Cost in Iceland
6 Institutions·10 ProgramsKey Takeaways
- Average annual tuition: Free
- Monthly living expenses: ≈ $2,326 per month (housing $2,190 + groceries $47 + transport $89, verified figures)
- Health insurance: €100 per month (≈ €1,200 per year premium)
- Visa proof of funds: €1,000 per month (approximate visa requirement)
- Utilities (monthly average in Reykjavík): 13,000 ISK per month (~$110)
- Student visa application fee: ISK 16,000 (≈ £91)
- Global scholarship for UC students: Up to $2,000
Tuition and Scholarships
Public universities in Iceland charge no tuition for degree programs. You will usually pay an annual registration fee instead. International students are eligible for national scholarships, including an Icelandic Government Scholarship and university-level awards. Example: UC students can apply for a Global Scholarship up to $2,000. Check each university for the exact registration fee amount and scholarship deadlines.
Verified Monthly Cost Tables
Below are the verified cost figures you must budget. These come from the provided monthly estimates. Use them as primary reference points and compare with local figures after you accept an offer.
Housing (monthly)
Item | Price |
|---|---|
1-bedroom (1BR) + utilities + internet | $2190 |
Markets (food Prices)
Item | Price |
|---|---|
Groceries (cooking at home, monthly) | $47 |
Transportation (monthly)
Item | Price |
|---|---|
Public transport (monthly pass) | $89 |
Sports & Leisure
Item | Price |
|---|---|
No verified data available | N/A |
Note on differences: local Reykjavik figures show a 1-bedroom rent around 200,000 ISK (~$1,650) and a monthly transport pass near 13,000 ISK (~$110). The verified totals above remain the required reference.
Other Mandatory Costs and Visa Requirements
You must show financial proof for a residence permit. The required proof of funds is about €1,000 per month. Health insurance is required for the permit and has a premium around €1,200 per year (≈ €100 per month). Required documents for the residence permit:
- Proof of enrollment from your university
- Valid passport
- Proof of financial support (≈ €1,000/month)
- Criminal background check
- Evidence of health insurance (premium ≈ €1,200/year)
Other direct costs to budget:
- Student visa application fee: ISK 16,000 (≈ £91)
- Utilities: about 13,000 ISK/month (~$110)
- One-bedroom rent local estimate: 200,000 ISK/month (~$1,650)
You must apply for a Kennitala (Icelandic ID) after arrival. The academic year runs September to May, with main application deadlines in January–March for fall intake and July 1 for autumn course offers.
How to Budget and Steps after Arrival
Start with a monthly budget using verified figures. A simple baseline uses the verified totals: housing $2,190 + groceries $47 + transport $89 = $2,326 per month. Add utilities and personal costs if you use local estimates.
Practical steps:
- Calculate funds you need for the first 3 months, including first rent payment and registration fees.
- Secure health insurance that covers the residence permit (plan for ≈ €1,200/year).
- Arrange accommodation before arrival or book temporary housing for 2–4 weeks.
- Apply for a Kennitala immediately; many services require it.
- Check scholarship deadlines and apply early (example: Global Scholarship up to $2,000).
Ways to reduce costs:
- Share apartments to lower rent
- Cook at home (verified groceries $47 per month)
- Buy student transport passes or local discounts (compare $89 verified vs 13,000 ISK local)
Frequently asked questions
How much does it cost to study in Iceland?
Public university tuition is free; you pay an annual registration fee. Expect verified monthly living costs of about $2,326 (housing $2,190 + groceries $47 + transport $89). Also budget for health insurance (€1,200/year) and initial visa fees.
What proof of funds do I need for a student residence permit in Iceland?
You typically need to show about €1,000 per month in available funds. You also must provide proof of enrollment, a valid passport, a criminal background check, and health insurance.
How much is health insurance for students in Iceland?
Health insurance premiums are around €1,200 per year, which equals roughly €100 per month. You must have coverage for the residence permit application.
Are there scholarships for international students in Iceland?
Yes. An Icelandic Government Scholarship is available and some universities offer grants. Example: UC students can apply for a Global Scholarship up to $2,000.
What other monthly costs should I expect?
Local estimates list rent for a one-bedroom in Reykjavík at about 200,000 ISK per month (~$1,650) and utilities near 13,000 ISK (~$110). Verify costs with your city and university before you move.
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