Financial information
When planning to move to another country there are many details that have to be taken into consideration, in particular when planning a budget and financial matters.
Rideo Group guides students through the process of enrollment and offers all kinds of informational support and services making the relocation process a smooth and comfortable experience.
Our legal advisors are ready to offer assistance on any legal matters that may arise during your studies and residence in Cyprus.
All you need is to contact us for more information.
Tuition fees and Scholarships
Free education in Cyprus
Pursuing studies in Cyprus is a prestigious and promising path to follow. Many Cypriots study at public and private Universities for free, except for paying mandatory registration fees (the amount varies from €100 to €200 per year). EU Citizens and foreign residents, who have received Secondary Education in Cypriot schools and have taken Pancyprian exams, are also eligible for free studies. It is important to note that free higher education in Cyprus is only available at public Universities, where all programs are taught in Greek.
The greatest majority of foreign nationals pay for their tuition. However, there are some ways to attain Scholarships and financial aid, more information about it is given under the subheading Scholarships below.
Cyprus Universities tuition fees
Tertiary educational institutions in Cyprus in comparison with the European ones stand out as reasonably priced, while programs of study are accredited at the same level as the ones in other European countries. In addition to that, as Cyprus allows for a comfortable and affordable lifestyle, the island can be considered as an ideal place for pursuing higher education.
It must be pointed out that fees may vary and change each year, that is why it is important to inquire about current fees right before applying to the University.
Tuition fees for 2021-2022 academic year were:
| Educational institution | Diploma | Bachelor per year | Masters 1,5-2 years | Doctoral studies 3 years program |
|---|---|---|---|---|
| University of Nicosia* | - | from €6,300 | from €10,800 | from €13,500 |
| UCLan Cyprus | - | from | from | from |
| CBS College | from | €6,000 | €5,800 | - |
| Larnaca College | from | from | from | - |
| Intercollege | from | from | - | - |
| Cyprus Maritime Academy | - | - |
*University of Nicosia brochure about tuition and fees.
*Maritime Academy Cyprus and Intercollege brochure about tuition and fees.
Scholarships and financial aid
It is vital that education in Cyprus becomes affordable for students of all levels of family income. Scholarships can be received by anyone, it depends only on the individual student’s efforts.
Listed below are the different types of scholarships offered:
- Merit-based Scholarship – a tuition reduction of 10-50% for academic achievements. Applicants with high grades of the School Leaving Certificate and students with high academic performance can apply for fees reduction. This is the most popular type of Scholarship.
- Need-based Scholarship – a reduction provided for the students that in the course of their studies faced financial hardship due to family or social reasons. If that is the case, an application should be made to the academic affairs and financial offices. Relevant documents and proof may be required to demonstrate the nature of the difficulties.
- Athletic Scholarship – a reduction for students that participate in athletic competitions between Universities and win awards for their institution.
- Fellowship – a reduction that is similar to grants and aid. It is received by students working as assistants, researchers and otherwise at the University.
All the above mentioned Scholarships may be named differently by institutions and additional types of Scholarships may be awarded by some Universities. Each case is examined on an individual basis.
Applying for a Scholarship:
Scholarships are granted by the Universities. Applications for Scholarships should be submitted at the academic office at the beginning of each academic year.
An application for a Scholarship is a letter, in which the student clearly states the reasons for being eligible for the specific type of Scholarship.
Rideo Group consultants assist students in writing the letter to their University and help prepare all the required documents.
Contact us to arrange for a free consultation and to get detailed instructions on applying for a Scholarship.
Accommodation
Student accommodation in Cyprus
Upon entry to University or College in Cyprus, students need to consider their place of residence, this is an important part of where they will spend the best years of their lives. The accommodation can be in the form of rental apartments or student residences (University dormitories).Within or close to the areas of all Cypriot educational institutions there is a wide choice of housing, these can be in the form of:
Studio apartments/studio’s for individual accommodation;
1 or more roomed apartments and penthouses that can be shared with other students.
The price differs depending on the city of the educational institution, Nicosia and Limassol are a little more expensive than Larnaca and Paphos. Student apartments have absolutely everything required for a comfortable, pleasant life and successful study.
| City / Type of housing | Nicosia | Larnaca | Limassol | Paphos |
|---|---|---|---|---|
| Apartment/ 1-room. from | € 600-900 | € 500-700 | € 700-900 | € 500-700 |
| 2 and 3 rooms from | € 650-1000 | € 650-950 | € 800-1200 | € 650-950 |
Rideo Group professionals will help with consulting, selecting and acquiring accommodation that best suits your needs. It is possible to arrange an apartment in a student residence by contacting the University directly but better still we at Rideo Group are happy to arrange all this for you, we work closely with local and national estate agents for more practical options. If you are interested in any other solutions, please contact one of our friendly team with any questions or queries that you may have, we are confident that any concerns you have will be easily answered.
