The Icelandic Student Loan Fund offers student loans for tertiary education at institutions that make demands of the students comparable to those made regarding university studies in Iceland. Students may receive a loan for a total of up to 5 years, subject to satisfactory progress. Students progressing to Postgraduate studies may be granted loans for a duration in excess of this up to a maximum of 10 years in total. Loans can be obtained for living expenses and tuition fees.
Courses of study qualify for loans if they are organised by an educational institution as full-time studies; 60 ECTS units of study in each academic year or at least 30 ECTS units each semester in cases where the course structure does not cover a complete academic year.