Germany is one of the top destinations for international students, offering world-class education at relatively low costs.
While tuition fees are generally minimal, living expenses can still be significant.
To support international students financially, various banks and organizations provide student loans tailored to their needs.
This article outlines the 9 best student loan for international students in Germany, including details on eligibility, interest rates, and loan terms.
Best Germany Student Loans for International Students
| Loan Provider | Loan Amount | Co-signer Requirement | Interest Rates | Loan Terms | Eligibility Requirements |
|---|---|---|---|---|---|
| 1. KfW Student Loan | Up to €650/month | No | 4.36% | 4 – 10 years | Students under 44 years enrolled in German universities. |
| 2. Deutsche Bank Student Loan | Up to €75,000 | Yes | 3.5% – 7% | 5 – 15 years | Enrollment in a German university. |
| 3. Prodigy Finance | Up to $100,000 | No | 7.5% – 11% | 7 – 20 years | Admission to partner universities. |
| 4. Auxmoney Private Loan | Up to €50,000 | No | 4% – 12% | 2 – 10 years | Strong credit profile required. |
| 5. Fintiba Blocked Account | Up to €11,208/year | No | None (administration fees apply) | Duration of studies | Required for German visa. |
| 6. College Ave Student Loans | Up to $150,000 | Yes | 4.44% – 14.49% | 5 – 20 years | Enrollment in a U.S. university. |
| 7. Santander Bank Student Loan | Up to €60,000 | Yes | 3% – 6% | 5 – 10 years | Valid student visa and enrollment in Europe. |
| 8. Sparkasse Education Loan | Up to €50,000 | Yes | 4% – 7% | 2 – 10 years | Enrollment in German institutions. |
| 9. ISIC Emergency Loan | Up to €5,000 | No | Varies | Short-term | Available to ISIC cardholders for emergencies. |
1. KfW Student Loan
KfW offers one of the most popular student loans for international students studying in Germany.
- Loan Amount: Up to €650/month, with a maximum of €39,000 over the loan term.
- Interest Rates: Fixed at 4.36%.
- Loan Terms: 4 to 10 years, with flexible repayment options.
- Eligibility: Open to students under 44 years old enrolled in a German university.
2. Deutsche Bank Student Loan
Deutsche Bank provides comprehensive financial support, including loans and blocked accounts required for visa applications.
- Loan Amount: Up to €75,000.
- Interest Rates: Between 3.5% and 7%.
- Loan Terms: 5 to 15 years.
- Eligibility: Students must have enrollment in a German university and may require a co-signer.
3. Prodigy Finance
Prodigy Finance is an excellent option for international students who don’t have a co-signer.
- Loan Amount: Up to $100,000.
- Interest Rates: Variable, between 7.5% and 11%.
- Loan Terms: 7 to 20 years.
- Eligibility: Only available for students admitted to Prodigy’s partner universities worldwide.
4. Auxmoney Private Loan
Auxmoney offers private loans that are flexible and tailored to individual creditworthiness.
- Loan Amount: Up to €50,000.
- Interest Rates: 4% to 12%.
- Loan Terms: 2 to 10 years.
- Eligibility: A strong credit profile is essential, and income proof may be required.
5. Fintiba Blocked Account
Fintiba specializes in blocked accounts required for German student visas.
- Loan Amount: Up to €11,208 per year (as per visa requirements).
- Interest Rates: None, but administration fees apply.
- Loan Terms: Matches the duration of the student’s studies.
- Eligibility: Available to all international students needing a blocked account for visa purposes.
6. College Ave Student Loans
Although based in the U.S., College Ave offers loans for students studying abroad at eligible institutions.
- Loan Amount: Up to $150,000.
- Interest Rates: Variable, from 4.44% to 14.49%.
- Loan Terms: 5 to 20 years.
- Eligibility: Requires enrollment in a U.S. university and typically a co-signer.
7. Santander Bank Student Loan
Santander Bank is a trusted name in Europe, offering student loans with competitive rates.
- Loan Amount: Up to €60,000.
- Interest Rates: 3% to 6%.
- Loan Terms: 5 to 10 years.
- Eligibility: Applicants must have a valid student visa and enrollment in a European institution.
8. Sparkasse Education Loan
Sparkasse provides educational loans to both domestic and international students.
- Loan Amount: Up to €50,000.
- Interest Rates: 4% to 7%.
- Loan Terms: 2 to 10 years.
- Eligibility: Enrollment in a German educational institution is required.
9. ISIC Emergency Loan
The ISIC Emergency Loan is a short-term solution for international students facing urgent financial needs.
- Loan Amount: Up to €5,000.
- Interest Rates: Varies based on provider terms.
- Loan Terms: Short-term (typically under a year).
- Eligibility: Available to ISIC cardholders.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Do international students need a co-signer for loans in Germany?
Not all loans require a co-signer. Providers like KfW and Fintiba offer options without the need for a co-signer, while Deutsche Bank and Sparkasse may require one.
How can international students apply for a blocked account in Germany?
International students can use platforms like Fintiba or Deutsche Bank to open a blocked account. This account is required for obtaining a student visa and proves financial means.
Are private loans like Auxmoney a good option for international students?
Auxmoney is a viable option for students with strong credit profiles. However, it’s important to compare interest rates and terms with other providers to find the best deal.
Conclusion
Germany offers a range of student loan options for international students, from government-backed loans like KfW to private providers such as Prodigy Finance and Auxmoney.
Depending on your financial needs, eligibility, and co-signer availability, you can choose a loan that best fits your situation.
Be sure to explore each provider’s terms carefully to make an informed decision.
