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Thinking about studying in Germany? It’s a smart move! In Germany, most universities don’t charge tuition fees, and the overall cost of studying is lower than in other European countries like the Netherlands, Switzerland, or France.
However, there’s a small hoop to jump through. To secure your German student visa and residence permit, you’ll need to prove you can cover your expenses for at least the first year of your studies.
As of January 1, 2023, and continuing into 2024, this means having approximately €934 per month or €11,208 for the entire year. This amount should cover your accommodation, food, insurance, transportation, and other essentials.
Discover if you need to provide proof of financial resources and the available options for meeting this criterion.
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Who Needs to Provide Proof of Financial Resources?
If you’re coming from another country to study in Germany and need a student visa or residence permit, you’ll have to show that you have enough money to support yourself while you’re here. This is known in German as the “Finanzierungsnachweis”.
Depending on your nationality, you may or may not need to provide proof of financial resources to study in Germany:
| Country of origin | Proof of Financial Resources |
| Citizens of European Union (EU) countries, Liechtenstein, Iceland, Norway, and Switzerland | Not required. |
| Citizens of non-EU countries that need a visa to come to Germany | Required when applying for a student visa. |
| Citizens of Andorra, Australia, Brazil, Canada, El Salvador, Honduras, Israel, Japan, Monaco, San Marino, New Zealand, the Republic of Korea, the United Kingdom, and the USA | Required when applying for a residence permit. |
How to Prove Financial Resources for ֲý?
You can demonstrate proof of finances for the German student visa or permit in a few different ways:
- Depositing money into a German blocked account.
- Providing proof of your parents’ income and financial assets.
- Presenting confirmation that you’ve been awarded a scholarship from a recognized provider.
- Presenting a bank guarantee.
- Having a permanent resident in Germany guarantee to cover your expenses.
German Blocked Bank Account
Most international students in Germany rely on a blocked bank account to show they have enough money to support themselves.
A blocked bank account, also known as a Sperrkonto in Germany, is a type of bank account that “blocks” a specific amount of money that you deposit upfront, which you can’t access until you arrive in Germany. Once you arrive, you’re allowed to withdraw up to €934 per month to cover your living expenses.
There are several providers of blocked accounts, but we highly recommend Expatrio. It’s accepted by all German authorities globally, and the online application process takes just a few minutes.
Proof of Parental Income
If your parents have enough income to support your education in Germany, you can use their earnings as proof of financial resources when applying for a German student visa or residence permit.
Typically, the embassy might ask for your parents’ bank statements for the last three months. They may also request a copy of your parents’ employment contract to ensure you have enough funds to attend university in Germany.
Scholarships
If you receive a scholarship that covers the required funds for studying in Germany, you can use it as proof of financial resources when applying for a student visa.
Before including it in your visa application, you must obtain a document confirming your scholarship from a recognized provider. The document must include the amount and duration of financial support.
Some popular fully-funded scholarships for studying in Germany include:
- DAAD Scholarships
- Konrad-Adenauer-Stiftung Scholarship
- Heinrich Böll Foundation Scholarships
- Erasmus+ Scholarships
A Bank Guarantee
A bank loan can also serve as proof of funds when applying for a student visa at the German embassy. In regions with high numbers of students heading to Germany, banks often offer student loans with low-interest rates.
You can also explore bank guarantees, also known as “üڳ,” depending on the bank. This type of guarantee ensures that the bank will cover your financial obligations during your studies in Germany. Essentially, the bank agrees to step in and pay if necessary, often at a lower cost compared to a standard loan, earning a commission for assuming the risk.
Guarantee from a Permanent Resident in Germany
A ձڱٳܲԲäܲԲ, or Guarantee from a Permanent Resident in Germany, is a promise by a German citizen, permanent resident, or EU citizen in Germany to support you financially. Usually, it’s a close family member who vouches for you due to the significant commitment.
The sponsor must provide documents like a bank statement and proof of address at their local Ausländerbehörde (Immigration Office). Typically, they should submit the commitment no earlier than 6 months before your visa appointment.
Remember that if someone promises financial assistance while you’re studying in Germany and you receive support from government agencies, they must reimburse them within five years.
Providing the Source of Funds and Additional Proof
In certain cases, the German authority where you apply for a student visa or residence permit may request additional evidence even after you’ve submitted proof of funds. Such scenarios can include the following:
A Contract with a Commercial Business
If you have a contract with a business in your home country that vouches to support you financially, German officials may request detailed information about the company. This could include documentation to verify the company’s legitimacy or specifics about the terms and conditions outlined in your contract with them.
Scholarship Received in Your Country
If you’ve received a scholarship in your home country, German institutions usually ask for proof that the scholarship provider is credible. This could mean providing official letters, certificates, or any communication from the scholarship provider confirming the scholarship’s legitimacy.
Source of the Funds in Your Bank Account
If you deposit a significant amount of money into your bank account, German institutions may inquire about its source. For instance, if you’ve been employed full-time for several years and saved up for your studies, you can provide evidence such as a long-term job contract and bank deposit statements.
That’s why the blocked account is usually required instead; authorities want to ensure the deposited funds are genuinely available for your expenses in Germany, rather than being temporarily transferred just to obtain the visa and then returned to the lender.
Financial Proof for Extending Student Residence Permit in Germany
If your student visa or residence permit is about to expire and you want to keep studying in Germany, you will need to apply for an extension at the local Immigration Office (Ausländerbehörde).
This process involves submitting documents related to your academic status and providing proof of financial resources.
When applying for an extension, the Ausländerbehörde is typically more lenient about proof of finances in comparison to when you’re applying for the initial issuance of the study visa or permit.
Proof of finances requirements may vary from one office to another, but they can accept these additional forms of proof besides the blocked account, scholarship, and guarantee:
- Savings in your bank account. You must submit statements for the last six months.
- Work contact. If you’re financing your studies through part-time work, you can submit your employment contract as proof of financial resources. If your income is less than €934 per month, you must prove you have the remaining funds through savings.
Frequently Asked Questions (FAQs)
Here are some frequently asked questions related to financial resources to study in Germany:
When to Submit Proof of Financial Resources for Germany?
You need to show proof of financial resources when you apply for a student visa or residence permit in Germany. This means that this requirement comes after you’ve been accepted to a German university, so it won’t interfere with the application process.
However, it can take time to gather the necessary money for your studies, so it’s essential to keep this in mind when deciding to study in Germany.
How To Demonstrate Financial Resources if I Plan to Work Part-Time While ֲý?
Unfortunately, solely planning to work part-time while studying in Germany isn’t considered sufficient proof of financial resources. The German authorities require concrete evidence that you can support yourself from day one.
Finding work can take time, and you’ll have immediate expenses upon arrival, such as semester fees, health insurance, and accommodation.
Therefore, unless you’ve already secured a job and saved money, it’s crucial to explore other options. Consider looking into scholarships or obtaining financial guarantees from sponsors to strengthen your application.
What if I Can’t Prove I Have Enough Money to Study in Germany?
If you’re unable to show enough funds for studying in Germany, getting a student visa or residence permit could be tough. And this is not just a pointless bureaucratic requirement; it’s about ensuring you can truly afford to live and study here.
Without enough funds, you might struggle to cover basic expenses like housing and food, which affects your quality of life and ability to focus on your studies. In such a situation, if you can’t find other options, it’s best to wait until you have enough funds secured.
Where Can I Find More Information?
If you have more specific questions throughout the process, your first relevant addresses should be the following offices:
- The German embassy or consulate located in your home country ().
- The Immigration Office (Ausländerbehörde) in the German city where you settle in ().