How to get a student loan in Germany: A step-by-step guide for international students
Need help funding your studies in Germany? Learn how international students can secure a student loan without collateral.
Thinking of studying in Germany? You're not alone. Germany remains one of the most attractive destinations for international students, thanks to its world-class universities, multicultural environment, and, perhaps most appealing, tuition-free education at public institutions.
But while tuition is a big plus for Germany, living costs are not. Rent, food, insurance, transport, these expenses quickly add up. That’s where student loans in Germany come in.
At Prodigy Finance, we believe funding should never be a barrier to opportunity. So if you're wondering how to cover both your education and living expenses while pursuing your degree in Germany, this guide is for you.
Why students choose Germany—and still need financial support
Germany hosts over 400,000 international students. Why?
Affordable or free public university tuition
Degrees offered in English across disciplines
High post-study work potential (up to 18 months on a job-seeking visa)
High-quality education and strong research opportunities
Here’s a breakdown of typical monthly costs:
Expense | Estimated Monthly Cost |
|---|---|
Rent & Utilities | €350 – €700 |
Health Insurance | €100 – €120 |
Food & Groceries | €200 – €300 |
Transportation | €80 – €100 |
Personal & Leisure | €100 – €200 |
Total Estimate | €830 – €1,420 |
Multiply that over 12 to 24 months for a Master’s degree, and you're looking at €20,000 to €30,000 or more.
Read more: Life in Germany as an international student: culture, work, and career opportunities
Can you get a student loan in Germany as an international student?
Yes—international student loans are available in Germany. The key is choosing the right loan based on your background, residency status, and financial needs.
Common types of student loans in Germany
1. BAföG (Federal student financial assistance)
Primarily for German and EU nationals. Not ideal for non-EU students unless you meet specific long-term residency criteria.
2. German bank loans
Some banks offer education loans, but they often come with requirements such as:
Long-term residence permits
Strong German language skills
Local guarantor or collateral
Loans like the KfW Student Loan offer fair rates, but eligibility is limited for non-EU students. Traditional banks can also involve complex, time-consuming processes.
3. International student loans (like Prodigy Finance)
Prodigy Finance offers student loans without collateral or co-signers to eligible international students pursuing postgraduate degrees at top universities in Germany and beyond. We also offer co-signer loan options (for now, only available for Indian students).
Our application process is 100% online. You can check your eligibility in minutes using our express eligibility checker and get a personalised rate without affecting your credit score.
Why choose Prodigy Finance?
Here’s why Prodigy Finance is trusted by students worldwide:
No collateral, no co-signer for most students
Forget property documents or co-signers based in Europe. We make decisions based on your potential, not your paperwork. Also, if you have someone who can vouch for you, you can opt for our new co-signer loans (for now, only available for Indian students)
Fast, transparent, and entirely online
Use our online eligibility checker to find out if your schools and programme is supported for a loan before applying. If you are, you’ll get a provisional offer in minutes, and our team will keep you posted on every step.
Flexible repayment terms
Repay in USD, EUR, GBP, or other supported currencies
Grace period after graduation (typically 6 months, depending on your school and programme)
Loan tenures up to 20 years*
Globally trusted
We’ve supported over 45,000 students from 150+ countries studying at 1800+ schools—including top institutions in Germany.
What can a Prodigy Finance loan cover?
Our loans can help with:
Tuition fees
Health insurance premiums
Rent and accommodation
Student visa and travel costs
Living expenses during your studies
Whether you're pursuing an MBA, MSc, MIM, or another postgraduate degree, we’re here to support your financial journey from pre-departure to post-graduation.
How much can you borrow?
This depends on:
Your university and programme
Total cost of attendance
Financial need
Prodigy Finance offers loans up to $220,000*, depending on your program’s cost of attendance. Use our student loan calculator to estimate your monthly repayments based on your loan amount and term.
Application process: Step-by-step
Applying with Prodigy Finance is fast, simple, and entirely online.
Step 1: Check your eligibility
Use our eligibility calculator to confirm if your school and course are supported.
Step 2: Submit an online application
Upload your admission letter, ID proof, and other basic documents.
Step 3: Get your offer
We assess your academic profile, the programme’s return on investment, and your future earning potential. If eligible, you’ll receive a customised offer.
Step 4: Accept and sign
Once you're happy with the terms, accept and sign your loan agreement digitally.
Step 5: Funds disbursed
Funds are sent directly to your university, typically in EUR or your programme’s preferred currency.
Who can apply?
You may be eligible if:
Your university and programme are on our supported school list
You're studying in a supported country (like Germany)
You're from a country we support
Not sure if you qualify? Use our eligibility checker to find out in seconds.
Final thoughts: Your journey starts with confidence
Studying in Germany is a smart decision—but it shouldn’t come with financial stress. At Prodigy Finance, we’re making student loans accessible, fair, and flexible so you can focus on your future.
Whether you’re budgeting your costs, looking for an education loan for MS in Germany, or just curious about your options, our tools and team are here to help.
Prodigy Finance—funding your potential, not your past.
FAQs
Can I get a student loan in Germany without a co-signer or collateral?
Does Prodigy Finance support students at German universities?
What are the interest rates and repayment terms?
Can I borrow for both tuition and living expenses?
What currency do I repay in?
