Student Loan Germany
Overseas students should strongly consider studying in Germany because of the countless opportunities that arise as a result of doing so. While Germany is known for being one of the most inexpensive countries to study in, international students frequently encounter living expenses that consume a significant portion of their budget. There are several banks and non-banking institutions in India that give education loans at low-interest rates for students interested in acquiring a student loan in Germany. Applying for a education loan for Germany has evolved since its inception, and those who choose to do so can now do so with ease.

Eligibility Criteria of an Education Loan for Germany
There are a lot of factors involved when it comes to taking an education loan for Germany. The first step to seeking a student loan is to know if students qualify for one or not. It is therefore important to check the qualifying requirements once students have decided to take out an education loan. The following are the necessary criteria for obtaining a student loan in Germany in India:

1. The applicant must be an Indian citizen.
2. The student must have been admitted into one of the German universities recognised by the bank.
3. The student must be at least 18 years old.
4. To repay the loan following their study, the candidate should have been accepted into a job-oriented programme.

Documents Required for a Study Loan in Germany
A student loans in Germany for international students can be obtained through nationalised banks or NBFCs when planning their finances well and knowing what documents are required to get started with the procedure. FeeTap generates a list of documents for students based on their profile, the profile of their co-applicant, and any collateral they submit. However, these are the documents that international students in Germany must have in order to obtain a loan.

1. KYC Documents - Aadhar Card, PAN Card, Passport
2. Academic Documents - Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses, Copy of admission letter of the Institute along with Fees schedule
3. Financial Documents - Bank Statement/ Passbook of the last 6 months.

Cost of Studying Abroad in Germany
The cost of studying in Germany for international students varies depending on the university and programme chosen. However, living expenses are an inevitable part of a student’s journey overseas and this is when a student loan in Germany may come in handy. Public Universities - There are no tuition fees in Germany for public universities. However, there may be a minimal enrollment fee that you must pay each semester in some situations. Typically, the registration fee is between €250 and €350. Private Universities - While public universities are fairly inexpensive, students attending private universities face a different situation. International students studying at a private university in Germany may expect to pay anywhere from €25,000 to €40,000 in tuition fees, depending on the subject. MBAs and engineering programmes are often the most expensive.

Things That an Education Loan in Germany Covers
At the time of enrollment, the university will supply students with documents that clearly state the cost as well as the total amount necessary to complete the selected course. It is important to note that, while German institutions do not charge a tuition price, there are additional expenditures that students incur during their stay in the country, most of which are usually covered by your student loan in Germany. An institution's loan, on the other hand, would be strictly for educational purposes and would not cover personal costs. The loan amount sanctioned would cover the following expenses: Tuition costs (if any) Student housing expenses Caution deposit funds (security) Travel & Transport expenditures Study tours, Project Works, and Fieldwork during the course of your academic year Books, Laptop, Stationary Miscellaneous expenses associated with completing the course

Types of Loans Available to Study Abroad in Germany
There are two types of education loans provided in Germany for students. They include -

Secured Education Loans: These are student loans that are backed by the collateral attached to them. In order to get a secured education loan, students would be required to pledge an asset as collateral to the lender. There are two categories of collateral to choose from:

Property, lands, shops or stores, and other tangible assets are examples.
Fixed deposits, government bonds, and insurance are examples of intangible assets.
Unsecured Education Loans: These loans do not need the use of collateral. In order to obtain an unsecured loan in Germany, it is not required to present any type of collateral to the lender. However, a co-applicant is necessary, and the co-applicants income will be a key factor in the financing.

Education Loan for Germany without Collateral
As stated previously, obtaining a student loan in Germany without collateral is also possible. When seeking education loan for Germany, many students prefer to avoid having to deal with any kind of collateral. FeeTap enables this and makes it easy for students by offering no-collateral loans for international students in Germany. This means that the student loan can be approved without requiring students to present a tangible or intangible asset, as well as the accompanying documents and paperwork.

