Mastering Your Finances: Navigating the Costs of Pursuing a Master's Degree in Germany

Welcome aboard, fellow Grad Voyager!

Embarking on a master's degree abroad is an exhilarating journey filled with opportunities for personal and academic growth. In this blog post, I'll be your financial compass, guiding you through the crucial points of financing your master's studies overseas. As you're setting sail to Germany I've got you covered with detailed and easy-to-understand information to help you sail smoothly and confidently toward your dreams.

Preparing to Set Sail: Pre-Departure Expenses

Before you chart your course, there are essential expenses to navigate. Let's break them down:

a. Language Proficiency Tests:

As you set sail, you'll need to prove your language skills. The IELTS or TOEFL exam will be your guiding star. Budget of approximately INR 16,500 for IELTS and INR 16,046 for TOEFL.

b. APS Certificate:

Germany requires an "Akademische Prüfstelle" (APS) certificate for university applications and for student-visa. Allocate around INR 18,000 for this important document.

c. The Blocked Account

Before docking in Germany, you'll need to deposit around 11,208 euro roughly between 10,00,000 to 11,00,000 INR in a blocked account. This will serve as your financial assurance during your stay.

Check Expatrio, Fintiba and more.

d.Visa Application

To board your study voyage, obtain a student visa. Allocate INR 6,600 for the visa fee, and extra for premium services (around INR 3000), if desired.

Before sailing, ensure you have the necessary documents in hand. Budget of around 200-500 INR for printing and sending the documents.

e.  Flight Fare

As you set sail, keep your budget buoyant. Utilize student discounts to reduce the flight fare, aiming for approximately around 30,000 INR(more or less).

f. Packing for Germany

Be ready for shopping and personal items to ensure a comfortable start to your journey. Do assign a budget for this. Do keep a look out for future blog posts on the packing list.

Navigating the Open Seas: Expenses During Studies

As you sail through your master's program, be prepared for the following expenses:

a. University student contribution/ Private university fee:

In Germany, public universities offer tuition-free education, but you'll need to pay a semester contribution of €200 - €400, which may include a free travel ticket.

If you opt for private universities, prepare for tuition fees ranging from 10,00,000 INR and above.

b. Accommodation:

Rooms may cost between €200 - €500 per month. Shared apartment rents are usually less than 1-room apartments. Choose whatever comforts you. 

c. Health Insurance

Maintain your well-being with health insurance, which costs approximately €117 - €120 per month. 

d. Radio Tax

Contribute €18.36 monthly (collected quarterly) per household for radio tax, regardless of occupants.

e. Grocery and Miscellaneous

Budget around €60 - €100 for groceries and an additional €100 for miscellaneous expenses each month.

Plotting Your Financial Course:

• Utilize the funds from your blocked account, with €931 credited monthly for living expenses.
• Look to DAAD for Scholarships: Chart a course on the German Academic Exchange Service (DAAD) website for scholarship opportunities to ease your financial burden.
• Exploring Part-Time Work:  Set your course on finding part-time work opportunities that align with your study schedule and visa regulations.

As you set sail on your GradVoyager adventure, remember that financial wisdom is the North Star to your success. Understanding the detailed aspects of financing your master's journey abroad will ensure a smoother voyage. Keep your compass aligned with budgeting, scholarships, and part-time work to navigate the financial waters skillfully. Bon voyage on your master's expedition, and may your GradVoyager experience be both rewarding and enriching!

For more comprehensive information on pursuing a Master's in Germany, CLICK HERE

For more info on How to find the right university check THIS out.

For more info on the APS certificate check THIS out.

Keep exploring, GradVoyagers. The journey awaits!