Discover top international student loan options in the Germany

Germany is one of the most inexpensive and underrated study destinations for international students. The problem is that the students need to spend a large chunk of money on living expenses. But it would be an ideal study destination if banks could finance education loans for Germany.

Many banking and non-banking institutions offer loans for Indian students wanting to study in Germany. To check if you’re eligible to get a study loan for Germany, you need to tick out these eligibility standards:

1. Be an Indian citizen.
2. Must be at least 18 years of age
3. Have a decent academic history.
4. Already be enrolled at one of the universities in Germany recognized by the bank.
5. Be admitted into a programme that prepares them for a job after finishing their studies

Note: The listed criteria are basic ones for Indian students going to Germany universities but to apply for a particular university, it is best to check their respective eligibility criteria.

The banks that offer student loans check your ability to repay the loan after completing your education. To do that, they confirm that you are a legal student who has been accepted into a reputed university in Germany.

1. Aadhar Card
2. PAN Card
3. A valid passport
4. Mark sheets of 10 and 12th grade
5. A copy of the admission letter
6. Fees schedule of the university
7. Bank Statement of the last 6 months

Note: Make sure to check the list of papers needed with the bank, as the requirements can vary based on the bank's rules for student loans in Germany

While the public universities in Germany do not charge a tuition fee, they may ask you to pay an enrollment fee at the time of admission. Many loan programs now help with more than just tuition fees for studying in Germany—they can cover various expenses in Germany like:

1. Tuition fee (if any)
2. Housing expenses
3. Caution deposit funds
4. Travel expenses
5. Study tours and project work
6. Reading materials
7. Laptop

In India, there are generally two types of student loans for studying in Germany.

1. Secured Education Loans: To apply for a secured education loan, you need to have collateral like apartments or government bonds.
2. Unsecured Education Loan: Students who do not have any collateral as a guarantee can apply for an unsecured education loan but they need to have a co-applicant whose income will determine if they are eligible for a study loan for Germany.

Public universities in Germany do not charge any tuition fee from their students but there may be a minimal enrollment fee that needs to be paid after each semester.

1. Public universities: €250 - €350.
2. Private Universities €25,000 - €40,000 (Tuition fees)

Germany is a great option for Indian students to study abroad. Here’s how they can choose the best education loan to finance their studies:

1. Always double-check the processing fee of the loan.
2. One of the best ways to compare loans is to check the amount of income tax exemptions
3. Make sure to track of the loan's processing time.
4. Read the loan repayment terms carefully.
5. Apply for the loan application at least 3 months before the scheduled visa interview.

Lorien isn’t just an education loan platform, it takes care of your entire study abroad plans in Germany. Here is why Lorien is your best buddy for your abroad dream:

1. We Help students in getting loan that covers 100% university fees and cost of leaving.
2. We charge ZERO fees for our services
3. We help you navigate necessary cosigners for Indian banks & no cosigner provisions for international banks at low interest rates.
4. We help you compare the best education loans possible.
5. We keep track of your loan application and bargain for the best price.

Germany is a very friendly option for Indian students for studying abroad because of its world-class education and free tuition fees. While they offer a number of courses, here are the most chosen ones.

1. Engineering
2. Computer Science and Information Technology
3. Medicine and Healthcare
4. Business Administration and Management
5. Natural Sciences
6. Architecture and Urban Planning
7. Language and Cultural Studies
8. Environmental and Renewable Energy Studies

Indian students who wish to pursue higher education in Germany need to submit a few documents. The specific requirements can vary for each student, but here is a list to take note of:

1. A passport valid for at least 1 year from the date of visa application & minimum 2 empty pages.
2. 2 scanned copies of the passport’s personal information page in A4 format.
3. 2 copies of the Visa Application Form ( filled & signed)
4. 2 copies of filled & signed declaration form for further contact and legal counsel details.
5. 3 biometric visa photos.
6. Proof of acceptance into a German study programme.
7. Original evidence of B2-level fluency in the language of instruction.
8. Academic credentials and certifications.
9. Certificate issued by the APS (Academic Evaluation Centre)
10. CV
11. Evidence of financial means
12. Travel Health Insurance.
13. Demand Draft