Tips for Choosing the Best Education Loan
There are a few factors to bear in mind as an international student seeking a student loan in Germany, both before and after the loan is approved. Among them are -

1. Make sure to double-check the processing costs of the loan.
2. Compare loans based on the amount of income tax exemptions available.
3. Check the loan margin amount before applying.
4. Keep track of the loan's processing time.
5. Examine the loan repayment terms.
6. Choose a longer term so students can budget for their repayments ahead of time.
7. Make the loan application at least 3 months prior to the scheduled visa interview.

Why Choose FeeTap?
FeeTap, unlike any other platform, makes securing student loans easy. Here are some of the reasons why receiving a student loan in Germany with FeeTap is the best choice: Full financing (up to 100 %) for tuition and living expenses No margin money Immediate sanctions in the event of an emergency Options for customised financing Comparing education loans Tracking of loan applications Loans with no collateral Doorstep delivery of services Paperless approval of loans

Top Universities In Germany & Their Rankings
Here’s a list of the top universities in Germany along with their 2023 rankings

Germany Rank 2023 Universities THE World University Ranking 2023
1 Technical University of Munich 30
2 LMU Munich 33
3 Heidelberg University 43
4 Charité - Universitätsmedizin Berlin 73
5 Humboldt University of Berlin =86
=5 University of Tübingen =86
7 University of Bonn 89
8 Free University of Berlin =91
9 RWTH Aachen University =99
10 University of Freiburg 113



Popular Courses To Study In Germany
With high-quality programmes and courses to offer, Germany attracts several international students. Some of the top courses to pursue in Germany with great scope in the global market are listed below,

Medicine and Dentistry
Law
Industrial Engineering
Engineering
Mathematics and Computer Science
Natural Sciences
Business and economics
Architecture
Psychology
Philosophy and the Humanities


Student Visa Requirements For Germany
In order to be eligible to apply for a student visa to Germany, here are some requirements that must be met -

You must have a passport that is valid for at least one year from the date of visa application with a minimum of 2 empty visa pages.
2 scanned copies of the passport’s personal information page in A4 format.
Two copies of the Visa Application Form - Fully filled & Signed.
2 copies of fully filled & signed declaration form for further contact and legal counsel details.
Three biometric visa photos.
Proof of acceptance into a German study programme or preparatory college. The letter must include information on the language of teaching for the courses.
Evidence that you are at least B2-level fluent in the language of instruction. Please submit the original as well as two copies.
Any academic credentials and certifications. Provide the original and two copies.
Certificate issued by the APS (Academic Evaluation Centre)
Your CV
Evidence of financial means to sustain oneself throughout your stay.
Travel Health Insurance.
Demand Draft for the Student Visa fees.

Banks & NBFCs Offering Study Loans For Germany
Several banks & financial institutions offer education loans for students to study in Germany. Here’s a list of some of them

Avanse Student Loans
ICICI Bank
Axis Bank
HDFC Credila
Auxilo
InCred
Bank of Baroda
Credence
Prodigy
J&K Bank
Education Loan Options With Collateral In Germany

Particulars Public Banks Private Banks NBFCs
Lenders SBI, BOB Axis Bank Avanse, Incred
Loan Amount (INR Upto 1.5 crore Upto 60 lakhs Upto 50 lakhs
Interest Rate Rang 8.85%-10.25% 11%-13.5% 12%-14%
Processing Fees (INR) INR 11800 + Property Evaluation Charges
INR 15,000+GST if loan amount <=20 lakhs

& INR 750 on every 1 lakh above 20 lakhs + Property Evaluation Charges

1-2% of the loan amount
Payment During Study Period NO Simple Interest Simple Interest

Education Loan Options Without Collateral In Germany

Features Public Bank Private Banks NBFCs
Lenders State Bank of India (SBI), Bank of Baroda (BOB) Axis Bank Avanse, Incred
Loan Amount (INR) Upto 7.5 lakhs INR 40 lakhs (For Few Selected Universities, for others only up to INR 7.5 Lakhs) INR 20 lakhs (Easier for Master’s courses as compared to others, amount based on the co-applicant income)
Interest Rate Range 10%-11% 11.25%-12% 12%-16%
Processing Fees (INR) NO INR 15000+GST if loan amount <=20 lakhs And INR 750 on each 1 lakh above 20 lakhs 1-2% of the loan amount
Payment During Study Period NO Simple Interest Simple Interest