Tuition Fees and Scholarships

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

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 €
  • Master's Programme in Strategic Project Management, 10 000 €
  • Master's Programme in Sustainable and Autonomous Systems, 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 and have a continuous residence permit in Finland (P type or A type issued for purposes other than studies)
  • have an EU Blue Card

For further information, please see Studyinfo website.

Tuition fees are charged for the whole duration of studies in the Master's programme, until the graduation of the student. 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.

Tuition fees are not applicable to exchange or doctoral students.

Tuition fee refund policy - PDF (122 KB)

Scholarships

The University of Vaasa offers a generous scholarship programme for students who are subject to tuition fees. The scholarships can be granted for the target time of the programme, which is two years in the Master’s programmes.

 

First-year scholarships

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.

Scholarships are personal and linked to the acceptance of the offered study place. They do not transfer to other universities. Finland scholarships awarded by the University of Vaasa are part of the national Finland Scholarship programme funded by the Finnish Ministry of Education and Culture. 

Joint admission Rolling admission

Finland Scholarship

Each Master’s Programme offers three (3) Finland Scholarships to the highest ranked applicants in the selection process. The Finland Scholarship includes the following:

  • 100% tuition fee waiver for the first year in the programme
  • 5 000 EUR relocation grant that will be paid to the students’ Finnish bank account once they have settled in Finland and opened up a bank account

Finland Scholarship

Each Master’s Programme offers two (2) Finland Scholarships to the first accepted applicants whose GPA is at least 4/5 or equivalent in a system not using ECTS. The Finland Scholarship includes the following:

  • 100% tuition fee waiver for the first year in the programme
  • 5 000 EUR relocation grant that will be paid to the students’ Finnish bank account once they have settled in Finland and opened up a bank account

International Excellence Scholarship

Each Master’s Programme offers International Excellence Scholarships to applicants who are accepted third or later in the application round and whose GPA is at least 4/5 or equivalent in a system not using ECTS. The International Excellence Scholarship is granted as a first-year tuition fee waiver as follows:

  • EUR 3 000 (Finance, International Business, Strategic Business Development)
  • EUR 1 000 (Industrial Management, Industrial Systems Analytics, Smart Energy, Strategic Project Management, Sustainable and Autonomous Systems)

 

Second-year scholarships

All first-year scholarships include a conditional Achievement scholarship worth EUR 5 000 or EUR 6 000 for the second year. In order to receive the Achievement scholarship, the student must proceed with the studies in the target time (approximately 55 ECTS during the first year). With a possible scholarship, the tuition fee for the second academic year is:

  • EUR 5 000 (Industrial Management, Industrial Systems Analytics, Smart Energy, Strategic Project Management, Sustainable and Autonomous Systems) or
  • EUR 6 000 (Finance, International Business, Strategic Business Development)

The required ECTS credits must be completed by the end of the first academic year i.e. by the 31st of July.

  • In case the 55 ECTS credits are registered in Peppi already by mid-June during your first year, you can be granted the scholarship at that time for the second year.
  • If the required amount of ECTS credits will only be registered in Peppi after that, but you will complete that amount by the 31st of July, you will need to pay the full amount of tuition fees for the second year by the 31st July, and the amount of the scholarship will be returned to you if you have completed the minimum of 55 ECTS by the 31st July and they will only be registered to Peppi later.

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