Study Destination

Student Funding: Ways To Finance Your Education In Germany

Yocket Editorial Team

Germany is regarded as one of the best countries in the world for international students. This is mainly because of quality education, affordability and quality of life. Living and studying in this stunning European Country is an irresistible temptation. However, studying in Germany comes with a set of challenges in terms of finances. Therefore, in order to experience a stress-free student life in Germany, you have to answer the big question of how you finance your stay in Germany? The good news is that financing your studies in Germany is not as a big a hassle as it was some years back. Today, there are many ways you can take care of finances in Germany until you’re ready to take on your life.


Table of Contents:

  1. Financial Benefits of Studying in Germany
  2. How much will you spend in Germany as a student?
  3. 5 Ways To Finance Your Study in Germany As An International Student

Financial Benefits of Studying in Germany


For international students, studying in Germany has several advantages especially on the financial front. Here are a few of them:


  • Most public universities in Germany are extremely affordable and charge zero to minimal tuition fees.
  • The cost of living in Germany is much lower than in countries such as the USA or UK.
  • There are multiple ways to finance stay and education in Germany for international students including scholarships, part time jobs, etc.


So, let’s go ahead and discuss the cost of studying in Germany and the ways to finance it -


Student Life Expenses In Germany: How Much Will You Spend in Germany?


Students deal with a number of expenses while studying abroad. From the rent of their home, dorm or hostel to their education, they have to spend for each one from their own pocket. And while we are on the topic of how you can fund your stay in Germany, isn’t it obvious that you first need to know what you are actually going to spend on?


Your monthly expenses other than the tuition and semester fee include:



Cost per month


300 -  700 EUR

Food and drinks

150 -  200 EUR

Education, stationary and others

100 - 250 EUR


0 - 100 EUR


200 - 300 EUR


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Therefore, on an average, you will need about 850 - 1500 EUR per month as a student living in Germany. If you choose to live a lavish lifestyle, the cost obviously increases. However, this is what your basic expense chart of Germany will look like.


REMEMBER: Although most public Universities in Germany (barring the ones in  Baden-Württemberg) charge no tuition fee from students, they may charge a small fee of around 350 EUR per semester as administrative and other fees. So, this too forms a part of the total cost of the student.


RECOMMENDED: What is the Cost of Studying in Germany?


Now that we know about the cost, it's time to discuss some of the possibilities of financing your stay in Germany -


5 Ways To Finance Your Study in Germany As An International Student


As an international student studying in Germany, funding your studies, lifestyle and other expenses are an important part of your student life. The German Blocked bank account helps you in your time of need in Germany. However, the German blocked account too has limitations. You are allowed to withdraw only 861 EUR per month. This means that you will still need more money to survive in Germany as a student.


So, here are 5 ways to manage finances for your higher studies Germany:


  1. Personal Savings


Many students start saving early on to fund their education abroad. If you’re interested in pursuing your masters in Germany, we suggest you start saving the latest by the beginning of your bachelor’s education.


The amount might not be wholly sufficient to meet your expenses but it will certainly lift some burden off your shoulders. So, you can use your personal savings to fund your student finance in Germany. 


  1. Parental Income


If you haven’t signed up for savings, your parents can help you fund your education and stay in Germany. You could use these funds and provide the required bank statements to prove your finances.


Sometimes parents also create a savings account to fund their children’s education in the future, if you have such a situation, you could use the amount to sustain yourself in Germany. 

Suggested: Ways to fund your Foreign Education

  1. Education Loan


You can also get an education loan to fund your education. A majority of students who don’t have enough money to fund their education, take up a student loan and pay it back later. Many banks in India as well as abroad provide loans to study.


You could also take up a student loan in Germany through the university. Some universities roll out different types of student loans to help students pursue their education without any financial hurdles hitting their way. Education loans have low-interest rates that make it easier for students to pay them back in time.


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  1. Scholarships and Grants


Even with nil or low tuition fees, there are many other expenses that come your way as you plan to study abroad. To cope with the same, many international German scholarships are granted to students every year. This is a great way to fund your expenses in Germany.


Some of the scholarships you can apply for are:

  • DAAD WISE Scholarship Program
  • Konrad-Adenauer-Stiftung Scholarship
  • Heinrich Boll Scholarships
  • Kofi Annan MBA Scholarships
  • ESMT Women's Academic Scholarship
  • Goethe Goes Global Scholarships
  • EMS Undergraduate Scholarship
  • Master Scholarships at University of Stuttgart
  • WHU-Otto Beisheim School of Management, International Scholarships
  • DLD Executive MBA Scholarship


In addition to scholarships for Germany, the government also offers many student grants to ease your expenses. Students are also offered subsidized rates on many essentials in Germany.


Explore: Talk to a Yocket professional (over a FREE consultation call) to plan your study abroad journey to Germany  


  1. Part-time Jobs


Apart from the ways of financing provided above,  one of the most common ways to manage your expenditure in Germany is by taking up a part-time job. Many international students earn money through part-time jobs, making their life easier in Germany.


International students in Germany are allowed to work for about 20 hours per week and about 120 full days (or 240 half days) per year. However, it is recommended that you take up jobs in your field of study to experience practical learning and add value to your field of education. Students can earn up to 450 EUR per month without paying taxes in Germany. If you earn above 450 EUR is taxed.


Students can easily find part time jobs in Germany through ads, university notice boards, Online ads and student job exchange programs. By working part-time in your field of study, you will practically be part of your future job and also make an extra income. For instance, if you’re pursuing your Masters (MS) in Computer Science & Engineering in Germany, you can take up coding jobs, internships or even be a coding tutor to other students. 


Other than your own field of study, you can also take up other part time jobs in Germany, such as:

  • Tutor
  • Academic assistant
  • Administrative Staff at Student Services
  • A staff member at the university’s history museum
  • Newspaper distributor
  • Waiter
  • Bartender
  • Babysitter
  • Dog walker
  • Librarian, etc.


Suggested Read: Part time jobs for International students in Germany


A part-time job or a scholarship  to study can certainly reduce the financial burden on you. If you just look for student finance Germany, you will get an array of banks that provide a student loan. Many students also get successful jobs in Germany after Masters and graduation making this one of the top desirable studies abroad destinations among students.

Frequently Asked Questions about Student Finance Germany

Is studying in Germany free for international students ?

Can international students get off-campus jobs in Germany?

What are some of the part-time jobs in Germany?

How much will I spend in Germany?

How can I finance my study in Germany?

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