Studying in Germany requires not only academic preparation, but also realistic financial planning.
Cost of living
The costs depend on your personal lifestyle, but living abroad is always relatively expensive. Taking all aspects into account, students should generally expect to pay around € 600.00 - € 850.00 per month to live on. (as of February 2025)
- Rent Studierendenwerk Ulm: approx. € 300 - € 500 plus deposit and processing fees
- Health insurance: since 01.01.2015, all statutory health insurance companies have been charging individual additional contributions. The monthly contribution for students consists of: Health insurance + additional contribution depending on the health insurance company + nursing care insurance. On average, the health insurance contribution is between € 125 and € 150
- Meals in the canteen: a meal in the canteen costs around € 2.00 - € 5.00
- Teaching materials: € 30.00 - € 100.00 for textbooks, learning materials, teaching materials per semester
- Mobility: Deutschlandticket, JugendTicket BW
- Broadcasting fees: € 18.36 per month (further information here under the heading Broadcasting fees)
- Semester fees and tuition fees: Information here
Banks
Account & Cash
- A current account is used for transfers, direct debits and direct debit authorizations.
- You can use your EC card (Maestro) to make cashless payments and withdraw money.
- The card and PIN are sent separately by post.
- Current accounts are usually free of charge for students, but account management fees may apply from the age of 25.
- Cash withdrawals are free of charge at ATMs of your own bank or partner banks, at other banks there is usually a charge of € 2.50 - € 5.00.
- Account statements are available at the bank or via online banking.
Bank transfers & online banking
- In Germany, many payments are made by bank transfer.
- For SEPA transfers you need:
- IBAN: 22-27-digit international bank account number
- BIC: international bank sort code
- Transfers within the EU do not cost any more than domestic transfers.
- Most banks offer transfers at ATMs or via online banking.
- Banking apps make the process easier and are often free of charge.
Direct debit authorization & standing order
- Regular payments such as rent or insurance are debited by direct debit authorization or standing order.
- Make sure you have sufficient funds in your account, otherwise fees will be charged.
Credit cards
- Credit cards are less common. Many stores only accept EC cards, sometimes with a minimum amount (e.g. € 5 - € 10).
- Cash withdrawals with credit cards are usually subject to a fee.
Scholarships
- Information about scholarships can be found here. (only in German)
- Information about BAföG can be found here.
An entitlement to educational support for foreign students results from the requirements of §8 BAföG. The decisive factor is the residence permit or the legal basis on which residence in Germany is permitted.
Discounts
The Deutschlandticket is an inexpensive way to use local and regional transportation throughout Germany. Students receive discounts for concerts, exhibitions and events as well as free access to the solar boat on the Danube from May to October.
In addition, some software manufacturers offer discounts on the purchase of software. (see
here under the heading
Software for students)
