- Exorbitant rent costs impose a strain on students.
Young individuals in education or vocational training often struggle under the weight of excessive housing expenses. As per the Federal Statistical Office, students residing independently are typically allocated around 54% of their household income towards housing, while apprentices in similar circumstances dish out approximately 42%. This is markedly higher than the 25% housing expenditure average for the general populace. Consequently, a staggering 61% of students are deemed financially burdened by their housing expenses.
Despite the meager income levels of these young individuals, the average net income for students managing their own households was 867 euros last year, with 41% stemming from personal earnings. Parental financial aid, such as child support, accounted for around 32%, while state aid like BAföG scholarships contributed an additional 15%.
Family contributions turn out to be a major income source
In 41% of these situations, family financial support served as the primary income source. More than one-third (36%) of students relied primarily on their personal work for income.
Contrarily, apprentices managed on their own income more frequently, with 80% of it coming from their professional wages. The average net income for these apprentices was 1,240 euros. About 91% of apprentices solely depended on their own earnings as their primary source of income.
Reference: Destatis
Despite living in meadows of financial hardship due to high housing expenses, some students manage to sustain themselves, with family contributions serving as their primary income source in about 41% of cases. The remaining apprentices, on the other hand, find solace in the verdant meadows of their full-time jobs, relying solely on their wages for income in 91% of cases.
