Financial proof to study in Germany in 2024
Dreaming of studying in Germany is the first step in an exciting journey. But to make that dream a reality, you need to show that you can support yourself financially during your studies. This is where proof of financial resources, or “Finanzierungsnachweis”, comes in. Let's explore what it is, how much you need, and how to get that essential proof.
What is proof of resources?
The proof of financial resources is like a ticket to your academic adventure in Germany. It is a document that shows the German authorities that you have enough money to live and study in the country without financial problems. Think of it as a guarantee that you can focus on your studies without worrying about bills at the end of the month.
The amount you need to prove changes from time to time. As of September 1, 2024, you'll need to show that you have €11,904 a year. That translates to €992 a month to cover your basic expenses like housing, food, and other needs. It is important to keep an eye on this amount as it may change. Be Easy always keeps this information up to date to help you plan.
Options to prove your resources
There are several ways to prove that you have the necessary resources to study in Germany. Each option has its advantages and special considerations:
- Blocked bank account: It's like special savings that release a fixed monthly amount.
- Parents' bank statement with letter of responsibility: Ideal if your parents are going to support you financially.
- Sponsor in Germany: If you have a relative or friend who lives there and can help you.
- Bank guarantee: The bank promises that you will have access to the necessary money.
- Scholarship: If you won a scholarship that covers your expenses.
For those who are thinking of Study and Work in Germany, understanding these options is crucial. Each of them may be better suited to your specific situation and your plans to combine studies with professional experience in the country.
The blocked bank account in detail
A locked bank account is one of the most popular options among international students. It works like a special savings account that you open with a German bank before traveling. You deposit all the money needed for one year (€11,904) at once. Then, when you arrive in Germany, the bank releases €992 a month to you.
This option has several advantages. First, it is very well regarded by the German immigration authorities. They like this option because it clearly shows that you have all the money you need for your first year of studies. Plus, it ensures that you won't spend all the money at once, helping you manage your budget throughout the year.
Steps to open a blocked account
If you decide to use a locked bank account, here are the steps you'll need to take:
- Choose a bank: There are several banks that offer this service. Be Easy can recommend trustworthy institutions.
- Prepare the documents: Generally, you will need your passport, proof of address, and letter of acceptance from the university.
- Complete the account opening form: Each bank has its own form, which can be filled out online.
- Send the documents: After completing the form, you will send copies of the required documents.
- Make the deposit: Upon approval, you will deposit the full amount (€11,904) into the account.
- Get confirmation: The bank will send you a document confirming that you opened the account and deposited the required amount.
- Use the confirmation for the visa: This document will be crucial to your student visa application.
Other proof options
While the blocked account is popular, it's not the only option. If your parents are going to support you, you can use their bank statements along with a letter of responsibility. If you have a relative or friend in Germany, they can offer themselves as your financial sponsor. Scholarships are also an excellent option, as long as they cover the minimum amount needed.
Be Easy
Ready to take the next step towards your dream of studying in Germany? A Be Easy is here to help! Our experts can guide you through the entire financial proof process, from choosing the best option to preparing all the necessary documents. Don't let financial details get in the way of your plans. Contact us today and discover how we can make your journey to Germany easier and more exciting. With Be Easy, your academic future in Germany is closer than you think!
