Tuition Fees

At RU, we value transparency and fairness in our tuition fee structure. Once accepted, your tuition rate will remain fixed throughout your entire study period.

Tuition Fee Structure for 2024-2025 

Fee DescriptionEU/EEA Citizens  Non-EU/EEA Citizens
Per Semester Tuition Fee (ISK)630,000 ISK1,150,000 ISK
Approx. Per Semester Tuition (USD)4,615 USD8,424 USD 
Approx. Per Semester Tuition (EUR)4,130 EUR7,539 EUR

*All tuition fees are billed in Icelandic Krona (ISK). The approximate amounts in USD and EURO are for reference purposes only and may vary due to exchange rate fluctuations. Rates taken August 23, 2024

Why Are Tuition Fees Different?

  • EU/EEA Citizens: A lower tuition fee is applicable, as Reykjavik University receives government funding for these students.
  • Non-EU/EEA Citizens: A higher fee is charged due to the absence of government funding for these students. However, exceptions exist for students with certain residence permits.

How are tuition fees billed?

  • Tuition Duration: Tuition fees are billed per semester for full-time M.Sc. programs, which typically span four semesters (24 months).
  • Billing Schedule: Fees are billed at the beginning of each autumn and spring semester.

Scholarships

  • Scholarship Distribution: If awarded, scholarships are split into four equal installments and deducted from the tuition fees. Students must meet the scholarship requirements each semester to maintain eligibility.
  • Full Scholarships: The Iceland School of Energy does not provide full scholarships. Partial scholarships are available and are awarded with the acceptance into the program.

Does the Iceland School of Energy provide full scholarships?

  • The Iceland School of Energy does not provide full scholarships. However, partial scholarships are available and are awarded after acceptance into the program.

Important Note for International Students

  • Student Loans: International students are not eligible for Icelandic student loans. However, students may seek to obtain student loans in their home country. It is important to secure financial resources before arriving.

  • Payment Plans: Students can arrange payment plans for tuition, which must be fully paid by the end of each semester.

Confirmation Payment

Confirmation Payment Student Residence Permit Fee
 65,000 ISK 16,000 ISK

What does the Confirmation Payment cover?

  • The confirmation payment secures a prospective student's spot in the programme after they have been accepted. Students can choose to have the university pay the student residence permit fee by including an additional 16,000 ISK to the confirmation fee. This helps the student by not requiring them to pay an additional fee to transfer money (non-EU/EEA citizens). All remaining funds are placed towards the student's first tuition payment.

What happens to the payment if a student no longer wishes to attend the Iceland School of Energy?

  • An accepted student who has paid the confirmation payment and no longer wishes to attend the Iceland School of Energy has two options. 
  • 1) The payee can differ in their acceptance one year, and the confirmation payment is used for the following year. 
  • 2) The payee can formally renounce their spot in the Iceland School of Energy.
  • In both cases, the confirmation fee is non-refundable. 

  

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