Cost of Living and Finances

Financing and budgeting are important aspects for students no matter which country. The cost of living, currency and banking are subjects worth knowing about before your arrival in Sweden as are ways to receive student discounts.

Cost of Living

The cost of living in the Nordic countries can be slightly higher than in other European countries. One criterion that Sweden's Migration Agency (Migrationsverket) looks at before granting you a residence permit for studies is your ability to support yourself financially throughout your stay in Sweden.

The Migration Agency decides how much you must show that you have available for your study period. In 2023, the sum for each month of the ten-month academic year is 9450 sek. (You are required to show that you have more funds more if you are bringing family members.)

The Study in Sweden website provides a monthly budget by way of example but it is worth noting that it is cheaper to live in Dalarna than it is to live in other parts of Sweden, such as the major cities; therefore, the amount Study in Sweden proposes will be more than enough for a student at Dalarna University.

Student Discounts

The Mecenat student card is a cost-free card that gives students in Sweden access to discounts on certain products and services. When you become a member of the Student Union, you can receive one of these cards: Mecenat. With this card, students receive discounts in many shops and businesses, as well as on trains and buses. Certain businesses offer student discounts: simply ask or look for signs stating Studentrabatt.


If you are an international student and do not have a Personal Identity Number (personnummer), then you need to present certain documents to the bank when opening a bank account. These are as follows:

  1. a valid passport or, for EU/EEA citizens, an identity document that provides citizenship information;
  2. a residence permit for Sweden; and
  3. a letter from the university proving admission for the study period. You will also need to give your address in Sweden.

The recommendation is that if you are studying for only a short time in Sweden, then use your bank account in your home country. You will still be able to withdraw money from cash machines and make purchases using your bank card from your home country.


Sweden uses "kronor" and "öre": 100 öre = 1 krona (kronor = plural). You will see kronor written in a number of ways:  using the number 10 as an example, 10 kr, 10 sek, 10 SEK and 10:-.

The Euro is not used in Sweden.

To exchange money, you can do so at the airport you arrive to in Sweden. There is also a currency exchange available in Falun at the Falan Gallerian shopping mall.

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