Financing medical studies abroad

The often high tuition fees, cost of living and other financial aspects mean that Medical studies abroad well thought-out planning. Students should therefore be well informed about the various options available for financing their studies. A student loan, BAföG abroad or a grant from a Scholarship are some of the most frequently used options.

What costs do you have to plan for studying medicine abroad?

Before you can think in detail about how you will finance your studies abroad, it is important to know exactly how much it will cost. Don't calculate too tightly here and be sure to plan a buffer for unforeseen expenses.

The main costs of studying abroad are made up of the following factors:

• Tuition fees
• Cost of living
• Study supplies such as books and equipment
• Rental costs for flat or hall of residence

Take a close look at all your study costs in advance, consider where you can make savings and then think about the amount you need. This will enable you to find more targeted ways to solve the problem of financing.

Tuition fees are often a major cost factor

In Germany, tuition fees are comparatively moderate, whereas abroad considerable amounts can be incurred for each semester of medical studies. The resulting financial burden that medical students have to factor in amounts to around 5,000 to 10,000 euros per semester, depending on the university.

The costs for futuredoctor

We realise that our placement fee is a lot of money for most medical students. As we want to create the best conditions for you to study abroad, we not only support you in obtaining a place to study human medicine or other medical degree programmes of your choice, but also during your studies. Feel free to speak to our advisors if you are worried about financing. We can certainly find a solution that is suitable for you and your studies.

In which country is it most favourable to study medicine?

In countries with a low cost of living, tuition fees are often lower, so you save on shopping and other everyday expenses as well as on the money you pay to the university.

For example, the semester fee at the University of Varna in Bulgaria "only" 4,500 euros. Compared to the fees at some universities in the UK, which can be three times as much, this is a real "bargain".

If you don't want to take out too large a loan and can't get your studies financed by your parents or other donors, Bulgaria, Romania and other low-income countries can be a good choice. Medical students at the universities here receive a similarly good education as in more expensive countries. Degrees from Romania can be recognised in Germany without any problems.

Financing your studies abroad - how you can afford a good education

Most students only have a very low income. It can therefore be a great challenge to finance your studies abroad. To help you find a way to do this, we will now introduce you to various financing options.

The education loan

The so-called educational or student loan is a good option that is by no means limited to German universities. Medical students can receive a fixed amount through such an educational loan. Depending on the type of loan, this can either be a one-off payment or a continuous payment during their studies. 

The first option is particularly suitable if you want to finance the tuition fees and placement fees for your studies abroad with the loan. Loans where you can withdraw a certain amount each month and only pay interest on the portion of the loan that you have actually used are suitable for everyday life.

Repayment of an education loan usually only begins when you are already firmly established in professional life. This allows you to complete your studies abroad in a relaxed manner and then dedicate yourself to repayment when you are probably back in Germany and earning well thanks to your medical degree.

BAföG abroad

Many prospective students cannot receive sufficient financial support from their parents. In such cases, BAföG is often a suitable option for financing your studies abroad. Even if you are not entitled to receive BAföG in Germany, it is worth checking your entitlement to BAföG abroad and the current regulations of the Federal Government.

Since studying medicine abroad incurs higher costs, you will have to deal with these additional expenses as a medical student. This means that you may be able to receive BAföG for studying abroad even if you would not be eligible for BAföG at home.

The reverse generation contract from CHANCEN eG

The aim of the solidarity organisation CHANCEN eG is to make education possible regardless of income. The cooperative helps to finance your medical studies in Germany and abroad by covering all or part of the costs.

As a medical student, you can concentrate on your studies and the course itself without being constantly plagued by money worries. The question of the type and amount of repayment only arises later, when you are already working. The principle of solidarity applies here: if you earn a lot, you pay back more than someone with a lower income. In this way, the community can then finance access to universities for the next generation of students.

Scholarships

In many cases, a scholarship can cover a significant part of the costs of studying abroad. One of the biggest advantages is that you usually don't have to pay anything back. However, the demand for scholarships is naturally high, which is why it is no easy task to obtain one. However, it is worth finding out about the various options and trying to apply to the organisations where you have a chance of receiving a scholarship.

There are numerous possible providers of scholarships:

• German state
• European Union
• University
• Private providers and foundations

Both a full scholarship and a grant within a clearly defined framework are possible. However, certain requirements must be met for both, such as a high level of social commitment or special achievements.