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Nordplus is the Nordic Council of Ministers. The goal of the program is to strengthen and develop cooperation in higher education in the Nordic and Baltic countries, promote Nordic languages and culture and develop common cultural understanding between the countries. 

Within Nordplus there is a focus on subject networks where more than three universities collaborate within a certain field of study and the University of Iceland is a participant in many and diverse subject networks. In addition, the University of Iceland participates in multidisciplinary network Nordlys that benefits mostly students who do not have the opportunity to apply for grants from a subject network.

Nordplus exchange grant consists of a travel grant max. € 660 and a monthly subsistence grant max. € 250. Students can also apply for shorter visits, lasting at least 5 days, in which case the subsistence grant is 70 € per week. Doctoral students can not apply for Nordplus grants.

When a Nordplus application for exchange studies is filled in the applicant is automatically applying for the corresponding Nordplus grant as well.

The general application deadline is February 1 (or the next business day if the application is on a public holiday). Applications for traineeships and shorter studies can be submitted outside of the general deadline.