How much money do I need?

According to the Federal Training Assistance Act (BAföG), for students a minimum of 934 euros per month or 11,208 euros per year must be available for the stay in Germany.

For student applicants according to Art. 17 German Residency Act, a minimum of 1,027 euros per month is required.

Proof of finance must be submitted for the first year of the planned stay. There are different possibilities:

Blocked account

The amount of money required for one year is transferred to a blocked account. The account holder can then only use 1/12 of this amount per month.

Generally, a blocked account can be opened at any bank/financial institution that is permitted to conduct banking transactions in Germany. You can choose the provider.

Open the blocked account BEFORE you apply for a visa. When applying for a visa, only the official opening confirmation stating the total amount paid in and the monthly available amount will be accepted. A confirmation without mentioning these amounts is not sufficient.

Third Party Financing

In a declaration of commitment, a person declares their willingness to assume all costs incurred during the student’s stay in Germany. A declaration of commitment is only possible if the person making the commitment lives in Germany. The foreigners authority responsible for the place of residence of the person making the declaration is responsible for accepting a declaration of commitment. The declaration of commitment must not be older than six months and must contain the note “creditworthiness verified” (“Bonität nachgewiesen”).

If you receive a scholarship for your studies in Germany, please submit a confirmation showing the amount of the scholarship. Is the monthly amount of your scholarship less than 934,00 Euros, please submit appropriate bank account statements to prove that you can cover the remaining amount.