Financing and Cost of Living

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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 900, the average rent calculated as EUR 400 per month. Students will have to pay a deposit for all types of accommodation upon arrival. The deposit for at student room from HOAS/VOAS is paid previous to arrival when accepting the room and signing the contract. The deposit is refunded when you leave. 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:
Rent: EUR 400 (most common HOAS rent for room in shared apartment)
Food: EUR 250 (whereof the state subsidized Hanken lunch approx. 60)
Local transport: EUR approximately EUR 25 (student discount)
Personal/incidental, study material: EUR 225

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 1200 or more.

The monthly costs in Vaasa could be broken down roughly as (approximations):
Rent: EUR 250-350
Food: EUR 250 (whereof the state subsidized Hanken lunch is approx. 60)
Personal/incidental, study material, local transportation, : EUR 225