Financing

How am I supposed to pay for all of this?

With tuition fees at the university abroad (when there is no existing exchange agreement with the university), overseas health insurance, general living and travel expenses, every student going abroad faces the same tough question: how am I supposed to pay for all of this?!

Information regarding the payments within the Erasmus program can be found under Erasmus

Fortunately, there are several different ways to finance your stay abroad. For students with German nationality it is always worthwhile, for example, to apply for an overseas student loan (or Auslands-BAföG; an overseas loan offered by the German government to eligible students). Often students who are not eligible for an inland student loan (normal BAföG) are nevertheless eligible for stays abroad. The most important requirement is early organisation: the application should be submitted to the nearest BAföG office about 6 months in advance. Other important requirements are, amongst others, sufficient command of the language of the host country and a minimum period of stay of one semester.

A German education loan (Bildungskredit) is another way of financing your stay abroad. This loan features low interest rates and financing for up to 24 months at 100 to 300 EUR per month. Unlike with private loans or BAföG, the education loan amount does not depend on your parents’ income nor your own assets.

Academic scholarships for German and international students are offered for example by the German Academic Exchange Service (DAAD). The DAAD’s database of scholarship holders is an important source of information for financing options. Also the Deutsche Studentenwerke give advice regarding student financing and and student credit offers. Additionally it is advisable to inform yourself about scholarships by Begabtenförderwerke (scholarships for outstanding pupils or students ).

You can also apply for a PROMOS grant to finance your semester or internship abroad. The next application deadlines in 2019 are the 15th of January and the 15th of June. The selection criteria for the grant include your current GPA, number of acquired credit points, the relevance of your proposed stay abroad in the context of your study programme, as well as your language skills.

The website www.mystipendium.de also provides information about various scholarship opportunities with regard to your individual profile.

In addition, many other institutions provide scholarship support to top students. For example:

What scholarship suits me? Helfpful tips & self assessment

Asia: Asia Exchange

Australia and New Zealand: IEC Online

Australia and New Zealand: Institut Ranke-Heinemann

Australia and New Zealand: Studium-Downunder

Australia and New Zealand: GOstralia! and GOzealand!

Association of German Foundations

Cusanuswerk (scholarship body of the German Catholic Church)

The Eidam & Partner International Scholarship

DAAD: HAW.International

Dr. Jost Henkel Foundation

Evangelisches Studienwerk

Friedrich Ebert Foundation

Friedrich Nauman Foundation

Haniel Foundation

Hans Böckler Foundation

Hanns Seidel Foundation

Heinrich Hertz Foundation

Heinrich Böll Foundation

Konrad Adenauer Foundation

Central Europe: Community for Scholarly Exchange

Rosa Luxemburg Foundation

Rotary Foundation - Ambassadorial Scholarships

Association for thePromotion of German Science and Humanities

German Economy Foundation

Sprachreisen.org-Stipendium

German National Academic Foundation

USA: International Doorway and Sports Scholarship

USA: Scholarship of the Fulbright Commission