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Foreign students wishing to study in Germany, as well as those currently studying in this country, may soon have to prove they have more money in their blocked bank account in order to be eligible to obtain their German student visa or extend their student resident permit.
A blocked bank account is a way through which students can prove they will have the necessary financial means to support themselves while completing their higher education studies in the country. While currently, the amount required to be available in a blocked bank account per year is €10,332, Studying-in-Germany.org reports that starting from next winter semester, the amount required for a blocked bank account will increase to €11,172.
This means that, for now, students can withdraw €861, but starting from the next semester of the 2022/2023 academic year, they will be able to withdraw €931.
The move follows the approval of the increase in the minimum amount of monthly allowances for students benefiting from the German Federal Training Assistance Act (BAföG) from €861 to €931, reported last month by SchengenVisaInfo.com.
The changes were proposed by the Ministry of Education and Research in a bid to lure more students into applying for BAföG, which enables citizens to continue their education, providing them allowances, regardless of their financial means and the type of training they wish to pursue and were approved by the cabinet of the German government.
>> Germany to Increase BAföG Allowances for Students 2022/23 Winter Semester
According to Gent Ukehajdaraj from Studying-in-Germany.org, the increase in the yearly amount required for a blocked bank account for international students and BAföG is a result of the inflation that has hit the world, including Germany.
“With the prices going up, in particular when it comes to food and accommodation, it is obvious that students too will be affected,” Ukehajdaraj says, explaining that the amount will increase since the German authorities want to ensure that foreign students have the necessary amount to support themselves while in the country.
The German authorities increase the amount required for a blocked bank account time after time in order to adjust it to the needs of students and living costs in Germany. For example, while before the fall semester of the 2020/2021 academic year, the amount was set at €10,236, it then increased to €10,332 from the start of the semester, or from a monthly withdrawing limit of €853 to €861, an increase of less than one per cent.
In September 2021, the amount had increased from €8,640 to €10,236, thus marking one of the highest increases in the amount required for a blocked bank account in recent years (18.4 per cent).
>> Starting From September 1, Foreign Students Will Need €10,236 to Apply for a Germany Study Visa