Studying in Germany: How to Pay for It

Posted date: 14 Mar 2022

When it comes to money, Germans are known for being meticulous, and this applies to funding student life. One of the most difficult tasks you'll face as an international student is managing your money. It's best to start thinking about your finances and how you'll cover your living expenses in Germany as soon as feasible. When you come to Germany to study, you must provide documentation that you will be able to support yourself throughout your term.

Here are some funding alternatives for your studies in Germany:

Individual savings: Even if your own savings do not cover the full cost of studying in Germany, with a little work, you may save the minimum required amount of money to show that you have sufficient financial resources to obtain your German student visa and residence permit. Because this sum cannot be obtained overnight, it is strongly advised that you begin saving sooner rather than later.

Parental earnings: You use it as proof of financial means to secure your student visa if your parents earn enough to fund your studies in Germany. The German embassy will ask for a bank statement to confirm that the funds belong to your parents and that you will be able to finance your education and living expenses in Germany. This is a fantastic opportunity for you to fully commit to classes while not having to worry about money.

Germany's education loans: Student loans are another option for funding your studies in Germany. International students have access to a variety of benefits, one of which is student loan programmes. Various governmental and non-governmental student loan resources are available to help you finance your education in Germany by offering zero or very low-interest loans. Furthermore, many German universities have created their own student financing programmes to assist international students.

Scholarships: Scholarships are another wonderful method to financing your study in Germany. Many scholarships are available to talented and skilled students in this country, which welcomes a significant number of international students.

Working in Germany on a part-time basis: To pay for the daily expenses, the majority of international students in Germany work part-time. When it comes to student job prospects in Germany, there are a plethora of options, and most of them don't even demand a higher degree of competence in a certain professional field. Nearly 60% of international students in Germany work part-time, which comes as no surprise.

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GSP Admin