Starting September 1, 2024, Germany will increase the required amount for a blocked bank account from €11,208 to €11,904 for student visa applicants. This 6.2% increase, driven by inflation, affects all students applying to study in Germany.
The German Academic Exchange Service (DAAD) has also alerted students to this change. Since January 2023, students needed to demonstrate funds of €934 per month or €11,208 per year. From September 2024, the required monthly amount will rise to €992, totalling €11,904 annually.
A blocked bank account, mandatory for student visa applicants, restricts students to withdrawing a maximum monthly amount, currently set at €934, increasing to €992 next month. This measure ensures students have sufficient financial means to support their studies.
The increase has sparked discontent among students, particularly on social media platforms like X (formerly Twitter). Critics argue that the higher amount makes Germany less welcoming to foreign students, as many struggle to deposit nearly €12,000 in advance despite having regular incomes.
Experts, however, assert that the increase is a necessary adjustment due to inflation. Gent Ukehajdaraj from Studying-in-Germany.org noted that students are generally aware of periodic adjustments to the blocked account requirements to ensure financial security during their studies.
Despite the hike, Germany remains a top destination for international students, with 458,210 foreign students enrolled in the academic year 2022/2023.