Fully Funded Scholarships In Germany - Myth Or Reality? How To Finance Yourself Abroad
Yana Immis
Every foreigner needs to prove financial solvency when going to study in Germany.
The Blocked Account option is only one of the ways of financing yourself. There are also scholarships, loans, grants. Do not forget, as a foreigner, you are allowed to work in Germany while studying and to search for a job in Germany for 18 months after Graduation. Scroll down to access the full version.
If you go for a private or a public university, you are eligible to obtain either of these sources of financing if your university is state accredited and recognized. Unsure if your university is matching the criteria? Contact me for clarification.
I have prepared a dropdown of options for you to replace a blocked account. If you are not able to obtain either of the options, please consider evaluating the different blocked account options and reading more about them here.
How To Finance Your Studies In Germany?
1) DAAD Scholarship Database
DAAD ("Deutscher Akademischer Austauschdienst") - must be your first and foremost source of obtaining a scholarship. You can apply for one or for several options according to your nationality and the future program. Important is that the combination of scholarships covers your blocked account sum.
Important: fully funded scholarships or a combination of the different scholarships will replace your blocked account and it will no longer be necessary to submit the confirmation of the blocked funds in the German Embassy during your visa application process.
2) Deutschlandstipendium
The Deutschlandstipendium provides financial support to high performing students from all over the world.
Businesses, foundations, or private individuals sponsor young talent with a pledge of 150 euros per month.
The Federal Government matches this amount with another 150 euros.
300 euros per month for international top-class talent
3) BAFÖG (For German Students)
BAföG - state funding for students in Germany. The BAföG is only awarded to international students in exceptional cases.
4) Gi. Bill V.A. Benefits (U.S. Department of Veteran Affairs)
First, you need to check if your university is approved for the organization to pay for your studies. If the university is not yet on a list, you can apply and notify the academic-admissions office of the university. The application will be considered and then the university’s academic department would be contacted for confirmation.
5) Loans & Foundations
Private student loans are offered country-wide by:
Deutsche Bank
Sparkasse
Volksbank
Raiffeisenbanken
State student loans in Germany are offered by:
KFW Bank via your regional bank
NRW Bank (only tuition fees)
L-Bank (only tuition fees).
Foundations:
Heinrich Böll Foundation Scholarships in Germany
Konrad-Adenauer-Stiftung Scholarships in Germany for International Students
The Friedrich Ebert Stiftung Scholarship
6) Erasmus Scholarship Programs in Germany
Erasmus is an alternative choice for international students who aim to enroll into the full-time study program in Germany. The majority of the EU universities participate in the Erasmus scheme (funded by Erasmus Mundus and Erasmus+ scholarships).
7) Work & Tax Benefits
Master studies in Germany are tax-deductible
You are allowed to work 20 hours a week (exception HSBA school where you can work 30 hours a week during your Master studies)
Permission to work full-time while searching for a job after graduation (18-month Job Seeker visa)
Child benefits in Germany (Kindergeld) - for children up to age 25
Refund of German Pension Insurance (9.3% of your salary) for individuals who have been employed in Germany for a maximum of five years. Check your eligibility here.
8) University Scholarships
Make sure to check all the partner universities I work with who offer extensive scholarship choices, as an example:
Scholarships for sportsmen
Scholarships for a high GMAT result
Scholarships for women in leadership
9) Additional useful links with foundations, loans, and scholarships
