Documentation of financing
Some international students must document financial ability in order to be granted a residence permit for study purposes, i.e. they must document sufficient funds to cover living expenses for one academic year in Norway.
Who must document financial ability?
The Norwegian Directorate of Immigration (UDI) requires all citizens outside the EU/EEA area and Switzerland to document financial ability.
Please note that applicants from outside the EU/EEA/Switzerland who do not provide satisfactory documentation of financing within the application deadline will be considered ineligible for admission regardless of their academic qualifications.
For the academic year of 2017 - 2018, you must document funds equivalent of NOK 111,657. The amount may be documented in any currency.
How to document financing
You must document financing in one of the following ways:
- a recent official bank statement/transcript in your name
- a sponsor guarantee letter + sponsor's official bank statement/transcript (see below).
- a letter confirming that you are eligible for a scholarship/student loan from your home country
What is a Sponsor?
Many applicants depend on a sponsor for financial support. A guarantee from a sponsor is a letter in which the sponsor states that he/she is willing to transfer the required amount upon your admission to the Norwegian School of Economics, including a recent bank statement/transcript showing that the money will be available. The sponsor should be aware that the required amount must be available as soon as you are admitted. The sponsor guarantee must be provided before the application deadline and submitted directly by you.
Please note that only upon confirmation of admission shall the required amount be transferred to the SiB deposit account. Further information will be sent to those who accept the admission offer.