Who is a Self-Funded (self-paying) Student?
All students not receiving a (full) Erasmus+ scholarship within the CDE programme are considered as self-funded. This includes everyone either funding their own studies (self-payment through savings or work), getting financial assistance from family or friends, beneficiaries of international scholarships or grants, taking out a student loan, employer sponsorship, etc.
Hint, consider to apply for a fee waiver! The programme can support up to 34 self-paying students with a fee waiver of participation costs.
Please note, in Austria, a third country’s student with admission to a university and staying for longer than 6 months needs to apply for a residence permit student. The following forms of proof of financial means are eligible as listed by the OeAD Checklist for a “Residence Permit Student – Student”.
Student residence permit – proof of sufficient financial means to cover the living costs [as of 2024]
You have to prove these funds in advance for the entire stay in Austria (Europe). The funds have to be in a (foreign) savings book or (foreign) bank account that must bear the applicant’s name and be accessible from Austria. Reference: link above from OeAD Austrian Agency for Education and Internationalisation.
You are obliged to ensure a valid health and accident insurance during your stay/study in Austria, without a valid insurance, you cannot get the visa/residence permit card; we recommend following insurance offers:
- National Health Insurance: Gesundheitskasse (ÖGK) Austria
- Get details for health insurance at the OeAD website …Third-country nationals will only get a residence title if they can additionally provide proof of having a “health insurance covering all risks”. Travel health insurance is only sufficient for the period until a “health insurance covering all risks” can be taken out after entry.
- Private Health Insurances
€ 600,00: accommodation (average costs at dormitory)
€ 300,00: food (basics)
€ 300,00: other
latest update: April 25, 2024