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Cheapest Universities in Iceland

1. University of Iceland

Founded in 1911, the University of Iceland is the country’s oldest and largest institute of higher education. Previously a servants’ school, the Reykjavik-based university is now home to 8,309 students – 12% of which come from various nations across the globe.The university is categorized into 5 schools, with each overseeing a total of 25 faculties. These are the Schools of Social Science, Health Science, Humanities, Education, and Engineering & Natural Science.

The University of Iceland is ranked as the 2nd best institution in the country after Reykjavik University. With a tuition fee of around $700 a year, the University of Iceland is the cheapest university in Iceland for international students.

2. University of Akureyri

Based in northeastern Iceland, the University of Akureyri is known as the largest provider of distance education in the region. Founded in 1987, it works in conjunction with various universities to deliver certain programs.

At the University of Akureyri, foreign students may choose from a variety of bachelor’s programs in the Social Sciences, Education, Law, Occupational Therapy, Nursing, Business Administration, and Natural Resource Science. It also offers graduate degrees in Law, Education, and Natural Resource Studies.

3. Agricultural University of Iceland

The Agricultural University of Iceland, another cheap university in Iceland, is a NOVA-network-affiliated public university. It is one of Iceland’s youngest institutions, having been only opened in the year 2005.

Despite being new to the scene, AUI specializes in fields that most universities do not have. These include the undergraduate studies of Agriculture, Equine Science, Natural & Environmental Science, Forest Science, and Landscape Architecture.

AUI offers Masters’s degrees in Planning and Environmental Changes as well.

4. Hólar University College

Next on our list of affordable universities in Iceland is Hólar University College. It is one of the oldest schools in Europe, having been founded as a cathedral school in the year 1106. It was eventually renamed Hólar Agricultural College before it took its current moniker in the year 2007.

Located in a small district in Northern Iceland, the Hólar University College offers 3 paths of learning: Aquaculture & Fish Biology, Equine Studies, and Tourism Studies.

The university also conducts research in these unique fields. As of current, it is home to sophisticated centers such as Biodiversity Lab and Aquaculture Lab. It also dabbles in the fields of horse breeding, training, and riding.

5. Iceland University of the Arts

The Iceland University of the Arts is a Reykjavik-based institution that specializes in art-related programs. The private university, which resulted from a merger between the Reykjavik Arts School and Iceland Drama School, first opened its doors in the year 1998.

Here, foreign and local students – with a total enrollment of less than 500 – can specialize in the fields of Design, Art Education, Music, Fine Arts, Dance, and Theater.

6. Bifröst University

Founded in 1918, Bifröst University in Norðurárdalur started as the Cooperative College business school. Formerly based in Reykjavik, the private institution has evolved into a haven for local and foreign students who wish to study Business, Economics, Politics, or the Icelandic Language and Culture.

This cheap university in Iceland has a small student population, with only about 700 students enrolled in its graduate and undergraduate studies.

7. Reykjavik University

Reykjavik University, one of the cheap universities in Iceland for international students, holds the distinction of being the largest private university in the country. Founded in 1998, it is home to 2,501 students – 9% of which come from international backgrounds.

Despite being a relatively young institution, Reykjavik University is considered the best school in Iceland. It is also ranked 59th in the list of the best young universities in the world.

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