One characteristic of Iceland's higher education system is a four-year course. After completion of undergraduate degree, The University of Icleand often have scholarships for those students who may want to further studies to master’s and doctorate levels. It is based in Vesturbær, Reykjavik and was founded in 1911.

A master’s degree is a higher education program that many students aspire to obtain. Receiving an MA is proof of years of hard work and dedication to a specific field, and it may show employers that graduates are knowledgeable and ready to handle the rigors of the workplace.