Tuition Fees and Scholarships

Tuition fees

According to the Finnish Parliament decision, Finnish universities charge tuition fees from non-EU/EEA students. At the University of Vaasa tuition fees vary from 10,000 to 12,000 euros per academic year, and are billed to degree students in international Master’s degree programmes.

Tuition fees per academic year are:

Master's Degree Programme in Finance

12 000 €

Master's Degree Programme in International Business

12 000 €

Master's Programme in Strategic Business Development

12 000 €

Master’s Programme in Industrial Management

10 000 €

Master's Programme in Smart Energy

10 000 €

Master's Programme in Industrial Systems Analytics

10 000 €


You do not have to pay tuition fee if you:

  • are EU/EEA citizen
  • are equivalent to EU/EEA citizen (i.e. citizen of Switzerland)
  • are residing in Finland on a permanent basis
  • have an EU Blue Card

For further information, please see - Am I required to pay tuition fees?

Students are required to pay tuition fees unless they meet the criteria mentioned above and provide documentation of it. It is the student's responsibility to provide the university with the necessary documentation.

The fees are not applicable to exchange or doctoral students.


The University of Vaasa offers a generous scholarship programme for students who are subject to tuition fees. Scholarships are applied for by choosing the scholarship option in the application form to the programme. Students are informed about possible scholarships together with the admission results.

First year scholarship - The University of Vaasa global student scholarship

Each Master’s programme will provide one 100% tuition fee waiver to the best ranked tuition fee subjected student based on the previous academic merits reviewed during application process.

Each Master’s programme will also provide five 50% tuition fee waivers to the second, third, fourth, fifth and sixth best ranked tuition fee subjected students based on the previous academic merits reviewed during application process.

All first year scholarships include a conditional 50% scholarship for the second year (see below).

Scholarships are personal and linked to the acceptance of the offered study place. They do not transfer to other universities. 

Second year scholarship - The University of Vaasa global student award for academic excellence

Every student proceeding with the studies in the target time (approximately 55 ECTS during the first year) is entitled to a 50% tuition fee waiver for the second year.

If the student was granted a first year scholarship to the programme, the second year scholarship is included as long as the studies are proceeding in the target time.

Student who does not have a first year scholarship can apply for the second year scholarship during the studies. Details for the second year scholarships will be communicated to the students during their first year.

Financial support

Degree students are eligible for a Finnish state scholarship and a state-guaranteed bank loan only if they have lived in Finland for at least two years in some capacity other than that of a student and if their residence in Finland can be considered to be of a permanent nature. Those who have sufficient other income or who progress poorly in their studies are not eligible for support. As a rule, foreigners who have lived in Finland for less than two years are not eligible for financial support unless specific reasons make their residence in Finland permanent. More information may be obtained from Kela.

European Funding Guide assists students (EU citizens) who seek financial aid.

You can also take a look at following external scholarship schemes:

Please note that the University of Vaasa is not involved in any of the above listed scholarship schemes. The study programmes offered by the university are full-time programmes and thus working is not an option when it comes to financing the studies in Finland.