Financial issues

Tuition fee

There is no tuition fee for Danish students, Nordic students, and students from the EU/EEA countries. Students with a permanent residence permit in Denmark or with a temporary residence permit with the possibility of obtaining a permanent residence permit in Denmark also do not pay a tuition fee.

All other students must pay full tuition fee.

See the tuition fees here

From semester start 2018, students are required to pay the tuition fee for the whole of the first year prior to the semester start. Failure to pay this installment will result in an annulment of your application.

After the first year, students must pay (in advance) for the next semester. Failure to pay these installments prior to semester start may result in expulsion from the Academy. In both circumstances the immigration service will be informed, which may have implications for your visa.

Tuition fee terms and conditions, may 2016 (pdf) 

Tuition fee terms and conditions, september 2017 (pdf) 

Tuition fees only cover tuition expenses, not living expenses like accommodation, food and leisure.

Scholarships and grants

If you are an international student, you can – in a few cases – apply for scholarships to fund all or part of your programme at the Business Academy. All students can apply for scholarships to fund studies or internships abroad.

Get more information here

General costs

All students pay all other costs such as books, field trips and trips abroad themselves.

All international students must pay a material fee of € 150-200 prior to admission. The compulsory material fee covers expenses such as print-outs, handouts, student card, introduction arrangements for the first semester, etc.

Living expenses in Denmark are quite high. We strongly recommend that the student has enough money to cover his/her living expenses for the first 6 months.

See an example of a student budget (pdf)

Currency

The Danish currency is the kroner (DKK), divided into 100 øre. The exchange rate is approximately 7.45 DKK for 1 EURO. 

Bank account

You might want to open a bank account in Denmark, especially if you want to pay your rent directly from your account. If you find a student job in Denmark, you must have an account in a Danish bank. 

To obtain a bank account you need to show your passport and CPR number. You will get a bank account and a bank card within two weeks. When choosing a bank, you may be interested in asking about the fees and charges for withdrawing money from an ATM, card payments at local supermarkets or shops or when paying the rent or the bill for your phone or any other subscription directly from your account. 

Tax

The tax system in Denmark is rather complicated, as there are income thresholds that correspond to different tax levels. In short, taxes can range from 8 to above 50% of a taxpayer’s gross income. The high taxes are a logical consequence of welfare policies such as free health care and free education. 

If you get a job, you will have to pay tax in Denmark. 

To get a tax card etc. see SKAT (the tax office)

You will only be able to receive personal assistance at a tax centre in special cases - and only by appointment. 

You must have a work permit and a CPR number to get a tax card. 

Favourable taxation rules

There might be favourable taxation rules applying to students coming from the following countries: China, the Faroe islands, Greenland, Iceland, Indonesia, Israel, Morocco, Pakistan, the Philippines, Romania, Thailand, Trinidad and Tobago, Tunisia, Turkey, the Ukraine, Venezuela, Vietnam, and Zambia. Please contact SKAT for further information. You might refer to ”dobbeltbeskatningsaftalerne”.