expenses. You can apply for public and private grants as well.

Some of the famous scholarships include:

  • The Deutschlandstipendium
  • DAAD Scholarships
  • Erasmus +
  • Other privately-funded scholarship awards such as Max Plank Society Research, Heinrich Boll Foundation Scholarship, DKFZ International PhD Program etc.


  • Is studying in Germany free?

No. Though most German universities don’t charge a tuition fee, they charge an administrative fee plus the cost of living in Germany doesn’t make German education free.

  • Are off-campus jobs legal?

Students can work outside the campus but it will be better if you could confirm with the university before applying. There are many on-campus jobs available according to their potential and skills.

  • What is the average monthly expense in Germany?

Every student must be looking at around €1500 per month to fund their expenses in Germany. Around €850 can be redeemed from their blocked account and the rest should be sourced from elsewhere.

  • Is there a possibility to get loans from German banking institutions?

There are different loan options available for international students depending on their needs, but a shorter repayment period is the catch.