Practical Tips for Financing Your Studies in Germany 2024-25

FINANCE YOUR STUDY IN GERMANY

The universities in Germany for international students charge very moderate or zero tuition fees from them. All they charge from you is a semester contribution ranging anywhere between 300-500 Euros. This semester contribution comprises of your travel costs, meals, sport equipment, etc. Despite the fact that German universities cost low or no cost tuition fees and a very low cost of living in Germany, majority of the international students still opt for doing part-time jobs in Germany. Taking care of your expenses is something every international fellow should be concerned about. Better would be if you start managing your expenses right from the commencement of your educational year and make a plan on how you will be maintaining the expenses during your entire educational journey.

Before you begin with yourstudies in Germany, you must ensure that you have a sum of 8,700 Euros to sustain yourself for 1 year. To confirm this, they ask for a document called “Finanzierungsnachweis” which is a proof that the candidate has the required funds to sustain for at least 1 year. This document is demanded from most of the international students as it is a crucial part in fulfilling the Germany student visa requirements and unless you have it, you can’t get a student visa in Germany. Following are the ways through which you can proof that you own 8700 euros:

You can submit your parent’s document certifying their earnings and economic assets.
A permanent Germany resident can confirm the Alien Registration Office to bear your cost of living in Germany.
As an assurance, a security payment can be deposited into a blocked account.
A bank guarantee can be submitted by you.
You can present a scholarship award notification from a recognized scholarship provider.

So here comes the theme of the dialogue, how you will be financing your studies? Here we have sorted out some ways which may assist you in take care of your daily bills and how to alleviate you study in Germany cost.

PART TIME JOBS

The German laws allow international peeps to work part time for a period of 120 days (Working full time) or 240 days (Working part time) in a year. Call Germany an ocean of opportunities when it comes to jobs for students and dive into this ocean to make a living in Germany on your own. Many of them do not require a high level of expertise in a specific area. Surprising thing is that 60% of the international students are currently engaged in part time jobs in Germany. However, you shouldn’t be depending wholly onto these part time chores as they won’t be able to feed your every expense. But they might come to assist you in alleviating your financial burdens to some extents. While you have your University breaks, you can seek for full time employment and work for longer hours in case your work is regarded as a mandatory one in context of certain legalizations.

As far as finding a suitable job is concerned, you must go for the one which is somehow pertinent to your field of study. In such case, you are bearing your expenses but adding some credentials to your resume too! For instance, if you’re studying computer engineering, then seek a job at a computer science lab. Or if you fall in those extreme category where you can’t find anything concerned with you field of studies, then go with the contents in the list below-

Tutor
Academic assistant
Administrative Staff at Student Services
A staff member at university’s history museum
Newspaper distributor
Waiter at a café or a restaurant
Babysitter

SCHOLARSHIPS

Scholarships are again a great opportunity to manage your studies in financial terms. With a huge number of international students arriving in a foreign country, isn’t it likely that the Universities have for them scholarships programs as an offering? Well if we are talking about Germany, it is indeed! Being a country greeting thousands of international folks every year, Germany offers scholarships to the talented and skilled ones so that they don’t face any hurdle during your studies. Although you again can’t rely on scholarships alone, they will certainly act as a big part of your budget that will ultimately help you go through your expenses. And being available in lot of variety, it would be advised to get your hands on one of them.

There are a few recognized sources responsible for granting scholarships to students. These are the Deutschlandstipendium, DAAD Scholarships, Erasmus, etc. The institution in the first place chip in an amount of around 150 Euros by private sectors monthly for each student while another 150 Euros is contributed by the public sectors, making it a whole 300 Euros monthly for an international student. On the other hand, the DAAD Scholarships aim to take the German Universities to a global platform by way of attracting students through countless funding policies and counseling policies. Since its establishment in 1925, it has benefitted millions of international students.

EDUCATIONAL LOANS

One more way to finance your studies in Germany is through educational loan. The international students are more fortunate when it comes to educational loans as they enjoy more benefits if compared to the natives. Educational loans can be availed from both publicly and privately funded institutions to finance your studies in Germany and these loans are further offered at a very low rate of interest and sometimes, zero rate of interest. Many German Universities too have introduced their own educational loan program to establish an effective support system.

The educational loans offered by publicly funded institutions charge no interests at all, the privately funded institutions may charge a moderate amount of interest. Apart from a particular rate of interest, there might be some condition for these loans such as paying the amount in a specific period of time, etc. Again, do not rely on educational loans as they also would be able to bear your expenses only to some extent.

SCHOLARSHIP TEST

MOKSH holds an Online Scholarship Test every year where in the students get the NEXT Online Coaching on a huge discount or even 100% scholarship which otherwise costs more than Rs.1, 25,000. It is a 360 marks MCQ test focused on the 12^thBoard exams syllabus.

The students who register with MOKSH for MBBS Abroad get a higher priority in the scholarship test. You can call on 9699360370 to get further information on the scholarship test of 2018!

Why Study in Germany through MOKSH?

MOKSH is one of the top education consultants in Mumbai. There are very few overseas education consultantswhich represents Study in Germany on such a large scale. An already existing list of Study in Germany consultants is present in India. There are many consultancies in Hyderabad and other Indian cities. MOKSH is one of the best. Thus, along with Mumbai, it also serves as a consultancy in Hyderabad and other cities.