Generally speaking, the types of loans involved in studying in Germany are the above-mentioned margin loans and study abroad loans, and the conditions and requirements of the two loans are different. The deposit loan for studying in Germany means that the applicant can't meet the deposit requirements put forward by the German embassy and doesn't have enough funds to deposit in the bank account. The applicant borrows money from an insurance company, and the financial institution produces a certificate of funds that meets the requirements. Generally speaking, deposits must be kept in the bank for more than six months.
Do margin loans provide guarantees like other loans? According to the detailed introduction of the Bank of China, there are no other restrictions on the study abroad deposit loan, and there is no need for loan guarantee. Just deposit the full loan interest in advance and it can be done in seven working days. The difference between margin loans and other loans is that the applicant is not given cash, and it is necessary to provide proof of funds to prove that the applicant has a full margin meeting the standards of the German Embassy and is fully capable of studying in Germany.
Take the margin loan as an example. Suppose that the German embassy needs to provide a margin of more than 200,000 yuan, and the international students have a margin of more than 1 10,000 yuan, and the loan period is more than 6 months. Bank of China will find the relevant guarantee company to guarantee your loan, and show you the proof of full capital of 200,000 yuan. The annual loan interest rate will rise by 5% according to the benchmark loan interest rate for the same period, and the loan term will depend on the specific needs of the applicant.
Another loan for studying in Germany is the study abroad loan. This kind of loan is caused by insufficient funds when the applicant has passed the student visa and clearly decided to study abroad. For this kind of loan, studying abroad generally requires guarantee, which is different from margin loan.
There are generally two kinds of contracts for studying abroad loans, mortgage loans and pledge loans. The loan guarantor of mortgage loan is the applicant himself and his parents. Other loan guarantors are not recognized. The loan guarantor has detailed property rights to the pledged property, and the property without mortgage loan cannot be pledged. Mortgage loan will evaluate the property, which usually takes 20 to 30 working days, which is more complicated. Pledged loan means that the applicant and his parents pledge all the bank deposits.
What is the highest cost of living in Germany? For German students, rent is the highest part of the cost of studying abroad. Rental expenses may account for 10%-50% of all expenses for studying abroad.
Student apartments are generally the most cost-effective choice for international students, and the dormitory cost is generally around 200 euros, which can basically be regarded as the cheapest hotel accommodation. In addition, shared apartments are more common, and the monthly rent is generally around 280 euros.
However, in some big cities in Germany, such as Frankfurt, Munich and Berlin, the rent for renting a house off campus is generally high, about 300 euros.
For international students, the most basic way to solve the housing problem is to eat in the children's canteen. The food in the student canteen is still cheaper, or a cheaper and more affordable choice. But ... delicious or not ... let's judge for ourselves. Hey hey.
If the food you want is suitable and then cheap, the most intuitive way is to cook by yourself. Therefore, the catering cost in Germany as a whole is not very high. Without special requirements, the monthly meal fee is about 160 USD.
Travel allowance/expenses
German universities provide students with preferential transportation policies, and they can enjoy preferential transportation and travel wages by paying a certain fee to the school.
If you often travel to and from places outside colleges and universities, or want to go out to play on Sundays, you need to buy a monthly pass or an annual card, and you can discount it with your student ID card.
In addition, international students will not enjoy a series of preferential policies even if they do not apply for registration as published students, and basically do not have to worry about traffic conditions. Because the transportation cost in Germany is relatively cheap, it doesn't cost much.
cash deposit
The German Immigration Bureau has given the demand for financial guarantee for student visa applications in order to ensure that international students studying in Germany are not easy to fall into the predicament of economic development.
The German Immigration Bureau has given the demand for financial guarantee for student visa applications in order to ensure that international students studying in Germany are not easy to fall into the predicament of economic development. The current deposit requirement is 86 1 euro per month. International students can deposit this deposit into a special account, and after passing the exam, they will get a fixed living allowance from this account every month.