Students Will Need More Money to Obtain a Visa to Study in Germany As of January 1, 2023

The German authorities have increased the amount of money that should be deposited in a blocked bank account in Germany in order for students to meet the financial condition for applying for a German study visa.

The German Federal Foreign Office has revealed that starting from January 1, 2023, the amount required to open a blocked bank account has increased by 8.5 percent, from €10,332 to €11,208, for international students wishing to study in Germany, Erudera.com reports.

“From January 1, 2023, the presumed annual requirement that must be paid into the blocked account when applying for a visa amounts to €11,208. The account may only permit the withdrawal of a certain amount per month (for students currently €934),” notes a statement of the Foreign Office on blocked bank accounts.

The office argues the increase in the required amount for such an account, saying that a blocked account must have sufficient credit in order to cover the costs arising for the duration of a student’s planned stay in Germany.

The amount increases time after time in order for students to be able to meet their financial needs once in Germany. While since January 1, 2021, the amount has been €10,332, the year before, it was €10,236. Before 2020, the amount was €8,640.

Gent Ukëhajdaraj from Studying-in-Germany.org also claims that the increase is in line with inflation which has also affected students’ lives due to the increase in prices of food, electricity, and heating.

He also notes that the increase in the amount required for a blocked bank account has also been expected since the Ministry of Education and Innovation last April also increased the monthly financial aid allocated under the German Federal Training Assistance Act (BAföG) from €861 to €931.

“The amount allocated under the BAföG has always been a precedent for the increase of the amount required for a blocked bank account. Since the Ministry increased the monthly financial assistance allocated to BAföG beneficiaries, it was obvious that sooner or later this year, the amount for a blocked account would also increase,” Ukëhajdaraj explains.

For many students, the blocked bank account remains the main source of income. In July last year, Erduera.com reported that Hamburg-based BAM Bundesweites Anlagenmanagement had paused the monthly payments of €861 to international students in Germany, leaving them in a dire financial situation in the months of June and July. The bank later resumed making the payments at the end of July.

>> Germany Increases Payments for Students Benefiting From BAföG in a Bid to Make the Scheme More Attractive