Germany is increasing the blocked account amount for international students while applying for a study visa. Since January 2023 international students are expected to show funds of 934 EUR per month or 11,208 EUR per year. From September 2024, the amount is expected to increase to 992 euros per month or 11,904 euros for a year.
If you come to Germany from outside the EU or the European Economic Area (EEA), you will be required to present proof of financial resources already when you apply for a study visa. This serves as a guarantee that you can afford the cost of studying in Germany. Essentially, you will need a temporary residence title for the purpose of studying, you have to prove that you have the financial means to study and live in Germany.
Some of the acceptable forms of proof include proof of parental income, an allocated amount on a blocked account (Sperrkonto), or proof of receipt of a recognised scholarship.
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Proof of Parental Income
Proof of parental income is an income statement indicating a person’s financial situation. It usually consists of the individual’s last three salary statements. An employment contract can also serve as documentation, though some employers may not allow for it to be disclosed. An income statement is required, for example, when applying for a loan or before signing a tenancy agreement.
Blocked Account
Students can open a ‘blocked account’, however, only a certain sum of money can be withdrawn from a blocked account every month. The foreigners’ authorities accept a blocked account as proof that international students can support themselves financially. There should be enough money in the blocked account to finance one academic year.
Many international students use a blocked account to finance their studies in Germany. It’s called a “blocked account” because the money deposited into the account cannot be withdrawn until you have arrived in Germany.
Scholarships in Germany
Scholarships are designed to support especially talented students as well as students in need. A wide range of organisations in Germany accept applications for scholarships. They select their scholarship holders mainly based on academic, social or personal characteristics, and provide them with a specified amount of financial support. There are also subject-related scholarships that are awarded by research institutions, companies and private individuals.
Numerous institutions in Germany provide financial support on a monthly basis to students who meet certain requirements (e.g. extraordinary grades or commitment to social responsibility). However, you need to be aware that scholarships in Germany are rarely awarded from the first semester onwards. Students in higher semesters and doctoral candidates from abroad can apply for the DAAD scholarship. Some private institutions also provide support for students from abroad.
Friends or Relatives in Germany
Alternatively, you can ask friends or relatives in Germany to hand in a Declaration of Commitment for you at the foreigners authority. Therefore, you might not have to submit proof of your own savings when applying for a visa. Someone with permanent residence in Germany can guarantee the Alien Registration Office to cover your expenses.
People from non-EU States who want to apply for a visa to come to Germany may be invited by people living in Germany if the latter submit a Declaration of Commitment (Verpflichtungserklärung) to a Foreigners Authority in Germany. This declaration obliges the inviter to guarantee the financial support of the visa applicant during their stay in Germany. In some German cities, such as Offenbach am Main and Wiesbaden, the declaration can also be submitted via online application.
Bank Guarantee
By offering a bank guarantee (“Bankbürgschaft”), the bank guarantees that it will pay the obligations of its customer to third parties. The bank receives commission for the risk. This is often significantly lower than the costs of a comparable loan.
Make sure to inquire at the German embassy in your country as to which form of financial proof is required.
