Finding an institution that offers high-quality education is just the first step when studying abroad. Equally important is understanding the financial implications of your decision. In the beautiful but somewhat costly country of Liechtenstein, various funding options exist to help students cover their educational expenses. Today, let’s delve deeper and explore the funding opportunities available at the University of Liechtenstein.
Main Components of Study Costs
Before diving into the various funding options, let’s break down the primary contributors to a student’s expenses: living costs and tuition fees. Liechtenstein ranks among the more expensive countries in Europe, but it’s important to keep in mind the high standard of living it offers. Here’s a summary of the approximate monthly costs:
- Rent, including utilities: CHF 680
- Telephone/Mobile: CHF 20
- Food: CHF 150
- Health insurance: CHF 100
- Clothing, laundry, hygiene: CHF 100
- Leisure spending: CHF 150
In short, students at the University of Liechtenstein can expect their total cost of living to round about CHF 1,200 per month.
The tuition fees for a semester at the University are CHF 950 for EU/EEA and Swiss citizens, or CHF 1,250 for other citizens. Exceptionally, Erasmus students pay their tuition at their home university.
Parental Support
Often, parents help students meet their financial needs. However, the extent of this contribution can vary greatly depending on circumstances. When parental support is insufficient or unavailable, there are several other avenues that students can explore.
Scholarships
Scholarships are primarily performance-based and do not typically require repayment. They consider academic performances, while some may also look at factors such as political or social engagement. The University of Liechtenstein students can explore scholarship databases from Switzerland and Austria, as well as the Swiss Study Foundation.
Additionally, the University of Liechtenstein also offers specific scholarships for certain programs:
- The API Scholarship for students in the MSc in Architecture program, especially targeting students from developing countries.
- The Hilti Fellowship for students of the MSc in Information Systems.
- The LGT Scholarship for students enrolled in the MSc in Finance program.
Part-time Work
Many students partially fund their studies by working part-time. The University of Liechtenstein offers a number of job opportunities and internships through its career service.
Study Loans
Study loans are another viable source to fund your studies. Numerous banks and countries offer suitable loan options to meet specific study needs. The Principality of Liechtenstein offers an interest-free loan to students who have resided there for at least three years. Additionally, the online company Splendit provides a platform that connects people seeking financial support and those who are able to offer it.
Getting a world-class education is priceless, but navigating through the financial commitments is crucial for a smooth journey. With an array of options like parental support, scholarships, part-time work, and study loans, the University of Liechtenstein ensures its students can focus on what really matters – their education and personal growth.
