More and more young people are deciding to study. According to statista , the number of students enrolled at German universities rose from 1.94 million to 2.8 million between the 2002/03 winter semester and the 2016/2017 winter semester. There are numerous reasons for your personal decision to study. While many strive for a smoother transition from school to the world of work or are guided by individual interests, the better earning prospects after studying are also a motivation. However, this also involves years of deprivation. We'll show you how much student life costs and how student life can be financed .
Living and education costs
A student's monthly living expenses depend on many factors. According to the German Student Union, the average monthly costs are 794 euros, with a good third being rent alone. However, there are strong fluctuations. If you decide to study in Stuttgart, Munich and Frankfurt, you will most likely have to dig deeper into your pockets than in Leipzig, Cottbus or Frankfurt/Oder, because in general the rent and additional costs are significantly lower in the new federal states .
The costs also depend on the type of accommodation. In most cases, a room in a shared apartment or student dormitory is cheaper than your own four walls. In addition, a shared apartment helps you to quickly make friends in a city that is unfamiliar to you, which is why a shared apartment is still the most popular way of living for most students.
In addition to rent and additional costs, insurance is another major cost item. If you are under 25 and only work a mini-job, you are still insured by your parents. However, from the age of 25 you have to insure yourself. However, students pay a reduced rate.
Health insurance is mandatory for students. Other insurance policies such as liability insurance, household contents insurance or legal protection insurance are voluntary, but students are often also insured here by their parents. In any case, it is advisable to take out such insurance, as it can protect you from high costs in the event of damage, but only requires low premiums.
Studying always involves certain semester fees that have to be paid twice a year. Although tuition fees have now been abolished in all federal states, they are decoupled from the contributions that you still have to pay. These vary depending on the university and can be between 85 euros and 290 euros. In most cases, however, a semester ticket is also included, which not only gives you mobility at the place of study, but also, depending on the type of ticket, invites you to explore the surrounding area. For example, the Saarland University semester ticket is valid throughout Saarland.
Individual costs
As the saying goes: “A full stomach doesn’t like studying.” But students also have to eat at some point and money can be saved here too. There are always cheap dishes in the canteens of colleges and universities. Many offer a daily changing tribal meal, which can be had for around 2.50 euros. The stereotype of the student eating frozen pizza is still persistent, but student cookbooks show you how easy it is to conjure up affordable meals. However, you should always budget around 150 euros to 170 euros for groceries.
Learning materials are essential for successful studies. However, the costs can vary greatly depending on the subject. Medical specialist books are more important than reading material for literature studies. However, since specialist books are generally always quite expensive, if you don't need the entire book, you should copy the relevant pages from the library. Most students have a laptop, which is a kind of all-purpose weapon for studying, but if you don't have the money for it or if the good thing has given up the ghost, you can always switch to the computer in the library.
Home is where the wifi connects automatically. And so internet and smartphones are mandatory for most students. Luckily, this doesn't have to be expensive, as many internet and mobile phone providers offer cheap tariffs for students. Basically, you should budget around 30 euros to 35 euros per month for communication costs. Don't forget: PCs and smartphones that are compatible with internet are also subject to GEZ. This means you will have to pay another 17.53 euros per month. However, these costs do not apply if you are a BAföG recipient.
New clothing is also a cost. Students spend an average of 55 euros per month on it. However, these costs can vary greatly from person to person. Just because a pair of pants has a hole doesn't mean they need to be replaced!
However, student life is not just about learning and saving. Of course, the amount of free time should also be used for personal development. You should budget around 60 euros to 70 euros per month for cultural and leisure activities. However, the costs depend heavily on what is available at the place of study and your own preferences. But maybe it could just be an afternoon in the park. That doesn't cost anything! In any case, you should also find out where you can get one of the over 42,000 discounts with your international student card.
Financing options
A lot of costs come up over the course of studying. Depending on where you study and your lifestyle, the monthly costs can be between 570 euros and 1175 euros. A big chunk of money. So it's no wonder that most students take on one or even two part-time jobs . However, there are also state and private funding opportunities .
The Federal Training Assistance Act, or BAföG for short, is intended to ensure that young people can complete appropriate training regardless of their parents' financial situation. However, if you do not qualify for such funding, you can still opt for a student or educational loan. However, short-term financial bottlenecks can be bridged with an overdraft facility for students . Even if parents and grandparents probably say otherwise, studying can be quite strenuous at times and then at least you shouldn't have to worry about money.
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How much does student life actually cost? We'll show you and give you tips on financing your studies.
