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 receiving a possible scholarship together with the admission results.

First year - Finland Scholarship

Each Master’s Programme at the University of Vaasa offers five Finland Scholarships to the most merited applicants who are subject to tuition fees.

Finland Scholarship covers:

  • 100% of the tuition fee for the first academic year
  • 5 000 EUR of relocation expenses

Finland Scholarship will be paid to a Finnish bank account once the student has settled to Finland and enrolled as attending at the University of Vaasa.

The students who are granted a Finland scholarship must confirm their study place in the programme by the deadline communicated to them with the admission decision. If not following the deadline, the scholarship will be lost.

Second year - Achievement scholarship

All first year scholarships include a conditional Achievement scholarship worth EUR 5000 or EUR 6000 for the second year. In order to receive the Achievement scholarship, the student must proceed with the studies in the target time (approximately 50 ECTS during the first year). With a possible scholarship, the tuition fee for the second academic year is:

  • EUR 5000 (Industrial Management, Industrial Systems Analytics, Smart Energy) or
  • EUR 6000 (Finance, International Business, Strategic Business Development)

The required ECTS credits must be included on your Transcript of Records by the end of the first academic year i.e. by July 31.

Students who do not have a first year scholarship can apply for the second year scholarship during the studies. Details about 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.