What will a year really cost?

From the country guide: tuition, living costs and the visa fee, plus the money you must show. The part you lose if the visa is refused is marked.

A year in Iceland

	In ISK as published	In EUR
Tuition, one year	ISK 100,000	EUR 734 Public university, international student
Living costs, twelve months	ISK 2,970,864	EUR 21,810
Visa or permit feeNot refunded if the visa is refused	ISK 70,000	EUR 514
First year, all in		EUR 23,060
Money you must show for the visa	ISK 3,119,412	EUR 22,900 Held in your account before you apply; most of it then pays your living costs

Work while you study

No weekly figure published

Stay after you graduate

18 months, Residence permit to seek employment after graduation (bachelor's, master's or doctoral degree from an Icelandic university)

If the exchange rate moves. Today 1 ISK = 0.00734 EUR (rate of 23 October 2026). A 10% move either way changes this first year by about EUR 2,310, and a whole three to four-year degree by roughly EUR 6,920 to EUR 9,220. Plan with a margin, and pay large sums when the rate suits you.

Worth knowing. Proof of funds is ISK 259,951 a month from 18 May 2026; the annual figure is our calculation for a one-year permit. visa_fee is the residence permit processing fee. Tuition is the University of Iceland registration fee; public universities may now charge non-EEA students tuition (law passed June 2026) but no amounts or start date are published. Work limit is 60% of full-time employment, not stated in hours. Post-study period cut from up to three years to up to 18 months on 8 July 2026. Living costs are Reykjavík’s minimum support level for one person, as the University of Iceland cites it.

The full Iceland guide, with every source →

Leaves out flights, deposits and insurance unless the guide includes them. Currency: Rates by Exchange Rate API, 23 October 2026.