Date of publication: 2017
Fees - first cycle (euro): most common/min 509 - max 6042
Fees - second cycle (euro): most common/min 509 - max 6042
Fees - note: All students pay fixed fees
Grants - note: No public grants
Need-based grant (euro): -
Merit-based grant (euro): -
National student feeAll students at public higher education institutions pay administrative registration fee of ISK 75 000 per academic
year regardless of the study programme. Over 80 % of students at 1st and 2nd cycle study at public higher
The same rules apply to international students.
Student grantsIn principle no public grants/scholarships are available. However, some merit-based grants are provided by
universities and by the Icelandic Research Fund for Graduate Students for the 2nd cycle students.
LoansLoans are provided to full-time students by the Icelandic Student Loan Fund for short, 1st and 2nd cycle
programmes. The amount depends heavily on student's family and personal circumstances, including income. The
basic individual support for academic year 2015/16 is ISK 165 717/month or ISK 24.858 for each completed ECTS
unit. Around 50 % of students take out a student loan. The same support is available for 1st and 2nd cycle
Loans may be awarded to full-time students who participate in further programmes with 60 ECTS units of study in
each academic year or at least 30 ECTS units each semester. Loans may also be granted to cover tuition fees for
courses (not including maintenance) that are organised differently. Loans are not granted for preparatory courses,
doctoral programmes or professional development programmes.
The loan is indexed and has a fixed interest rate of 1 %. Repayment begins two years after graduation. Graduation
is defined when the student ceases to receive loans from the Student Loan Fund, unless he demonstrates that he
will continue to qualify for loans in the next school year thereafter. Refund will stand over until the debt is paid or
the borrower has passed away.
The board of the Fund may grant exemption from the annual repayment, in full or in part, if the pursuit of studies
that qualify for a loan, illness, unemployment and/or unfitness for work due to illness, disability, pregnancy, the
care of children, the care of a spouse or other comparable circumstances cause the recipient substantial financial
Tax benefit for student's parentsThere are also no tax benefits for parents and no family allowances.
Family allowancesThere are also no tax benefits for parents and no family allowances.