Financing and Cost of Living

Exchange students have to ensure that they have sufficient funding to cover all expenses during their stay. The exchange programme usually provides you with some grant administered by your own university, the rest you have to get from other sources. There are no Finnish grants or scholarships available for foreign exchange students. Please note that Hanken does not offer any grants or other finacial support system for international students.

What is considered sufficient funds varies with individual spending habits. You certainly wish to enjoy the stay, which probably means that you have to add to your normal monthly expenses. A reasonable sum to cover costs for housing and living (Helsinki) would be EUR 850, the average rent calculated as EUR 390 per month. Students will have to pay a deposit for all types of accommodation upon arrival. This money is refunded when you leave. Take into account also the deposit for accommodation and the first month's rent when you set up your budget. Remember to reserve enough cash for expenses you are going to have during the first weeks!

Cost of living

The monthly costs in Helsinki could be broken down roughly as (approximations):
Rent: EUR 390 most common HOAS rent (approx. EUR 550 for a studio in central Helsinki) NB! as of 2011
Food: EUR 250 (whereof the state subsidized Hanken lunch is 50)
Local transport: EUR 20 (student discount)
Personal/incidental, study material: EUR 200

According to former exchange students who have been doing the "regular" touring exchange students do, i.e. Lapland, St. Petersburg, Estonia, Stockholm, the monthly average budget amount to EUR 1000 or more.

The monthly costs in Vaasa could be broken down roughly as (approximations):
Rent: EUR 200-350 NB! as of 2011
Food: EUR 250 (whereof the state subsidized Hanken lunch is 50)
Personal/incidental, study material, local transportation, : EUR 200