Practical Tips for Shared Housing:
- Immediately resolve all financial issues (food, utility bills, etc);
- Share responsibilities (household problems, cleaning);
- Respect each other (use of common space);
- Define a personal zone (everyone needs their own space, has their own interests, secrets, friends);
- Be honest and open as any problems will only get worse if not resolved.
Student Apartments (Dormitories)
Accommodation of students in student apartments of Universities.
Universities in Cyprus offer students accommodation in apartments of a very high standard, these are located in close proximity to the educational buildings (student campuses). It is incorrect to call them hostels because they are very reminiscent of hotel suites. Living in student residences is a great opportunity to make new friends.
The University of Nicosia (UNIC)
The 3 newest complexes are:
- SIX;
- U;
- TRIANGLE.
Student rooms are usually 1-2 beds including a full set of furniture, separate bathroom, kitchen, Wi-Fi access, linens, dishes and more. These are the most comfortable, safe (guarded 24/7), modern campuses in all of Europe. There are also dozens of cafes, restaurants, pubs, lounge bars, rooftop bars, TV rooms, games rooms, gyms and entertainment venues nearby. Here everyone can find something to their liking:
- Fishing and diving;
- Walking and cycling;
- Relaxing on the beach or in the pool;
- Playing sports;
- Photography;
- Choreography and much more.
Also, it is important to note that UNIC residences have special apartments equipped for students with disabilities.
The University of Central Lancashire Cyprus (UCLan Cyprus).
This University has a state-of-the-art student residence that received a special EMEA award in 2013 as the most advanced student accommodation. State-of-the-art student suites with high speed internet, outdoor swimming pool and electronic entry monitored 24 hours a day. In addition to recreation and leisure facilities (restaurants, cafes, mini-markets, TV rooms, play areas), there are opportunities to improve yourself in sports, dancing and various hobbies. Also on the site of the university there is ample parking for cars and bicycles.
Cyprus has so much to offer, such as:
- Wonderful clean beaches;
- Parks;
- Beautiful walks;
- Warm sunshine most of the year;
- Safe environment and healthy living.
Colleges do not provide their own student residences but for those that require accommodation, the areas around CBS College, Larnaca College, Intercollege, Cyprus Maritime Academy is the availability of a huge selection of new comfortable housing for students. Everyone will have the option to choose accommodation according to their individual and financial requirements.
Cyprus living expenses
An important topic of student life is the issue of nutrition. There are no issues with this in Cyprus there is an abundance of fresh vegetables, fruits, dairy products, meat, and seafood available all year round.
Students have the option of eating in one of the inexpensive cafes located within the campus which serve high quality meals at the fraction of the cost of restaurants, they offer individual meals for those that have intolerances or require special ingredients. Students also have the option of eating in one of the many restaurants and clubs that Cyprus has to offer but these can and more often will be much more expensive.
Students that are happy to prepare and cook meals within their accommodation will save even more money and have healthy home cooked meals just like they like.
| City / Type of housing | Nicosia | Larnaca | Limassol | Paphos |
|---|---|---|---|---|
| Average cost of living per person excluding rent | €450-650 | €400-550 | €750-1000 | €500-650 |
Consideration needs to be made for water bills that arrive every 3 months and for electricity every 2 months. In Cyprus, the summer season lasts 4-5 months and in hot times it is simply necessary to cool the room with air conditioning.
Transport in Cyprus
The best way to travel around the island is via car, motorcycle or bicycle, public transport is poor in some areas but getting better, this varies from town to town running on an hourly basis but the amount is relatively inexpensive with journeys costing €1.50 for a standard single rate ticket. Student discount cards are available and reduce the price to €0.75 per journey but the most cost effective way to travel is to purchase an unlimited weekly pass at €10.
Some students prefer to use bicycles, distances in Cyprus within the city are not so significant, although here you need to take into account the peculiarities of the weather: in winter there are very rainy seasons and in summer temperatures can reach about 40 degree celsius, this makes cycling extremely challenging. Another popular way of getting around is by scooter, these can be hired (from many rental outlets) or bought outright.
Driving in Cyprus is on the left. If upon arrival in the country you already have documents for the right to drive a car, then you can use them for 6 months. Next, you will need to exchange your rights for an internal Cypriot driving license. For those who do not have a driver’s license, it is quite possible to obtain one in Cyprus by passing a theoretical exam in traffic rules and driving practice.
Of course, it is best to get your own car. It is not expensive. An economy class car in fairly good condition can be purchased at a cost of €1000. Having a vehicle is both convenient and comfortable. The student is not tied to the bus schedule, more freely manages his time, all educational and not only institutions are equipped with parking places. The benefits of owning your own transport is the opportunity to travel around the island and discover it for yourself.