The University does not offer any scholarships for international students. Grants and funds are only available for students already registered at the University.
Every year, Icelandic authorities offer approximately 15 state grants to students who have completed at least one year of university studies and are pursuing a BA in Icelandic as a Second Language. To be accepted in the programme you need to have good prior knowledge of Icelandic language.
Useful links
Scholarship for students learning Icelandic as a Second Language