There are several reasons why students from all over the world choose Germany as a study-abroad location. Germany offers the best to every student, whether for a master’s degree, a bachelor’s degree, internships, or even research scholarships. If you want to study abroad in Germany, the first thing you should think about is the living cost in Germany. Living in a foreign country can be expensive, especially for international students. Aside from the study cost in Germany for Indian students, the cost of living in Germany for Indian students includes housing, transportation, tuition fees, and other expenses.
For Indian students, it is essential to have a good awareness of the living cost in Germany since this allows you to organize your costs correctly. Indian students should budget around $1320 per month or $ 37,247 per year. Now, while staying and studying in Germany, Indian students can save a significant amount and manage their budget better with Niyo Travel Card. The account opening process is entirely online in the Niyo Global app, and there is no account opening fee involved. You will be offered an Indian Rupee-based international debit card, which will automatically convert INR to currencies of over 150 countries.
What is the cost of living in Germany for Indian students in 2023?
Because most German universities are state-run, the cost of studying in Germany is usually negligible. Private institutions may charge the tuition cost of studying in Germany, and some universities impose tuition fees on non-EU nationals. Annual study costs in Germany for Indian students might be approximately $18,907. On average, student fees are $400 per year, while textbook expenses are $600 per year. A monthly pass for public transportation will cost students roughly $40 monthly or $480 annually. However, transportation costs are often included in the semester cost of studying in Germany provided by students at many German institutions.
Average cost of living in Germany for a student:
|Expenses||Average cost per month|
|Food and drinks||$200|
Cost of accommodation in Germany
Accommodations comprise a vital element of the living cost in Germany for students. The cost of living in Germany for Indian students varies according to where you reside and the sort of lodgings you select. On-campus rentals, which cost $600 per month in cities like Breme, Aachen, or Leipzig, or $ 7200 per year and are located near the institution, are the most inexpensive and convenient option.
The rent may go higher in the range if you choose to study and stay in cities like Berlin, Frankfurt, and Munich. Apart from that, flat-sharing and private housing are also options. It also depends on the city that you are studying and living in – choosing a self-contained apartment in the centre of Munich might eat up your budget, but if you share a flat in Berlin with your fellow students, you would be able to manage your budget much better. To further manage your budget and boost your savings, you can use Niyo Global Card, which offers zero forex markup that saves 3-5% on all forex transactions. It offers 6.5% Interest P.A. on savings with monthly interest payouts, thus helping you save more.
Cost of food in Germany
Compared to other countries, the living expenses in Germany for essential food products and groceries are inexpensive. Campus cafeterias and eateries provide lower prices to students. For Indian students in Germany living off-campus, there are many affordable choices for eating. In Germany, the average cost of groceries and meals for students is $300 per month or $3600 per year for cities like Helle, Krefeld, Passau, etc. You may expect to spend around $450 on food if you choose to reside in expensive cities like Munich or Berlin. Though living expenses in Germany may appear expensive, it is not. You may spend roughly $80 monthly or $960 yearly on entertainment, clothes, gifts, etc.
Cost of health insurance in Germany
is essential to study in Germany for Indian students. Health insurance is not only necessary for medical situations but also one of the basic requirements for obtaining a student visa in Germany. For Indian students, health insurance will typically cost $70 per month or $840 per year. There will be various other living expenses in Germany, such as your phone bills, charges for a student visa in Germany, auto insurance, fuel cost, and more. On average, a basic mobile package will cost $30 per month or $360 per year, while auto insurance costs roughly $1,500 yearly. Additionally, automobile fuel expenditures might be about $200 per month or $2,400 per year.
Germany is one of the best countries for higher education since it has a lot to offer students in terms of comprehensive education. So, get your student visa for Germany from India and begin planning your education in Germany.
If you are a student planning to study abroad in Germany, managing your foreign currency payments cost-effectively should be at the top of your priority list. Dealing with multiple currencies every time might be inconvenient. But Niyo Global can manage them all. Its unique INR-based interest-earning savings account combined with a Visa Signature debit card is the ideal package for Indian students studying abroad.
You may fund your account with Indian rupees, and your global card will instantly convert the amount to local currency anytime you make a transaction. Because it is on the Visa network, it works anywhere a Visa credit or debit card is accepted. The Niyo Global Card is the most cost-effective solution to arrange your foreign payments globally!