Studies in Germany: towards new financial conditions

Studying abroad, whether for a semester, a year or the entire duration of your studies, provides many advantages. an improvement in their language skills, the discovery of new cultures, a different way of working… Germany is in the top five of student preferences in the world. What are the reasons?

The reasons are legion: quality teaching, the LMD system (Bachelor – Master – Doctorate) which is highly prized and recognized throughout the world, relatively low costs, outlets and opportunities in terms of employment thereafter… That is what encourages Algerian students to consider continuing their studies in Germany. You should know that in 2019, German universities have about 350 registrations for Algeria.

However, all students wishing to continue their studies in Germany, including those currently studying there, will soon be required to show evidence of a larger sum of money in their blocked bank account in order to obtain a German student visa or to extend their residence permit.

Indeed, a blocked bank account is a way for students to demonstrate that they will have sufficient financial resources to support themselves during their higher education years in Germany. Although currently the amount required in a blocked bank account is €10,332 per year, schengenvisainfo.com announces that from the next winter semester the amount required for such an account will be increased to €11,172.

Concretely, for the moment, students are authorized to receive €861, but from the next semester of the academic year 2022/2023, they will be able to receive €931. This move comes following the approval of the increase in the minimum amount of monthly aid for students who benefit from the German Federal Education Aid Act (BAföG), which rose from €861 to €931.

An increase that adapts to the cost of living in Germany

Moreover, this increase in the annual amount necessary for a blocked bank account for foreign students and the BAföG results from the phenomenon of inflation which is rampant in the world, and in particular in Germany. The German authorities constantly reassess the amount imposed for a blocked bank account, so as to adjust it to the needs of students as well as to the cost of living in Germany.

By way of example, if before the fall semester for the 2020/2021 academic year, said amount was established at €10,236, it then rose to €10,332 from the start of the semester, i.e. a ceiling of monthly withdrawal from €853 to €861, which represents an increase of less than one percent.

In the month of September 2021, the amount increased from €8,640 to €10,236, which is one of the largest increases in the amount required to have a frozen bank account in recent years (18, 4%).

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