Financing Options for Studying in Spain
Students wishing to study in Spain, should be in time with the financing of this project deal. Finally, the cost of living and, in the case of free movers and full-time students in Spain, also tuition fees have to be paid. There are various financing options for studying in Spain, so that the dream of an adventure abroad does not have to fail due to a lack of financial resources.
Funding for a semester abroad in Spain
According to existingcountries, the following funding options are available for students who move to Spain for a semester abroad:
Probably the most popular financing option for a semester abroad for students from Germany is the Auslands-BAföG. Not only students who already receive domestic BAföG have opportunities for this state financial aid for the semester in Spain. Due to the higher assessment limits for BAföG abroad, it can also be granted to students who do not receive BAföG for their studies in Germany. If the application for BAföG abroad is granted, students can receive financial support to the following extent:
- A grant towards the tuition fees of the Spanish university of up to EUR 4600 for one academic year
- Basic monthly requirement of up to 735 (including surcharges for German health and long-term care insurance of EUR 86)
- Flat rate subsidies for travel costs of EUR 500 for trips to the Spanish mainland or EUR 1000 if the study destination is in the Canary Islands
- Financial contribution to the costs of private foreign health insurance
The office responsible for foreign BAföG for Spain is the office for educational grants of the Studentenwerk Heidelberg.
Another funding option for a semester abroad in Spain is scholarships. This also includes the Erasmus + scholarships from the DAAD. These support a stay abroad of three to twelve months in EU countries such as Spain and some other countries in Europe. As a rule, there are no tuition fees at the Spanish university and the students also receive monthly financial support between EUR 200 and EUR 450. Students are only eligible for the scholarship if there is a cooperation agreement between the home and host university.
Students who are already scholarship holders of German foundations or organizations promoting the gifted can, under certain circumstances, also hope for financial support for a semester in Spain.
Student loans and jobs
If it doesn’t work with BAföG or a scholarship, there are other funding options for a semester abroad in Spain. This includes classic student loans and, depending on the subject, loans through education funds. There are various providers for both student loans and education funds. Students who want to use this financing option should compare different offers in advance and find out about interest rates and repayment modalities.
Semester students are also allowed to work in Spain.
Financing options for a full degree in Spain
As for a semester abroad, there are also various financing options for a complete degree in Spain.
In contrast to a full degree in a non-European country, a complete degree in Spain can also be funded through BAföG abroad. However, the tuition fee subsidy is only available for one academic year, regardless of how long the study in Spain lasts. In order to receive BAföG abroad all the time, students have to apply for it anew every year.
There are various databases on the German side that students can search for grants for a study-related stay abroad in Spain. These include, for example, the DAAD scholarship database and the scholarship guide of the Federal Ministry of Education and Research. Overall, scholarships for a complete degree in Spain are rather rare, especially from the Spanish side.
Student loans and jobs
Student loans and education funds are a financing option not only for a semester abroad, but also for a complete degree in Spain. The latter are mainly aimed at students from certain departments. Students should only consider student loans or education funds as a way of financing their studies in Spain if they have no other options. Since studying in Spain usually takes several years, the loan amount quickly turns out to be very high. If you still want to use this financing option, you should compare different providers and find out about the interest rates and the repayment modalities of the loan.
International students also have the opportunity to supplement their finances with a job in Spain.