Money is crucial for supporting our live, isn’t it?
This blog post was written based on our own team’s personal experiences living in different parts of Germany, as well as first-hand accounts from some of our former and current students.
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If you are young and don’t have much experience in making money, your family is likely going to be your main source of financial support. In order to get a visa to study in Germany, you will have to present financial proof to the German embassy that shows you can support yourself in your first year. Starting from 2020 you must deposit €10,236 to support yourself in the first year in Germany.
Let’s do some Math! Assuming you will need 1 year to get enrolled in a Germany university and 3 years to get your bachelor’s degree from a public university. In that case you will need €40,944 (you will probably need more). It is not a small amount of money, and these are only your costs of living.
If you will study in a private university, you will have to add €2,000 up to around €20,000 per annum. Adding the tuition fees costs of private university your total costs for 3 years studying in Germany will cost you between €46,944 up to around €100,944.
If you are a parent reading this article, we recommend you to plan ahead.
Mini / Part Time / Full Time Job
There are multiple opportunities for you as a student to work in your free time or take advantage of the summer vacation to get extra cash to support yourself.
You have three options to choose from, as you are allowed to work in Germany for 120 days full time or for 240 days part time only.
First option is a Mini Job, it is €450 basic monthly salary Job. Typically, it will be a minimum wage job for around €10/hour for two times a week on the weekend. You don’t pay taxes for a mini job.
Second option is a Part-time Job. we believe it is the best option for every student, as you usually get a steady monthly income, you can always work extra during semester vacations. You pay 10% Student Tax.
Third option is a Full-time Job. Don’t do it during semester time! There is a reason that working full time is only allowed for 120 Days a year. You are in Germany to study, that’s the goal. Your studies are theoretical, and work is practical even if it is different from your major of study, you will get valuable life experience. But don’t overdo it!
Scholarship in germany
The scholarship applicability depends on whether you are doing your bachelor’s or master’s program. Most of the scholarships are based on your academic scores. Therefore, it is extremely important to get good scores during the university and pre-university educational stages.
You can directly apply to universities for any scholarship programs that they are offering. Make sure to thoroughly check the application requirements, deadlines, application procedure, selection criteria as well as language requirements that may be posted on the scholarship page.
There are various events and educational faires in German universities. There, you would find representatives for every scholarship program who may be able to provide you with more information or answer a specific question regarding your individual case.
If you are willing to apply for a scholarship, there are career counselling options available, one can directly set an appointment with them and ask them for help and get all the necessary information.
BAföG the Bundesausbildungsförderungsgesetz is Germany’s Federal Training Assistance Act for students at secondary schools and universities in Germany. They provide financial support for students during their studies in German universities. It is strictly for EU citizens and would require that you share financial documents about yourself, your family, or the person who is financially supporting you.