German financial resources For Students
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German financial resources For Students
There are a number of ways to show that you can finance your studies. The following forms of proof are possible:
- Your parents can submit documents certifying their income and financial assets.
- Someone with permanent residence in Germany can guarantee the Alien Registration Office to cover your expenses.
- A security payment can be deposited into a blocked account.
- You can present a bank guarantee.
- You can present a scholarship award notification from a recognised scholarship provider.
Make sure to inquire at the German embassy in your country as to which form of financial proof is required!
Open your account
If your documents are in order, the bank sets up a blocked account for you. This costs a one-time fee of 50-150 euros. As soon as your account is ready, you have to deposit at least 10,236 euros (since 01.01.2020) into it. As of January 1, 2021, the assumed annual standard requirement that must be paid into the blocked account when applying for a visa is 10,332 euros.
“Deutsche Bank”: Certify the application and required documents
The next step for the “Deutsche Bank” is to have the completed forms and a copy of your passport certified by a German consulate general or the German embassy in your country. Only then you should send your documents to the Deutsche Bank. Please note: Do not send your documents as attached scans by e-mail or by fax; the bank only accepts originals.
EARNING MONEY DURING YOUR STUDIES
Working as an academic assistant
People who work as academic/student assistants at a university are called Hiwis (Hilfswissenschaftler) in Germany. Academic assistants may, for example, supervise the library, lead tutorials or research literature for professors. The advantage: the work is often related to your studies, which means you learn something at the same time. If you’re interested in an academic assistant job, you should enquire about vacancies at the administrative office of your institution and keep an eye on the notice boards at your university.
Exceptions for student assistants: the 120-day rule does not apply to student assistants. There are no restrictions on these jobs at the university. Nevertheless, you must inform the Ausländerbehörde (foreigners’ registration office) if you want to work more hours. Not sure as to what kind of jobs these are? Then you should ideally obtain information from your local student services office or the Akademischen Auslandsamt (foreign student’s office) at your university.
Rules for students on language and preparatory courses
If you are taking a language course or want to take a preparatory course, you may generally only work if you have permission from the Federal Employment Agency (Agentur für Arbeit) and the Immigration Office (Ausländerbehörde) – and only during the recess period.
Rules for work placements
If during your academic studies you wish to complete a work placement during the semester breaks, that counts as “regular” work. This also applies to unpaid work placements. Each day of the work placement will be deducted from your 120 day limit.
Exceptions for mandatory work placements: if your work placement is a so-called mandatory work placement as required by the study regulations, you can work for more hours.
TAXES AND INSURANCE
You can have a student job and earn up to 450 EUR per month without having to pay taxes. But if you regularly earn more than 450 EUR, you will need a tax number. A certain amount will be deducted from your salary each month, which you will get back if you submit a tax return at the end of the year.
If you are permanently employed in Germany, you will normally pay social security contributions. These include payments for health insurance, nursing care insurance, pension and unemployment insurance. You do not have to pay these contributions if you work less than two months at a stretch or less than 50 days throughout the year.