How you will finance your studies in Germany is sure to be one of the most important questions for you. If you come from a country outside the EU/EEA and need a temporary residence permit for the purpose of studying, you have to prove that you have the financial means to study and live in Germany.
To this end, you can set up a blocked account (Sperrkonto) in Germany with a minimum amount of 10,236 euros (2020). You will find a list of various providers of blocked accounts throughout Germany on the website of the Federal Foreign Office. Alternatively, you can ask friends or relatives in Germany to hand in a Declaration of Commitment (Verpflichtungserklärung) for you at the Foreigners' Authority. This may mean that there is no need to submit proof of your own savings when applying for a visa. You can find more information on proof of financial resources on the Study in Germany website.
Enquiring about scholarships
Would you like to fund your studies by means of a scholarship? Numerous institutions in Germany give monthly financial support to students who meet certain requirements. This may be good grades or commitment to social responsibility. However, you do need to be aware that scholarships are rarely awarded with effect from the first semester in Germany. Students in higher semesters and doctoral candidates from abroad can apply to DAAD for a scholarship. Some private institutions also provide support for students from abroad. You can find out more about funding options from DAAD and other selected funding organisations for international students on the DAAD website.
Cost of living
How much money do you need on average in order to live whilst studying in Germany? You will find detailed information on the cost of living whilst studying in Germany on the website Study in Germany.