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Iceland on a Student Budget: How to Survive the World’s Most Expensive Country

8 min read • Published September 2025

Iceland is expensive, but with the right strategies, students can stretch their budget and still enjoy the adventure.

Housing

  • Dorms: €400–600/month.
  • Shared apartments: €600–800/month.

Food

  • Grocery chains: Bonus and Krónan are cheapest.
  • Eating out is expensive (€20+ for a basic meal). Cook at home.
  • Tap water is free and clean—don’t buy bottled water.

Student Discounts

  • University student cards give discounts on buses, gyms, and museums.
  • Free entry to many natural wonders (waterfalls, hikes, geothermal areas).

Work Options

Non-EU students may need a work permit, but part-time work in cafés or tourism is possible.

With planning, students can live well in Iceland and still save for weekend trips around the country.