Finances
Semester Fee
At OVGU, the semester fee is €278.90 (as of December 2024) and includes:
- €90.00 for the Student Services (Studentenwerk) contribution
- €176.40 for the Germany Semester Ticket (Deutschlandsemesterticket)
- €12.50 for the Student Council (StuRa) fee
For more details, check here.
Are there tuition fees at OVGU?
No, OVGU does not charge tuition fees.
Additional fees apply only for a second degree.
Proof of financial support
International students must demonstrate that they can finance their studies. Options include:
- Proof of income and assets from parents
- A financial guarantee from someone residing in Germany
- A blocked bank account with the required security deposit
- A bank guarantee
- A scholarship
Note: Verify with the German Embassy in your country which proof is mandatory!
Blocked bank account
The most common option is a blocked account with a registered German bank.
The standard annual required amount that must be paid into the blocked account when applying for a visa is €11,904 (as of November 2024). The amount is blocked until you enter Germany. Only a sum of €992 can be withdrawn each month.
Do I need a blocked bank account?
- Not required for EU or Schengen citizens.
When should I open a blocked account?
Processing takes 1–6 weeks. You will need the bank's confirmation to apply for your visa.
Where can I open a blocked account?
Authorized providers include:
Local German banks offering blocked accounts:
Steps to Open an Account:
- Application
- Timeframe: ~1 week with online providers
- Documents (originals may be required!):
- Completed forms
- Copy of passports (possibly notarized!)
- university admission letter
- Setup
- ~€50–150 for account setup.
- Transfer the annual deposit (€11,904).
- After arrival in Germany:
- Schedule an appointment with the bank.
- EC card + online banking access will be issued (by post or at the bank)
Need more information? Explore this guide.
German bank account
A German bank account is essential for your everyday life in Germany - whether it's rent, semester fees or salary from a part-time job. Most banks offer students free accounts. Compare the offers and make sure that it is a national bank or direct bank. This will give you flexibility if you move to another city for a language course or internship.
Documents required:
- Passport or ID
- Student ID, enrollment certificate, or admission letter
- Registration certificate from the citizens' office (BürgerBüro) or the foreigners' office
Note: Some banks only open accounts for stays of more than six months.
BAföG Application
Eligible students can apply for BAföG financial aid for their studies. The Studentenwerk Magdeburg provides support with the application process.
Scholarships
Secure Financial Support for Your Studies! Scholarships aren’t just for students with outstanding achievements—they’re available for a wide range of qualifications and backgrounds. Find the perfect scholarship to enjoy more financial freedom and gain access to exclusive networks. Get informed and apply now!