Tuition Fees
At Reykjavik University, we believe in transparency and fairness in our tuition fee structure. Our fees are set every spring for the upcoming academic year. Good news for our students: once accepted, your tuition rate remains constant throughout your study period.
Tuition Fee Structure for 2024-2025
| Fee Description | EU/EEA Citizens | Non-EU/EEA Citizens |
|---|---|---|
| Per Semester Tuition Fee (ISK) | 630,000 ISK | 1,150,000 ISK |
| Approx. Per Semester Tuition (USD) | 4,615 USD | 8,424 USD |
| Approx. Per Semester Tuition (EUR) | 4,130 EUR | 7,539 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?
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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
| EU/EEA Citizens | Non-EU/EEA Citizens |
|---|---|
| USD 700 | USD 800 |
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 for their immigration fee with the funds to ensure the correct amount is provided to UTL and the student does not need 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.
Energy Field School
Energy Field School takes place each summer and the first-course students at the Iceland School of Energy's M.Sc. Programmes take part. The Energy Field School is also open to independent learners. The fee for Energy Field School is the same for EU/EEA and Non-EU/EEA citizens and is billed in United States Dollars (USD)
| Fee Description | Student | Non-Student |
|---|---|---|
| Programme Fee (ISK) | 475,000 ISK | 525,000 ISK |
| Approx. Programme Fee (USD) | 3,470 USD | 3,835 USD |
| Approx. Prorgamme Fee (EUR) | 3,190 EUR | 3,525 EUR |
- Student (Full-Time): Refers to individuals who are currently enrolled full-time in an undergraduate or graduate program.
- Non-Student: Encompasses individuals working in the industry or those who are fully employed and not enrolled in a full-time academic program.
| Confirmation Fee (Included as part of Program Fee) | Student | Non-Student |
|---|---|---|
| Confirmation Fee ISK | 70,000 ISK | 80,000 ISK |
| Approx. Fee (USD) | 510 USD | 585 USD |
| Approx. Fee (EUR) | 470 EUR | 537 EUR |
The cost of the field school program is listed above, which includes all necessary costs associated with field trips, teaching, and events. Please note that this cost does not include accommodations during your stay in Iceland. However, the overnight excursion is provided as part of an overnight field trip. It is suggested that participants budget 250,000 ISK for accommodation and living expenses while participating in the program.
Field School Fee for New ISE MSc Students
For students starting their master's studies at the Iceland School of Energy, the field school program fee is included in your tuition fees. There is no need to pay any additional fees. These students are automatically registered for the program.