Tips on financing your studies in Norway
The majority of state universities and colleges in Norway are publicly funded and therefore are free of charge. This rule works also for the foreign students from all over the world who are eager to study and do researches in Norway. However, there exist some necessary extra expenses that may arise surprisingly. Moreover, one should pay attention to the fact that the prices level in Norway is higher than in other European countries, so he should plan his budged carefully.
Documentation of financing required in Norway
To start studies in Norway self-financing applicants must prove that they have financial means to cover living expenses during their stay in Norway. This currently amounts to NOK 100.920 for the academic year 2015/2016 (10 months). Applicants who are not EU/EEA citizens must enclose proof of sufficient financing NOK 100.920 (approx. 11 000 EUR as of September 2015) together with their application to the university. Applicants who cannot submit such documentation will not be considered for admission, regardless of academic qualifications.
Norwegian valid forms of documentation
Norwegian valid forms of financing documentation include:
- Financing provided by applicant: Enclose a recent bank statement in your name showing possession of the required amount (NOK 100.920).
- Financing provided by sponsor: Sponsor guarantee letter and sponsor’s recent official bank statement/transcript.
Residence permit in Norway
Residence permit in Norway can be obtained on the following conditions:
- Once admitted, the student/sponsor must transfer money into the student deposit account established by the Student Welfare Organisation (SiB). The SiB Student deposit account is set up to assist prospective students in documenting that they have the financial means to cover living expenses in Norway.
- After the student/sponsor has successfully transferred the required amount (NOK 100.920) into the SIB Student deposit account, the student will receive a written confirmation that must be enclosed with the application for residence permit. Please note that as soon as you have opened a Norwegian bank account, the money will be transferred to your account.
For more information visit the official website for foreign students in Norway: http://www.udi.no/en/want-to-apply/studies/