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What is the cost of living while studying for an MBA in Germany?

Germany is renowned across the world for several reasons—its engineering excellence, rich culture and history, and economic prowess and stability. In the last few years, the country has also been gathering renown as a top destination for academic degrees, primarily business programmes like MBA.

An MBA in Germany can open several doors for you in the business world. The programme trains you in different aspects of business management, hones your networking skills, and helps you expand your professional network in Germany and across the rest of the world.

Additionally, German business schools are known for maintaining stringent academic standards and providing immense exposure to the business landscape. Thus, as an MBA student in Germany, you can rest assured that your education can only enhance your business career prospects.

It is a common myth that acquiring an MBA in Germany can be quite pricey and out-of-reach for students from humble economic backgrounds. Let’s dive into the benefits of getting an MBA from a German business school and if the cost is worth it.

What are the prime benefits of pursuing an MBA in Germany?

As an MBA student in Germany, you can look forward to all sorts of rich and memorable experiences. Additionally, you reap more than what you sow in terms of career prospects and job opportunities.

Here are the most significant advantages of pursuing an MBA in Germany.

  1. Germany has several major business destinations like Berlin.
  2. The fees are considerably cheaper than in other European cities
  3. An MBA can pave the way for good managerial or entrepreneurial careers

What kind of financial arrangements do you need to do for an MBA in Germany?

Once you have sent in your college applications, you would need to arrange your finances to cover the cost of your MBA in Germany. Although the cost of studying in Germany as a post-graduate student is affordable, there might be additional charges such as convenience fees that are university specific.

Most universities display the tuition fee of the course along with the additional charges on their websites. You can also contact international student advisors from the university, for further clarity on the amount expected from you. There are many scholarships in Germany for which you could apply for financial assistance.

You also need to show proof that you have sufficient funds to sustain your living costs while you study in Germany. As per DAAD, the average cost of living expenses for international students can amount to around € 12,000 per year. These costs include rent for private or student accommodation in Berlin or other German cities, food, clothes, transport, internet, and telephone bills, study materials and textbooks, and leisure activities

Additionally, you might incur some more expenses for buying your health insurance. This is because international non-EU students in Germany aren’t covered by EU public health initiatives.

An MBA in Germany can be the first step towards your financial independence and a successful career in the business domain. Start looking for good business schools in Berlin or other German cities today!

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