Tuition Fees

The fees listed below are for the upcoming academic year, 2024-2025. As exchange rates can vary, the fees are listed in Icelandic Krona (ISK) and rounded in approximate United States Dollars (USD) as of May 1, 2023

Full-Time M.Sc. Programmes

  • EU/EEA Citizens - ISK 2,376,000 - (Approx. - USD 17,500)
  • Non-EU/EEA Citizens - ISK 4,376,000 - (Approx. - USD 32,000)

Why is the tuition fee for an EU/EEA citizen lower than a non-EU/EEA citizen?

  • For students with citizenship outside the EEA countries, an extra payment fee is charged as Reykjavik University does not receive funding from the Government for these students. However, an exemption is made for those students with a special basis for a residence permit.

How are tuition fees billed?

  • Tuition fees listed for full-time M.Sc. Programmes cover the entire 24-month duration of the programmes and are split into four equal instalments. Instalments are billed each year at the beginning of the autumn and spring semesters. If a student is awarded a scholarship, the scholarship is split into four equal instalments and deducted from the tuition fees. 

Does the Iceland School of Energy provide full scholarships?

  • The Iceland School of Energy does not provide full scholarships. Partial scholarships are available and awarded to students after they have been formally accepted into the programme and have paid their confirmation fee.

Confirmation Payment

 EU/EEA Citizens
Non-EU/EEA Citizens

Paid before December 31st, 2023

 USD 500 USD 650
 Paid after December 31st, 2023 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).

  • EU/EEA and Non-EU/EEA Citizens - USD 4,800

What does the tuition fee of Energy Field School cover?

  • The tuition fee for Energy Field School covers events, food, transportation, and accommodation associated with field trips. Students are required to pay for accommodation, food, and transportation outside of field trips. 

Do accepted students who are beginning their M.Sc. Programmes have to pay separately for Energy Field School?

  • Accepted students in the M.Sc. Programmes do not need to pay separately for the Energy Field School. It is covered in the cost of their tuition.

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