Grants and funding

The European Union's Erasmus+ education program is intended to promote cooperation between European universities, to strengthen Europe as a knowledge society and to support the development of a pan-European, modern-day university community. Erasmus+ gives students of European universities a unique opportunity to gain international experience during their studies and to position themselves strategically in the labour market. Additionally, the new program promotes equal opportunities for study abroad with special supplementary grants to meet students with special needs.

Because of Brexit students should not expect their exchange to the UK to be funded through Erasmus+ in the academic year 2021-2022. If it will be possible to support students with Erasmus+ funds then it will likely only be for the autumn semester.  

There are two types of grants that students can apply for:

• An Erasmus+ exchange program at one of the University of Iceland’s partner universities, where students take courses that will then be evaluated for ECTS credits at home. Students applying for an Erasmus+ grant for exchange programs receive a subsistence grant and a one-off travel allowance. The subsistence grant for longer stays is 490€ or 540€ a month. For  shorter stays (1-14 days) the grant is 70€ a day and from the 15th day onwards the grant is 50€ a day. The travel grants are from 275-1500€ depending on the destination. It is possible to apply for an additional travel grant to the International Division if the travel grant is not sufficient for 70% of the travel costs, based on the most efficient mode of travel. If the participant demonstrates that the main mode of travel has been environmentally friendly (based on the number of kilometers), an additional grant of between 30-80€ is provided.

Students may apply for an Erasmus + supplementary grant for disability or illness

• An Erasmus+ traineeships involve undertaking a particular project at an enterprise or institution that is related to the student’s studies. Students applying for an Erasmus+ traineeship grant receive a subsistence grant and a one-off travel allowance. Grant sums are determined by destination, but travel grants are between EUR 275-820 and subsistence grants are between EUR 640-690 a month.

Students may apply for an Erasmus+ supplementary grant for disability or illness

Students of the University of Iceland who apply for Erasmus+ exchange studies or traineeships are eligible to apply for an Erasmus+ supplementary grant for disability or illness.

Example of costs that may be covered with a disability grant:

• Personal assistant(s)’s salary

• Personal assistant(s)’s travel expenses

• Special housing to meet the student's needs

• Additional travel costs

• Shipping costs for special equipment

Further information

Nordplus is the education program of the Nordic Council of Ministers. The objective of the program is to promote and develop Nordic co-operation in education in the Nordic and Baltic countries, support Nordic languages ​​and culture and promote common cultural understanding between these countries.

Nordplus emphasizes that three or more universities collaborate in a particular field of study, creating a professional and academic network. The University of Iceland participates in a multitude of such networks as well as the interdisciplinary network Nordlys, which is especially useful to students who are unable to apply for funding from other networks.

The Nordplus exchange studies grant consists of a travel grant of up to 660€ and a subsistence grant of up to 200€ per month. Students can also apply for short-term stays, at least 5 days, receiving max 70€ per week. Students find the courses they are interested in and can apply for the grant to the relevant Nordplus Network. Doctorate students can not apply for Nordplus funding.

The International Office manages the Nordlys network for the university and students can apply for mobility grants from the office. Students can apply for both long-term and short-term mobility grants, from five days. Students have to find suitable courses offered by one of the Nordlys partner universities. The course must be credit-bearing and be approved by the student’s UI faculty. They can be summer courses or intensive courses and students can also take courses at UNIS in Svalbard. Students can contact the International Office for further information.

Students can apply for a supplementary grant for additional costs due to disability or illness. The application should should be sent to EDUFI (Finnish National Agency for Education).

Grants for exchange programs outside Europe are offered only in certain cases. Staff members of the International Division provide information on such grants as applies.

Watanabe-grants
These are grants to students and teachers who wish to pursue part of their studies or research projects in Iceland or Japan. The purpose of the fund is to provide grants for studies, teacher exchange and/or research in these countries. The grants are available to both students in undergraduate and postgraduate studies. The fund also provides travel and subsistence allowances for post-doctorates, teachers and scholars.

• Grants are awarded annually

Further information 

Grants for exchange studies at the University of Minnesota
Students applying for exchange studies at the University of Minnesota can apply for a grant covering tuition fees and residence expenses. Those who have completed a degree from the University of Iceland and pursue a full graduate degree at Minnesota University are also eligible. Applicants must be Icelandic citizens.

The Val Björnson Fund has supported Icelandic students to study in Minnesota for decades.
 

Study grants at the Danish School of Education, Aarhus University
The Associate Professor Ragna Lorentzen Foundation awards study grants to Icelandic students applying or enrolled as BSc, MA, MSc or exchange students at the Danish School of Education. While grants are primarily awarded to students following a bachelor’s or master’s degree programme, PhD students, including visiting PhD students, are also invited to apply for financial support.
Grant recipients must have limited financial resources.

Further information