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Cost of Studying in Iceland 2019: Tuition Fee, Cost of Living, Medical, and Visa Fee

Filed in Articles, Study Abroad by on October 9, 2019

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Cost of Studying in Iceland – Education in Iceland is incredibly important. In a 2016 study, Iceland was ranked the third most literate nation in the world, trailing behind Finland and Norway. The small island country is home to a population of around 332,000 people.

Iceland is well known for being progressive. Its equality endeavors are evident in the structure of its education system.

According to the nation’s website, “A fundamental principle of the Icelandic educational system is that everyone should have equal opportunities to acquire an education, irrespective of sex, economic status, residential location, religion, possible handicap, and cultural or social background.”

Education in Iceland is a Four-Level System

Cost of Studying in Iceland: Tuition Fees, Cost of Living, Visa Fee and Medical Fee

Preschool is the first level of education, in which children attend between one and six years of age. There are fees for preschool, but they are largely subsidized.

Compulsory education follows preschool education. Compulsory education is free and mandatory for children between the ages of six and 16. Unlike in the United States, homeschooling is not an option.

Upper secondary education is the third level. It is available to anyone who has completed compulsory education and is mostly compromised of students 16 to 20 years of age.

The upper secondary level is essentially the equivalent of high school in the United States and is free with the exception of one private school.


The fourth tier is education at a university, otherwise known as higher education. To apply for university, a student must first have completed upper secondary education.

For the most part, universities in Iceland are required to accept all students with an upper secondary degree. Public universities in Iceland are tuition-free; the only costs associated with higher education are registration fees.

Cost of Tuition Fee in Iceland

Iceland uses the Icelandic Króna (ISK) as its currency.

Your tuition fees will depend on whether you study at a public or private university. If you choose to study at a public institution, you will not be required to pay tuition fees no matter where in the world you are from. You will need to pay an annual registration fee of around ISK 75,000.

If you are not an EEA student you will also have to pay an application fee, which is around ISK 8,000. If you choose to study at a private institution you will have to pay a tuition fee. Depending on your institution of choice, course, and nationality, this tuition fee can be anything from ISK 540,000 to ISK 2,000,000 per year.

There are scholarships and grants available to international students, but they can be competitive and are usually merit-based. For information about funding assistance, contact your chosen institution.

Cost of Transportation Fee in Iceland

Iceland has increasingly become a more popular tourist destination thanks to its incredible landscape and cheap flights from Europe and North America.

While the country is expensive, Iceland is the kind of beautiful that makes it worth the cost of visiting, and there’s so much that you can see and do even if you only have 48 hours or in my case, 10 days.

Whether you have a particular destination in mind or would just like to experience Reykjavík city like a local, using the local public transport service makes for an economical and interesting experience.

When it comes to public transportation (called Strætó in Icelandic) Reykjavík has an excellent bus system with regular services to and from all the city’s major towns and attractions.


Cost of Visa in Iceland

Study visas in Iceland are generally a hassle-free affair. Students outside the EU/EEA will need to apply for a residence permit before arriving in Iceland which can be done by contacting the Directorate of Immigration in Iceland or by notifying the nearest Icelandic embassy.

On the other hand, EU/EEA students who wish to study in Iceland will not need a visa. However, if they are planning to stay for longer than three months, they are required to list their legal residence at Registers Iceland (which is the civic registry of Iceland) once they arrive in the country.

All students, regardless of country of origin, must apply for a Kennitala – an Icelandic ID/social security number – which is used for everyday matters, such as opening a bank account.

A Proof of Financial Support (i.e Bank statements) amounting to ISK 180, 550/ EUR 1,434 is required.

Cost of Medical Insurance in Iceland

Another cost that international students need to consider is health insurance. If you are from an EU/EEA country and hold an EHIC card, you will be able to access the same healthcare as Icelandic citizens,at the same price.

If you are from any other country, you need to ensure you have valid health insurance for the duration of your stay in Iceland. You should either purchase a health insurance policy that is valid in Iceland, or check that your current policy will cover you whilst you are in Iceland. If you need to purchase health insurance and require guidance, contact your institution.

When preparing to study abroad, it is of the utmost importance to understand the nature and structure of the health care landscape in the country you will be calling home for a number of years.

For international students studying abroad in Iceland, the quality of care in question is not of any concern in fact, Iceland is home to one of the most highly regarded healthcare systems in the world. Coordinated through a series of general practitioners, the Icelandic health care system is wholly public.

As an international student planning on studying abroad in Iceland, you must as per Iceland visa insurance requirements, purchase health insurance coverage of at least 2,000,000 ISK that will remain valid throughout the duration of residence.

This insurance will allow the policyholder to have the costs associated with receiving medical treatment either reduced or diminished in total, as well as giving the opportunity for reimbursement through an international student’s home country.

CSN Team.

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