Finances
Semester Fee
At OVGU, the semester fee is €329.30 (as of August 2026) and includes:
- €90.00 for the Student Services (Studentenwerk) contribution
- €226.80 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 way to prove that you have sufficient financial resources for your visa application is by opening a blocked account with a registered German bank.
To apply for a visa, you must deposit the legally required amount into your blocked account. As of August 2026, the required amount is €11,904. The funds remain blocked until you arrive in Germany. After your arrival, you may withdraw a maximum of €992 per month.
Please note that the deposited amount of €11,904 is sufficient to cover your living expenses for one academic year only. If your studies last longer than one year (e.g., the second year of a master's program or the second and third years of a bachelor's program), you must ensure that you have sufficient financial resources for the remaining period of your studies. We strongly recommend planning the financing of your entire degree program in advance. Do not rely solely on a part-time student job to cover your living expenses, as such income is not guaranteed and is often insufficient to meet all living costs.
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:
More information can be found on My German University
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)
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!