The application must be accompanied by
- A paid invoice (not older than 12 months) in the name of the member where the studies/course description is stated as well as the name of the education provider.
- Confirmation of payment, e.g. a screenshot from an Internet bank. Only payment receipts that show confirmed transactions/payments from an Icelandic bank account/payment cards to the education provider in question, are accepted. The fund does not accept payment receipts for education/courses that have been paid in cash.
- Studies/course/conference which is attended overseas must also be accompanied by a description of the studies and a link to a course description from the website of the educator as well as an explanation of how the education relates to the applicant’s job.
- When student union fees of a secondary school are paid along with a school fee, a cost itemization must accompany the application to the fund. Student union fees are not eligible for a grant and therefore deducted from the total amount.
- It is not possible to apply for a grant more than once because of the same invoice.
Definition and conditions for a course
The criteria the Education Fund uses to define what constitutes a course are the following: A specific educational course that follows a predetermined plan or definition and usually ends with the issue of a certificate of performance or other confirmation. Personal counseling or guidance do not meet these course requirements set by the Education Fund.
To be called a course by the fund the conditions that must be met are:
- Defined beginning, end and instructor,
- course information must be accessible,
- the course must be available publicly.
- Follows a prepared plan or definition.
- Counselling, supervision, personal plan and any treatment/therapy do not qualify.
Falling under vocational grants are:
- General studies for credits
- Vocational courses
- Vocational Internet courses or subscriptions to a website/content provider
- Language courses
- Empowerment courses domestically (that are not part of a treatment resource)
- Conferences connected to the applicant’s job
- Management training/vocational coaching
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A member of VR and the company he or she works for are given the opportunity to apply for a joint grant from the fund if the member´s study fee is 200.000 kr. or more. The right of the individual and the right of the company are then both exercised according to the rules of the funds.
Funding rules
A grant is provided for 90% of studies / vocational course fee / conference fee to the maximum of 180 thousand per year.
If neither a vocational grant nor a travel grant has been applied for to the vocational education fund for three years in a row, a grant for 90% of a course fee for maximum 540.000 ISK can be applied for, for one continuous education. The grant can only be applied for once. Payments to the fund must have been received for the minimum of 30 months of the last 36 months prior to the date of the application.
Note that the rights in the fund can vary from month to month as the last 12 months of membership fees are taken into account in the calculation of rights. All rights expire when member fees haven't been paid for six consecutive months.