In order to apply for a study permit in Norway, you must have funds equivalent to NOK 128 887​ for the academic year 2022/2023, w​hich is the amount the Norwegian Government deems sufficient to cover one year of food, housing and other living expenses. Note that the amount varies from year to year. Please check UDI's webpage (Norwegian Directorate of Immigration) for the correct amount. 

Documentation

To document that you have sufficient funds, you must demonstrate that you have deposited the amount into a Norwegian bank account in your name, or in an account that Nord University has opened for this purpose.

You may only open a Norwegian bank account in person in Norway, and you must have a Norwegian ID-number from the National Registry.

Unless you have access to a Norwegian bank account, we recommend that you make use of university's holding account. Read more below.

Nord University has created a holding account for self-funded international students from outside the EU/EEA who do not hold their own Norwegian bank account. The account is in Nord University's name and your funds are identified by your name and applicant number.

Who can use the account?

Applicants from outside the EU/EEA who have accepted their offer of admission from Nord University and are applying for a study permit in Norway can use the account. The university does not accept deposits from students or other individuals applying for other types of immigration permits, eg. family immigration.

Making a deposit

• Apply for deposit account​
  
• You may deposit funds as soon as you receive your Offer of Admission, prior to applying for your study permit. 
• The University does not accept deposits after June 1. Allow several days for your transfer to arrive in the account.
• Mark your deposit with your name and applicant number (on your Confirmation of Admission letter).

• You may transfer euros or US dollars but the final sum must correspond to no less than NOK 128 887 upon deposit.
• If you are going to be a student for only one semester in Norway, you must document NOK 58 585 for the autumn semester and NOK 70 302 for the spring semester. You may transfer in euros or US dollars.
  
• Nord University does not accept larger deposits in connection with applications for other types of residency permits, eg. family immigration. Please contact UDI if you have questions about documenting funds for a permit other than a study permit.

Confirmation of deposit

Once you have completed the transfer, you will receive an email from the​ International Office at Nord University confirming that your funds have been received.          

Interest

Your funds will not earn interest while in the holding account. Please read the information about accessing your funds carefully (see below).

Deposits for permits and housing

You may not use the funds deposited in our holding account to pay your deposit for student housing. Please contact StudentiNord (the student welfare organisation) for more information about how to pay your housing deposit.

Once you have arrived in Norway and obtained an identification number from the National Registry at the tax office, you will be able to open a Norwegian bank account.

Important: the International Office is unable to release funds from the holding account before you have opened your own bank account, nor will the office have any power to hasten the procedure with your application for an ID- number with the National Registry. 

Withdrawal from studies

If, for any reason, you withdraw from your studies at the institution, your deposit will be returned to the account it was transferred from.

If your application for a study permit in Norway is rejected for any reason, your funds will be returned to the account they were transferred from.

If this happens, Nord University will transfer the same sum that you transferred to the holding account.  Please be aware that the  final sum returned to you may vary as a result of the following:

• Changes in the exchange rates before or during transfer.
• Fees charged by foreign banks. The university's bank does not charge fees for return of funds.

Please allow around 4 weeks for return of funds.

Do not hesitate to contact us for more information:

International Office
international@nord.no
+47 7551 7870