Managing Your Student Finances in Malta
Plan your budget effectively with this guide to tuition fees, living costs, scholarships, and financial requirements for studying in Malta.
Malta Student Money Guide
Example Tuition
€6,600 for the UM foundation year (a course before a bachelor's); €8,000 a year for an AUM bachelor's; €10,800 to €13,400 for the whole UM master's
Money Topics
Detailed guides for each part of your budget.
Planning Your Budget
Your biggest costs are tuition and rent.
Essential Monthly Expenses
A room in a shared flat for 2 or 3 people (a month).
Food and drinks, not eating out (a month).
With a personalised tallinja card (Malta's bus card).
Electricity and water, basic rate (a month).
Phone and Wi-Fi: €30 a month.
Toiletries, cleaning products, stationery (a month).
Banking in Malta
UM students staying more than six months may be able to open a local bank account.
- Student accounts for UM students studying at least 6 months.
- You can apply before your residence permit card arrives.
- International Student Savings Account for UM students.
- Visa debit card.
- Branch at Campus Hub, near UM.
- Online opening if you have a Maltese residence permit card.
What Banks Usually Ask For
- Passport.
- Letter confirming you are registered at your university.
- Tax Identification Number (TIN, a Maltese tax number).
- Proof of address, if your ID does not show it.
Money Transfer Options
Bank Wire Transfers
Traditional bank-to-bank transfers using SWIFT/BIC codes.
Money Transfer Services
Services like Wise, Remitly, Western Union, and MoneyGram.
Common Payment Methods
Cash
Keep some cash on hand for small purchases and emergency situations. ATMs are widely available.
Smart Financial Tips
Expert advice to help you manage your finances effectively while studying in malta
Planning
Keep your tuition receipt for your visa and your residence permit.
After you arrive, keep the money you showed for the permit in your account.
Housing
Share a flat to pay less rent.
Book housing as soon as you are accepted.
Pro Tips for malta
Currency Management
- • Monitor exchange rates and transfer money when rates are favorable
- • Use multi-currency cards to avoid conversion fees
- • Keep some local cash (€) for emergencies
Local Financial Culture
- • Learn about local tipping customs and practices
- • Understand tax obligations for international students
- • Explore local student financial support programs
Remember: Financial planning is key to a successful study abroad experience. Start planning early and don't hesitate to seek advice from financial advisors or your university's international student services.
Complete Guide to Malta
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