Germany Increases Blocked Account Amount for International Students

Introduction Starting September 1, 2024, international students planning to study in Germany will face a new financial requirement. The blocked account amount, which is a key part of the student visa process, has been increased. The new amount required is €11,904, up from the previous €11,208. Every month, the student will be eligible to withdraw €992 from their blocked account to support their finances. This change affects all students who are planning to study in Germany, and it is important to update all relevant documents and files to reflect this new requirement.

What is a Blocked Account? A blocked account is a special type of bank account that international students must open to study in Germany. The account is called “blocked” because the funds in it are meant to cover the student’s living expenses while studying in Germany. The money in the account is released in monthly installments, ensuring that students have enough funds to support themselves during their stay.

The German government requires international students to have a blocked account as part of the visa application process. It serves as proof that the student can afford to live in Germany without needing additional financial support.

Why the Increase? The increase in the blocked account amount reflects the rising cost of living in Germany. While the increase may seem small, it is essential for students to budget accordingly. The German government reviews the blocked account amount periodically to ensure that it aligns with the current living expenses.

How Does This Impact International Students? For students planning to study in Germany, the increased blocked account amount means that they need to have more funds available when applying for their student visa. This can be a significant financial burden, especially for students from countries with weaker currencies.

Students should also be aware that this change applies to all applications submitted on or after September 1, 2024. Therefore, if you are planning to study in Germany and have not yet opened a blocked account, it is important to prepare for this increased amount.

Steps to Update Your Documents

1. Update Financial Documents: If you have already started the visa application process, make sure to update your financial documents to reflect the new blocked account amount. This includes bank statements, sponsorship letters, and any other documents that show proof of funds.
2. Inform Your Bank: If you have already opened a blocked account, inform your bank about the new amount. They may require you to deposit additional funds to meet the new requirement.
3. Consult Your University: Some universities in Germany may also provide additional guidance on how to meet the new financial requirements. It is a good idea to reach out to the international office at your university for support.

Tips for Managing Your Finances With the increase in the blocked account amount, it is more important than ever for students to manage their finances wisely. Here are some tips:

1. Budget Wisely: Create a budget that covers your essential expenses, such as rent, food, transportation, and study materials. Stick to your budget to avoid running out of funds.
2. Look for Scholarships: Many universities and organizations offer scholarships for international students. Research and apply for scholarships that can help reduce your financial burden.
3. Consider Part-Time Work: Germany allows international students to work part-time while studying. This can be a good way to earn extra money and gain work experience. However, make sure that your work hours do not interfere with your studies.

Conclusion The increase in the blocked account amount for Germany is a reminder of the importance of financial planning for international students. While this change may present a challenge, it is essential to ensure that you have the necessary funds to support yourself during your studies. By staying informed and updating your documents accordingly, you can avoid delays in the visa application process and ensure a smooth transition to studying in Germany.