Grants are awarded to Faroese students studying in the Faroe Islands and abroad. There are many different types of student grants with different eligibility requirements. Student loans are also available.

There are two student grant schemes. The most commonly awarded student grants are:

• The ÚS scheme: All grants awarded to students in the Faroe Islands:
  • Grants for living expenses for students aged 18 or over.
  • Grants for domestic travel are awarded to students travelling via public transport to ensure equal travel expenses for all students, regardless of the distance to their educational institution.
  • Grants for study materials are awarded to all students aged 18 or below.
  • Accommodation grants are awarded to students aged 18 or below who need to relocate to their school area.
• The ÚSUN scheme: Grants for study outside of the Nordic region. As citizens of the Danish Commonwealth, Faroese students are typically awarded grants for living expenses from SU, the Danish Student Grant Fund, for study within and outside the Nordic region. The Faroese Student Grant Fund (Studni) offers tuition fee subsidies for study in countries outside of the Nordic region.

Students may also apply for:

• Travel grants for overseas travel once a year.
• Project grants covering, partly or in whole, travel expenses for Faroese students in higher education (in the Faroe Islands or overseas) who require international travel as part of a major student project.

Faroese students can apply for two types of student loan:

• ÚS loans: Loans issued in the Faroe Islands.
• ÚSUN loans: Loans for Faroese citizens studying outside of the Nordic region.