For the students planning to study in Germany in the year 2024-25, there is an important update for you. Starting in the 2024/25 academic year, you must face a slightly increased proof-of-funds requirement for student visa applications. The new proof of funds is now €11,904 (about US$12,875). It presents a rise of 6% from the previous year, which was €11,208. This adjustment highlights Germany's dedication to safeguarding the financial means for international students. It aims to address the increasing cost of living and ensure that students can manage their expenses throughout their time in Germany.
The Federal Ministry of Education and Research offers multiple options to fulfill the updated financial requirements for the student visa for Germany. The following options are available:
Germany's increase in study costs may not be as high as some other countries, but it still positions the country in a mid-range compared to other popular study destinations. Below is a comparison of Germany's costs with those of a few other countries:
Australia and Canada have recently made changes in their financial requirements for student visa applications. In December 2023, Canada almost doubled its proof-of-funds requirement, while Australia announced a more than 20% increase in May 2024, the second rise within a year.
Germany has seen continuous growth in its international student population. In the winter semester of 2022/23, Germany welcomed nearly 370,000 students from around the world. It marks a 5% increase from the previous year and continues a positive rise in numbers over the past five years. Despite the increased financial requirements, Germany remains an incredibly favorite destination for students seeking a high-quality education and vibrant cultural experience.
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Categories: Germany
Tags: Study Abroad