University studies in Iceland
Studies in Icelandic universities is eligible for maintenance support, child support and tuition fees if it is organised as a full course of study in the curriculum of the school. A full course of study is defined as 30 ECTS-units each semester or 60 ECTS-units for each school year or its equivalent.
A tuition fee loan alone may be granted for studies which are not organised as a full course of study that is at least 45 ECTS-units each school year. In that case, the loan is only granted for tuition fees but not for maintenance, child support or a travel loan. This applies for example to a 90 ECTS-unit course of study which is organised over two years.
Vocational studies and additional studies at Icelandic upper secondary schools
Vocational studies (trade school) and additional studies at Icelandic upper secondary schools are eligible for a loan. The requirement is that the course has received the verification of the Minister according to Act no. 92/2008 and also fulfils the following requirements:
The course of study has been approved by the appropriate professional council, if appropriate.
The end of the course is at least at the third level of competence.
Comparable courses of study are not generally on offer at university level in Iceland.
General studies at an upper secondary school towards a matriculation examination or equivalent are not eligible for loans.
The wages of apprentices are treated as other income according to the regulations of the Fund and they may cause a reduction in a student loan if the accrued income is above the general income threshold.
University studies abroad
Studies at internationally recognised universities abroad are eligible for a loan with the same conditions as apply for university studies in Iceland. Normally, the same entrance requirements for students in Iceland apply to university studies abroad (matriculation examination or equivalent).
Preparatory studies abroad
Preparatory studies equivalent to 60 standardised secondary school course units are eligible for a loan if they fulfil the requirement that the school offering the studies is verified by the educational authorities of the country.
Vocational studies and additional studies at upper secondary schools abroad
Vocational studies and additional studies abroad are eligible for a loan if they are comparable to vocational and additional studies in Iceland which are eligible, i.e. that the end of studies is at the 3. level of competence and to that comparable studies are generally not offered at university level in Iceland. The school and the course of studies must be verified by the educational authorities of the country in question.