fbpx
Market intelligence for international student recruitment from ICEF
31st Jul 2024

Germany confirms increase in proof-of-funds requirements for student visa applicants

Short on time? Here are the highlights:
  • Germany has increased its financial requirements by just over 6% for the coming academic year
  • This keeps the country on a competitive footing with other major study destinations, including those in Europe

The German government has confirmed a modest increase in proof-of-funds requirements for the 2024/25 academic year. Since 1 January 2023, the proof of funds threshold for student visa applicants has been set at €11,208 (US$12,135). For the coming academic year, the funds required will increase to €11,904 (US$12,875), representing about a 6% increase over the previous level.

The Federal Ministry of Education and Research's Study in Germany website explains that students can meet the funds requirement in a number of ways. These include the submission of certified documents detailing family income and assets, producing a bank guarantee ("Bankbürgschaft"), or via the use of a blocked account. The latter is is a bank account designed precisely for international students and offered by banks and service providers, including Expatrio, Coracle, and Fintiba. The account is considered “blocked” because students cannot access it until they arrive in Germany, and then may only withdraw funds up to a specified monthly limit.

Any of those methods may be used to obtain a "“Finanzierungsnachweis,” or proof of funds, for purposes of applying for a study visa for Germany.

The new requirement of €11,904 (US$12,875) keeps Germany near the top of the range among major study destinations and can be compared to Australia (AUD$29,710 which equates to US$19,540), Canada (CDN$20,635, US$14,930), Ireland (€10,000, US$10,680), and France (€7,380, US$7,980). Both Australia and Canada have announced substantial increases to their funds requirements over the past several months. In December 2023, Canada effectively doubled its proof of funds requirement. And Australia announced a 20%+ increase in May 2024 – the second such increase within a year.

Foreign enrolment in Germany reached a record high in the winter semester of 2022/23. There were nearly 370,000 international students enrolled in Germany at that point, a 5% increase compared with 2021/22, and the fifth consecutive year of growth.

For additional background, please see:

Most Recent

  • Japanese outbound numbers reached 90% of pre-pandemic levels in 2024 Read More
  • UK: Study visa applications up by nearly a third year to date Read More
  • Real-time insights on shifting international student interest in the US Read More

Most Popular

  • Which countries will contribute the most to global student mobility in 2030? Read More
  • Research shows link between study abroad and poverty alleviation  Read More
  • Beyond the Big Four: How demand for study abroad is shifting to destinations in Asia and Europe Read More

Because you found this article interesting

Japanese outbound numbers reached 90% of pre-pandemic levels in 2024 An annual survey of Japanese education agents finds that outbound student numbers from this key sending market are...
Read more
UK: Study visa applications up by nearly a third year to date The early data we are seeing so far this year makes a couple of things clear. First, there...
Read more
Real-time insights on shifting international student interest in the US ICEF and NAFSA co-hosted a featured webinar on 11 June, and the session showcased some important data reflecting...
Read more
What are the latest developments for international students in the United States? An update like this needs a time stamp as the events reported are unfolding quickly. It was first...
Read more
ICEF Podcast: Live from NAFSA 2025 Listen in as ICEF’s Craig Riggs and Martijn van de Veen recap a busy week at the annual...
Read more
Irish ELT sector sounds note of “cautious stability” for 2024 After a year of very strong growth in 2023, Ireland’s English Language Teaching (ELT) sector is reporting remarkably...
Read more
US ELT numbers moving toward pre-pandemic norms If you look at English Language Teaching (ELT) numbers in the United States year-over-year, it is easy to...
Read more
Sector and students shocked as US State Department says it will “aggressively revoke visas for Chinese students” On 28 May 2025, a late-afternoon statement from the US State Department came as the latest shock for...
Read more
What are you looking for?
Quick Links