Student loans in Germany: Tips for international students

Studying in Germany is one of the smartest decisions you can make. With top-tier universities, tuition-free public education, and globally recognised degrees, it’s no surprise that more than 400,000 international students choose Germany every year.

At Prodigy Finance, we understand that finding the right financing solution is one of the biggest hurdles when planning your study abroad journey. That’s why we’re here - to support students like you with student loans in Germany that are designed for international education, without the usual barriers like collateral or co-signers. And if you're an Indian student, you can choose between a co-signer and a no co-signer loan option.

Let’s walk you through everything you need to know and share some essential tips for international students considering a student loan in Germany.

First, why Germany?

Germany has long been a magnet for international students, and for good reason:

• Public universities offer free or low-cost tuition

• Degrees are internationally respected

• Hundreds of English-taught Master’s programmes

• Generous post-study work opportunities (18-month job seeker visa)

• High quality of life, innovation, and culture

Still, even without high tuition fees, day-to-day expenses add up. Let’s take a closer look.

The real cost of studying in Germany

Here’s a breakdown of typical monthly costs:

Multiply that over a two-year programme, and you’re likely looking at €20,000 to €30,000 or more in living expenses—even without tuition fees.

This is where student finance for overseas study becomes critical.

Why you may still need a loan (even with “free” tuition)

Germany’s affordability is a huge advantage, but it’s not the full picture. International students must:

• Show proof of financial resources (typically €11,208 in a blocked account) before visa approval

• Cover monthly living expenses independently

• Pay semester contributions (€100–€350 per semester)

• Purchase mandatory health insurance

For many students, these costs can’t be covered by family savings or part-time jobs alone.

That’s why more international students are turning to Prodigy Finance for student loans in Germany that are tailored to their needs.

Read more: Student visa for Germany: step-by-step guide for 2025

How Prodigy Finance helps you study in Germany

At Prodigy Finance, we’re reimagining how global education is funded. We offer international student loans specifically designed for international students pursuing postgraduate degrees, without collateral or unnecessary complexity.

Here’s what makes our model different:

No collateral or co-signer needed (for most students)

We don’t ask for family assets, home guarantees, or someone in Germany to vouch for you. Our decisions are based on your potential, not your assets. We also offer co-signer loan options (for now, only available for Indian students).

Loans for tuition and living expenses

We know you need more than just tuition support. Our loans can also help cover:

• Rent and accommodation

• Health insurance

• Food, transport, and everyday living costs

Transparent and flexible

• Interest rates and terms you can understand

• Check your eligibility and see if we cover your school and course, with a free, no-obligation quote

• An online loan calculator to estimate your monthly repayments

• Repayment in EUR, USD, GBP, and select local currencies

Tips for getting a student loan in Germany

1. Start planning early

Begin your financing journey at least 3–6 months before your programme starts. This gives you time to apply for loans, gather visa documents, and plan your budget.

Apply early through Prodigy Finance and secure your loan before your visa appointment. Your loan approval can serve as proof of financial resources alongside a blocked account.

2. Get a quick estimate of your loan and repayments

Use our education loan calculator to get an idea of how much you could borrow and what your repayments might look like.

We’ll consider:

• The loan amount and repayment term you select

• Your estimated monthly payments

• Interest costs over time

When you apply, we’ll personalise your offer based on:

• Your chosen university and programme

• The total cost of attendance

• Your future earning potential

This helps us create a loan that’s tailored, transparent, and manageable.

3. Compare options carefully

We always encourage students to understand their choices. When comparing lenders, look at:

• Interest rates (fixed versus variable)

• Repayment period (ours range from 7 to 15 years)

• Grace period after graduation (we offer a 6-month buffer, depending on your school and programme you choose)

• Disbursement process (we send your funds directly to your blocked account/university)

Not all loans cover living costs or offer flexible repayment in your preferred currency. At Prodigy Finance, we’ve designed every feature around the needs of international students.

4. Think beyond the blocked account

A blocked account is usually required for visa approval, but it doesn’t last long. Once you arrive in Germany, you’ll need continuous access to funds throughout your degree.

Our student loans in Germany provide ongoing financial support, ensuring you’re covered from your first semester through graduation.

5. Budget realistically

Create a monthly budget that includes:

• Rent and utilities

• Public transport

• Semester fees

• Groceries and essentials

• Occasional travel or social activities

Then use our loan calculator to estimate your future repayments and align your income expectations with your lifestyle today.

6. Prepare for repayment early

With Prodigy Finance:

• You’ll have a grace period of up to 6 months after graduation (depending on your school and the programme that you choose) 

• You can repay in your choice of supported currencies

• There’s no penalty for early repayment

If you secure a job quickly after graduation (which many of our borrowers do), you can start early and save on interest.

Prodigy Finance loans are available to students who:

• Are an international student in one of 120+ supported countries

• Have been admitted to a supported postgraduate programme at a German university

• Meet our academic and employment potential criteria

We support a wide range of degrees, including:

• Engineering (MS, MEng)

• Computer Science and Data Science

• MBA and Business degrees (MIM, MSc)

• Public Policy, Law, and Economics

Want to check your eligibility? It only takes a minute—use our online education loan eligibility checker today.

Our application process: Fast, simple, online

Here’s how it works:

1. Check your eligibility

2. Get a custom rate and a provisional loan offer

3. Upload your documents securely

4. Review and sign your loan agreement

5. We send the funds directly to your blocked account or university

It’s really that simple—no long bank queues, no endless paperwork.

Final thoughts: Your future, funded

Germany offers an incredible academic experience, and navigating your finances doesn’t have to be complicated. At Prodigy Finance, we make sure international student loans are as smart and global as you are.

Whether you're planning to study engineering in Frankfurt, computer science in Berlin, or an MBA in Mannheim, we’re here to help you get there—confidently and affordably.

✅ Ready to begin?

• Use our international student loan calculator

• Check your eligibility instantly

• Start your application today

Prodigy Finance: Funding ambition, not background.

FAQs

*Loan and promotion offers are subject to our eligibility, funding, and credit assessment criteria.

The Prodigy Finance Loan Calculator (the “Calculator”) is provided for informational purposes only and may be used as a general guide only and is provided "as is". In addition to liability clauses in the Terms of Use, which also governs the display and use of the tool, Prodigy Finance Ltd make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the tool or the information it provides and is not responsible or liable for any errors in or omissions from the tool and the results provided. The Calculator may only be used for your personal use and may not be used for any commercial or business purposes. The results do not constitute an offer for a loan or imply in any way that the user of the Calculator will be eligible for a loan with Prodigy Finance or will receive a loan offer from Prodigy Finance, if they apply. The calculation does not include all mandatory fees usually charged by Prodigy Finance or take into account any changes to the interest rate or any missed, short or additional payments made on a loan.