The German government has confirmed a modest increase in the proof-of-funds requirements for student visa applicants for the 2024/25 academic year. As of 1 January 2023, the minimum financial threshold was set at €11,208 (US$12,135). For the upcoming academic year, this amount will rise to €11,904 (US$12,875), reflecting an increase of approximately 6%.
According to the Federal Ministry of Education and Research's Study in Germany website, students can fulfill the funds requirement in several ways. These include submitting certified documents showing family income and assets, providing a bank guarantee ("Bankbürgschaft"), or using a blocked account. A blocked account is specifically designed for international students and is offered by banks and service providers such as Expatrio, Coracle, and Fintiba. The account is considered "blocked" because students can only access it after arriving in Germany and are limited to withdrawing funds up to a specified monthly amount.
Any of these methods can be used to obtain a "Finanzierungsnachweis," or proof of funds, which is required when applying for a student visa to Germany.
The new requirement of €11,904 (US$12,875) keeps Germany's proof-of-funds threshold among the higher end of major study destinations. For comparison, Australia requires AUD$29,710 (US$19,540), Canada CDN$20,635 (US$14,930), Ireland €10,000 (US$10,680), and France €7,380 (US$7,980). Both Australia and Canada have announced significant increases to their funds requirements in recent months. In December 2023, Canada nearly doubled its proof-of-funds requirement, while Australia announced a 20%+ increase in May 2024, marking its second such increase within a year.
Foreign enrollment in Germany reached a record high during the winter semester of 2022/23, with nearly 370,000 international students enrolled—a 5% increase compared to 2021/22 and the fifth consecutive year of growth.