Studying in Germany is an excellent choice for international students, thanks to its top-notch education system and relatively low tuition fees.
However, living costs and other expenses can still pose a challenge.
Student loans designed for international students offer much-needed financial assistance, helping to cover costs like rent, tuition, and daily living expenses.
Here are the 7 best student loan for international students in Germany, tailored to meet diverse needs.
Best Student Loan for International Students in Germany
| Loan Provider | Loan Amount | Co-signer Requirement | Interest Rates | Loan Terms | Eligibility Requirements |
|---|---|---|---|---|---|
| KfW Student Loan | €1,000 – €65,000 | No | 4.36% – 5.36% | 7 – 25 years | Students under 44, studying in Germany |
| Deutsche Bank Student Loan | €10,000 – €75,000 | Yes | 5.99% – 8.99% | 5 – 10 years | Enrolled in a German university |
| Prodigy Finance | Up to €100,000 | No | 9% – 11% | Up to 20 years | Enrolled in partnered programs |
| MPOWER Financing | $2,001 – $50,000 | No | 11.99% – 13.99% | 10 years | Enrolled in eligible universities |
| Auxmoney | €1,000 – €50,000 | No | 3.95% – 16.50% | 12 – 84 months | Valid residence permit |
| College Ave Student Loans | $5,000 – $80,000 | No | 5.99% – 12.99% | 5 – 15 years | Enrolled in eligible institutions |
| Erasmus+ Master Loan | Up to €12,000 | No | 5.40% (fixed) | 5 years | Enrolled in Erasmus-participating programs |
1. KfW Student Loan
- Loan Amount: €1,000 – €65,000
- Interest Rates: 4.36% – 5.36%
- Loan Terms: 7 – 25 years
KfW is a German state-owned development bank offering loans specifically for students.
No co-signer is required, and the loan is available to international students under certain conditions, such as holding a residence permit.
Funds can be used for living expenses and are disbursed monthly.
2. Deutsche Bank Student Loan
- Loan Amount: €10,000 – €75,000
- Interest Rates: 5.99% – 8.99%
- Loan Terms: 5 – 10 years
Deutsche Bank offers tailored student loans for international students, typically requiring a co-signer or a blocked account as collateral.
This loan is designed to cover tuition and living expenses for students enrolled in recognized German universities.
3. Prodigy Finance
- Loan Amount: Up to €100,000
- Interest Rates: 9% – 11%
- Loan Terms: Up to 20 years
Prodigy Finance focuses on international students in postgraduate programs, providing loans without requiring a co-signer.
The loan amount depends on the student’s future earning potential and is available for tuition and living expenses.
4. MPOWER Financing
- Loan Amount: $2,001 – $50,000
- Interest Rates: 11.99% – 13.99%
- Loan Terms: 10 years
MPOWER Financing offers loans without requiring a co-signer, collateral, or a credit history.
This option is ideal for international students studying in Germany who are enrolled in eligible programs.
The loan supports tuition, living expenses, and other educational costs.
5. Auxmoney
- Loan Amount: €1,000 – €50,000
- Interest Rates: 3.95% – 16.50%
- Loan Terms: 12 – 84 months
Auxmoney is a peer-to-peer lending platform that provides loans to international students in Germany.
No co-signer is required, but borrowers must have a valid residence permit and provide proof of income or a guarantor.
6. College Ave Student Loans
- Loan Amount: $5,000 – $80,000
- Interest Rates: 5.99% – 12.99%
- Loan Terms: 5 – 15 years
College Ave offers flexible student loans without requiring a co-signer, making it accessible for international students.
This U.S.-based lender extends its services to students in Germany, providing competitive interest rates and customizable repayment plans.
7. Erasmus+ Master Loan
- Loan Amount: Up to €12,000
- Interest Rates: 5.40% (fixed)
- Loan Terms: 5 years
The Erasmus+ Master Loan is a European Union initiative offering loans to students pursuing master’s degrees in Erasmus-participating countries, including Germany.
This loan does not require a co-signer, and the fixed interest rate ensures predictable repayments.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Can international students get loans in Germany without a co-signer?
Yes, loan providers like KfW, Prodigy Finance, MPOWER Financing, and Auxmoney offer student loans without requiring a co-signer, though additional eligibility criteria may apply.
What interest rates are typical for student loans in Germany?
Interest rates range from 3.95% to 16.50%, depending on the loan provider, loan type, and borrower’s profile. Loans tied to fixed rates, like Erasmus+, provide more predictable repayments.
What documents are required to apply for a student loan in Germany?
Typical requirements include:
Proof of enrollment in a recognized German institution
Valid residence permit
Passport or other identification
Bank statements or proof of financial stability
Conclusion
Germany offers a range of student loans to support international students in their academic journey.
From government-backed loans like KfW to flexible options like Prodigy Finance and Auxmoney, there is a loan to fit every need.
When selecting a loan, compare factors like interest rates, repayment terms, and co-signer requirements to make the most informed decision.
With the right financial support, you can focus on achieving your academic goals while studying in one of the world’s most student-friendly countries.
