FAQ Finances

Financing your stay in Munich and Erding

Munich is, unfortunately, an expensive city to live and study in. Rent and foodstuffs are at the high end of the cost scale, so please plan accordingly. The German Foreign Office suggests that students plan a minimum sum of 600 Euro per month minimum to cover costs of living. Sometimes this amount is even required of students in advance to obtain a visa. Since Munich is the most expensive city in Germany, we highly recommend students plan on a higher sum and definitely not less than 600 Euro per month. Due to initial costs during the first phase of your stay, we advise all students to plan on a sum of at least 1000 Euro for the first month.

Standard Monthly Costs (Euro)

Rent: 300.00
absolute minimum for private housing:
Health Insurance: 55.00
standard monthly rate for students under 30:
Subway Pass: 26.00
two rings on the subway map; can be more if you live further outside the city center

Variable Monthly Costs

These depend on the student's level of luxury:
- Foodstuffs
- Clothing
- Telephone/Cell-Phone bills
- Free time activities, such as sports, movies, travel etc.

Semester Fees (Euro) (text missing)

Initial One-Time Costs

Housing Disposit
this varies depending on the apartment (Euro 200-1000) and is returned to you when you move out, assuming you have caused no damage during your stay

Furniture
depending on the type of apartment you choose, you may have to purchase furniture: bed, table, chairs, etc.

Telephone
both cell-phones and standard telephones require an installment fee

Miscellaneous
kitchen and bath utensils, for example

For banking information in English, please see the Deutsche Bank website at www.db.com