Financing Your Studies
From flexible payment plans and scholarships, to Germany’s study benefits and incentives, there are many options for international students to consider when it comes to financing studies.
- Private student loans are offered country-wide e.g. by Deutsche Bank and Deutsche Kreditbank (DKB). Some banks such as Sparkassen Group or Volksbanken/ Raiffeisenbanken offer regional loan programs as well.
- State student loans in Germany are offered by: KFW Bank via your regional bank, NRW Bank (only tuition fees), L-Bank (only tuition fees).
- Private education funds (so called ‘Bildungsfonds’) are offered by: CareerConcept and Deutsche Bildung
- Education funds are offered to qualified and highly motivated students, funding both cost of living and tuition fees.
Thanks to our academic partnership with WUAS, our students receive German state recognized, accredited degrees, as well as:
- A full German student visa
- Eligibility to apply for a 18-month Job Seeker visa
- Working permit in Germany with 120 full days or 240 half days per year
- Financial support for foreigners with children residing in Germany (for children up to age 25)
- Tax benefits for Master students
- Refund of German Pension Insurance (9.3% of your salary) for individuals who have been employed in Germany for a maximum of five years. Check your eligibility here.
- Discounts on public transportation, insurance, gyms, museums among many other benefits
New European College offers students flexible payment plans where they can choose between paying tuition fees per semester or per academic year (terms & conditions apply).
International students can save time and money when making tuition payments by using Flywire, a free and secure solution for making international money transfers. Operating in more than 220 countries, international students and their families can use Flywire to make payments in their home currency and enjoy low exchange rates, convenient online payment tracking, and customer service in their native language.
Coracle was founded by a former student to ease the German Visa process. Coracle offers a digital, fast (within 24hrs) and uncomplicated solution for the requirements of a Blocked Account, a free Incoming Travel Insurance and Health Insurance of the student’s choice. Coracle’s documents are accepted by all German Embassies and their young and multilingual customer support team is never lost in translation (they speak 10+ languages). Please check the PRIME offer for Master and Bachelor students.
Fintiba provides step-by-step support for international students to open up the required Blocked Account and successfully navigate the German study visa process. Fintiba’s mission to offer innovative and tailor-made online solutions for international students who want to study in Germany. Click here to learn more and begin the process – and be sure to select ‘New European College’ when signing up!
Other resources include X-Patrio and Deutsche Bank.
There are many discounted products and services students will receive while enrolled at university in Germany.
Some discounts include:
- Gym memberships
- Museums & events
- Amazon Prime
All international students are required to have sufficient health insurance for the duration of their studies in Germany. Certain insurance companies such as DAK offer options in English for students in Germany.
For an overview of insurance services in Germany and to ask any questions you might have, please visit www.brendantodd.com.
Coracle is an independent information and consulting portal for legal and private health insurance for students. Coracle works independent of specific health insurance companies, giving students the freedom to choose their provider. All students are offered free, 6-month travel insurance, which can be included in their visa application.