6 Funding
6.1 Budgeting Notes
Moving to and attending university in Munich, of course, will require funding. In general, you will need to secure funding for housing, insurances, uni registration & supplies, food, clothing, other necessities, and hopefully some money for fun activities. How much to budget in total is entirely dependent on your ability to afford such things and, of course, your desire to spend money.
That said, a ballpark minimum monthly spend is probably in the range of €500-800 assuming you live in one of the student dorms, almost exclusively cook your own cheap meals at home, and spend minimally on other activities. The range here is relatively wide because, ultimately, the largest expense will be housing, and that expense is not very controllable given the massive demand for student dorms.
On the higher end, someone who wants to live in their own apartment, eat out frequently, and spends quite a lot on fun activities will likely spend closer to €2000-2500/month. Again, the cost of the apartment would be the overwhelmingly largest expense, and very few students in Munich will be living like this.
Most commonly, students will live in WGs, and attempt to be relatively frugal with their spending while still making time and money for leisure activities. An appropriate ballpark estimate for students living like this is probably in the range of €800-1600/month.
6.2 Requirements for Internationals
According to Germany’s Federal Foreign Office, student’s from non-EU countries must demonstrate that they have “adequate financial resources” to finance their stay in Germany. As of 2023, the minimum required amount of funding that one must demonstrate is €11,208/year. There are two primary options for demonstrating proof that you have these funds:
- Place the money into a Sperrkonto which will pay out your money on a monthly basis. This topic is covered in detail in the Banking chapter
- Obtain a recognized scholarship that provides proof of funding (either partial or whole.)
Most international students will ultimately need to opt for the Sperrkonto option.
6.2.1 Scholarships
Most major scholarships for international students can be found on the DAAD Scholarship database. The site allows for searching based on type of study program, country of origin, degree level, and a variety of other helpful features enabling you to identify potential scholarships relevant to your background.
6.3 Student Jobs
Working part-time during one’s studies is exceptionally common, and most students pick up positions as assistants at their university, as a waiter/waitress, or find some other part-time work to supplement their budgets. As of October 1st, 2022, the minimum wage in Germany is €12, and students may earn up to €520 in mini jobs before being required to pay taxes. See the DAAD Side Jobs page for additional details and links to source information.
The rules for international students hoping to work can be somewhat complex and confusing in some situations, but, generally speaking, working less than 20 hours/week is acceptable so one can potentially earn ~€960/month without any legal concerns. The Work Regulations chapter covers these details in more detail.