From the books of history, the likes of Adam Smith to the 90s luminary Milton Friedman, and even to modern figures like Esther Duflo, a common thread binds them all: they are widely known economists. But what does it take to become one of these influential figures? While talent and dedication are vital, access to quality education is crucial.
Fortunately, several excellent economics programs are available worldwide, with some offering the unique advantage of being tuition-free. So, if you also aim to become one of those influential figures but the high tuition costs are stopping you, these five free economics schools are here to make your dreams a reality!
Top Tuition-Free Institutions to Study Economics
While the opportunity to study economics without tuition fees might seem too good to be true, and one might assume it indicates low-quality education. However, we haven’t compromised on quality. We’ve carefully selected five of the top-tier, free economics schools worldwide!
1. University of Vienna
Firstly, we have great news for EU/EEA and Swiss citizens! The University of Vienna offers free tuition for students coming from these countries. Founded in 1365, Vienna is regarded as one of Europe’s oldest and most prestigious universities. If you look into its history, you’ll find that it once had one of Germany’s famous political economists and sociologists, Max Weber, among its faculty. Since then, the quality of the faculty, education, and its beautiful campus has remained consistent.
However, the program is primarily taught in German if you want to study economics at the bachelor’s level. International students should also consider obtaining a C1-level German language proficiency certificate before applying.
2. NHH Norwegian School of Economics
Next, coming up north in Europe, is the NHH Norwegian School of Economics, a top-notch institution and the first choice for business students studying in Norway. While the free tuition for locals and EU/EEA students is a significant advantage, the school’s stellar reputation is built on multiple factors.
As a triple-accredited institution, NHH has earned the prestigious “Triple Crown” status and has a vast international network of 195 partnered universities across 50 countries. Moreover, NHH also holds the distinction of being Norway’s sole member of CEMS—the Global Alliance in Management Education, which brings together top business schools, multinational companies, and NGOs. This affiliation opens many opportunities, including prestigious internships and job placements with leading global firms.
3. Berea College
Besides Europe, the United States also offers opportunities for high-quality, tuition-free education, with Berea College from Kentucky as a prime example. At this institution, you don’t need to be a citizen of an EU/EEA nation or even the U.S. The school is open to students worldwide, ensuring everyone has access to a quality education regardless of nationality.
The economics degree programs are highly sought after and have received positive reviews from past students. Even Berea boasts that its students have interned at high-profile firms like JP Morgan, Ernst & Young, Deloitte, American Express, and Royal Bank of Canada.
4. University of Helsinki
Built 500 years ago and situated in Finland’s capital, the University of Helsinki is another excellent choice for high-quality education with minimal costs. The institution offers free tuition for economics students from the EU/EEA and those pursuing Ph.D. programs, making it an accessible option for many. Even if you don’t qualify for free tuition, it offers various scholarships that can significantly reduce your educational costs, making it a more affordable option for international students.
Besides its accessibility, the University of Helsinki is a state-of-the-art, multi-disciplinary institution that ranks in the top 1% of the world’s research universities. Its student body reflects these facts, with over 2,200 international students currently studying on its four beautiful campuses.
5. Free University of Berlin
As the name suggests, the Free University of Berlin lives up to its reputation by offering tuition-free education for all students, regardless of nationality. This esteemed institution is one of Germany’s premier universities, renowned for its strong research focus and outstanding social sciences and economics programs.
Founded in 1948, the university is also home to a diverse international community, with 12% of the bachelor’s student body and 31% of the master’s students from abroad. Numerous partnerships and exchange programs further enhance this global perspective, allowing students to gain valuable international experience.
FAQs: Studying Economics
Can International Students Receive Scholarships While Enrolled in Tuition-Free Schools?
Yes, international students can often receive scholarships while enrolled in tuition-free schools. While the schools might not charge tuition, they may still offer scholarships to help offset other costs such as housing, meals, and personal expenses.
For example, Berea College, one of the schools mentioned in this article, offers various scholarships to its students, including the Berea Fund & Annual Scholarships and The Way Out Fund. These scholarships can significantly reduce the overall cost of attending this school, making it affordable for students from all backgrounds.
What Other Costs Should Students Expect When Studying Abroad?
While tuition-free institutions significantly reduce educational expenses, international students should still be prepared for additional costs. These include housing, meals, transportation, books and supplies, visa fees, and health insurance. Housing costs can vary widely depending on location and housing type.
Moreover, meal plans or grocery shopping are essential. Transportation may involve public transport passes or personal vehicles. Textbooks and supplies can add up. International students may also need to pay for a student visa and health insurance.
Remember, a good economist always saves money—and choosing one of these tuition-free schools is no exception. These institutions, from the USA’s Berea College to Norway’s NHH Norwegian School of Economics, offer a world-class education, diverse opportunities, and a global perspective, all without the financial burden of tuition fees. So, apply to these schools and earn your economics degree hassle-free!
We hope this article about the free economics schools with no tuition was helpful. Make sure also to check out the Available Programs for International Students to learn more information about studying abroad!
