Germany is often a great option for international students looking to study abroad, but those from outside the EU can feel dissuaded when confronted with the cost of study. However, there are a few options available which can provide some financial relief.
In this article, we will explore the different types of funding available and give advice on making the most of your international student loan. We will also discuss how you can access each funding option and use it to finance your studies.
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The Cost of Studying in Germany
Studying in Germany is an amazing experience, offering world-class education and incredible cultural experiences. However, like most of the developed countries, studying in Germany can be expensive. International students must factor tuition, travel, living costs, insurance, books, visas and other expenses before deciding to study in Germany
Here are a few estimated expenses associated with studying in Germany:
- Tuition fees can range from 0 EUR to €20,000 Euros per academic year, depending on your field of study and university.
- Monthly expenses including rent, food and social activities will cost approximately €725 to €850 or higher.
- Books and course materials can add up to €1000 or more per year.
- A student visa usually costs €60-100.
- Insurance ranges from €50 to €200 a month.
- Travel costs to and from Germany.
The total estimated cost for an academic year can range from €9,000 to €25,000. It is important to research your program thoroughly and understand the related costs before you apply and commit to studying in Germany.
For international students who are looking for ways to fund their education in Germany, there are a number of options available. This article will explore some of these funding options.
Types of German Study Funding Options
Germany is a nation at the forefront of education, as it is among the top countries for studying abroad; this means there are numerous funding options for students from around the globe. For those looking for financial assistance, here are some ways to access funding for a higher education in Germany
DAAD Grants
DAAD (Deutscher Akademischer Austauschdienst) grants help fund international students who wish to pursue studies, research, or work experience related to their field in Germany. DAAD grants tend to be amongst the most competitive study funding options, as they offer long and short-term general funding for students, researchers, academics, and professionals.
BAföG
BaföG (Bundesausbildungsförderungsgesetz) is the German Federal Education and Training Financial Assistance Act. It offers funding to both international and domestic students who are full-time students and have some connection to Germany. Examples would be having a German residence permit, work permit, or having German citizenship. International students may receive up to EUR 300 monthly in BaföG funding.
Educational Loans
The educational loan option is one of the best options for international students looking to study in Germany. Educational loans can be provided both by international or domestic banks. These loans usually cover tuition fees, living expenses, or both. The repayment period and interest rates can vary by bank or other financial institution, so it is important to shop around and determine the best option for your specific needs.
Scholarships
Scholarships are another excellent way to fund your studies in Germany. These are competitive and require a solid academic background. Scholarships are typically divided up by country, and many German universities offer scholarships to international students. Some scholarships may cover most, if not all, of the educational expenses.
Grants from Universities and Foundations
Some universities and foundations in Germany offer specific grants and scholarships for international students. These grants may be awarded on a competitive basis or may be based on a student’s financial need. It is important to thoroughly research these funding options and contact the universities directly.
Studying abroad is an incredibly rewarding experience for many students, and pursuing funding options is one essential step in the process. With the various German study funding options available, all kinds of students can find the financial assistance they need to make their dreams of studying in Germany come true.
How to Find a German Scholarship or Grant
Studying in Germany can be a great way to expand your educational horizons and experiences. With a number of universities, rich cultural history, and unique language, it is an ideal setting for international students. While it has its own set of advantages, the cost of studying abroad can be a huge factor for many students. Fortunately, there is an array of scholarships and grants available to help students defray the cost of studying in Germany. In this article, we will explore some of the top options for funding your studies in Germany.
Find a Scholarship from the University
The first step in exploring financial options is to research scholarships and grants available directly from the university you wish to attend. Some of these scholarships are awarded based on academic merit, while others are awarded based on financial need. Contact the university’s scholarship office to learn more about the available options.
Seek Out International Funding
In addition to scholarships offered by the university, there are various opportunities for international funding. For example, the DAAD, or German Academic Exchange Service, offers scholarships for students from abroad. These scholarships range from short-term academic courses to Ph.D. programs. Additionally, the Erasmus+ program offers funding for studies, internships, and research in Germany. These are just two of many potential sources of international funding available to students.
Take Advantage of Private Foundation Scholarships
One of the most overlooked methods of obtaining scholarship funding for studying in Germany is through private foundations. These are usually organizations dedicated to supporting the higher education goals of individuals. Additionally, many of these foundations have connections to German universities, and offer well-funded and highly competitive scholarships.
Here are some of the top private foundations offering scholarships for studying in Germany:
- The Alexander von Humboldt Foundation
- The Robert Bosch Foundation
- The German Academic Exchange Service (DAAD)
- The Volkswagen Foundation
- The Stiftung Charite
Seek Out Other Funding Sources
Other sources of funding include government-sponsored grants, sponsor organizations, and online crowdfunding campaigns. Some of the more popular organizations include Go Abroad, Erasmus+, and Access Scholarships. Additionally, some universities offer discounted tuition rates for international students, or have programmes specifically designed for students coming from abroad.
Exploring every available funding option is the best way to ensure that you get the financial help you need for studying in Germany. With the right scholarship or grant, an international student can begin a life-changing journey of learning and discovery.
Conclusion
Studying in Germany is an exciting experience and a great opportunity to discover a ‘new’ culture and learn a new language. When it comes to funding your studies, there are various grant and loan programmes available through different organizations both in Germany and internationally. It is important to explore these options thoroughly and decide which one best fits your requirements. With the right plan and preparation, you can make studying in Germany a reality.
To summarize, studying in Germany can be expensive but there are many funding options available. Depending on your particular financial situation, there may be loan and grant programmes available to you to help cover your costs. Be sure to thoroughly investigate all your options to ensure that you can obtain the best outcome for your studies in Germany.
