How to finance your studies

Financing your studies

How to finance your studies – image: © smolaw11 #283202811 – stock.Adobe.Com

Studying is expensive. Depending on where you study, you may have to pay semester or tuition fees, the cost of books and rent for your apartment. In the meantime, many banks offer student loans, but bafog or a part-time job can also be an option.
To find the right financing for you, you can find tips and tricks for your studies here.

What does it cost to study?

By eliminating tuition fees, students save a lot of money on.

In the meantime, you only have to pay an average of 200 to 400 euros in semester fees per semester, but these often include the student ticket.

With this ticket, students can use bus and train, so even ticket costs are eliminated.
Nevertheless, there are some other costs that are only indirectly related to studying.

  • Rent for a shared room or the apartment
  • Food, mensa
  • Clothing
  • Own contribution to teaching materials, excursions, etc.
  • Travel costs for car, if the university is not accessible by train or bus
  • Books, study materials, technology such as tablet, laptop, etc.
  • Leisure expenses
  • Fees for telephone, GEZ and internet, cell phone
  • Health insurance (usually from 25 years), medication
  • Evtl. Commuting costs home if you only live at your place of study during the week

On average, students need 800 euros per month, according to the social survey in germany. Due to rising rent costs and inflation, this sum increases very quickly. So calculate thoroughly what you need for your studies in relation to 6 semesters of bachelor studies. Also consider possible study extensions.

Study costs

Financing options

Many students combine different funding options, as individual ones are often not enough. Combination options can include a part-time job and parental support, for example. If parents are not able to support you, many students resort to bafog or loans.


Bafog is a state subsidy, which is granted in part as an interest-free loan. This means that students only have to pay back half and a maximum of 10000 euros. However, not every student is entitled to bafog, because the entitlement is related to the income of parents.

In addition, jobs over 450 euros and assets from 7500 euros are taken into account.

To verify eligibility, students must provide proof of parental income. The bafog entitlement is then calculated from this. Bafog is mainly intended to enable children from low-income families to study.


Support from parents

Parents are legally obliged to finance at least one education for their child. If you cannot do this, bafog should help the child. So if the parents have enough income, they can support the child, for example, through financial support.

Student loan

The classic student loan offers monthly payments in various amounts. The loan does not have to be repaid until a certain period of time has elapsed. As a rule, the loan is granted regardless of income and personal requirements.

Borrowing money

You may have sponsors who will lend you money to pay for your studies. That would be a so-called personal loan, which you can agree individually.

Borrow money


Scholarships are coveted and highly competitive. As a rule, very good grades and social commitment are required. You have to apply for a scholarship and a jury selects the scholarship holders.

Part-time job/working student job

If you don't get support or it's not enough, many students resort to part-time jobs. Working student jobs are particularly sought-after, as they are usually better paid and already provide initial work experience in the field of study.

If you are a working student, you may not work more than 20 hours a week during the semester to avoid losing your student status.

You are allowed to work full time as a student trainee during the non-lecture period. Another option are hiwi positions (student assistant), which are offered at universities.

Education funds

The education fund also has to be paid back with interest. However, repayment is based on salary, so students don't have to go into too much debt. However, high earners have to pay back correspondingly more, so a loan may be more worthwhile here.