photo of Vilnius Lithuania

ISM University of Management and Economics

Dates | Costs | Location | Activities | Courses | Language | Eligibility| Housing and Meals | Application | Scholarships I Visa

The ISM University of Management and Economics in Vilnius located in the very centre of the city, thus the University is easily accessible, and the students have the opportunity to make use of all the advantages of the modern and dynamic cities. The cost of living in Lithuania for foreign students is not very expensive. Open the ISM door and you’ll find yourself in an environment where all the conditions to study and develop are created. Spacious, modernly equipped classrooms, computer rooms, the library, which offers the latest business books, and recognized teachers guarantee high quality studies and provide the opportunity to obtain the best results.

Click here for more information about ISM's exchange program for UNC students.


Fall Application Deadline: March 12
Fall Semester: view website

Spring Application Deadline: October 1
Spring Semester: view website

Estimated Costs

Students participating in exchange will pay tuition and fees to UNC. They will pay all other expenses in the host country. The budget given in US dollars is an estimate and is subject to change dependent on exchange rates. Tuition and fees estimates below are based on in-state residency rates with COF. Students will be billed at their current tuition rate.

Click here for the most current exchange rate.

All costs are estimated based on a five-month semester.

Program Fees (billed through UNC account)

Tuition and Fees


International Health Insurance


Study Abroad/Exchange Admin Fee


TOTAL Program Fee


Estimated Additional Expenses (not billed to student account)

Housing and Meals




Passport/Visa/Required Documents/Photos/Immunizations


In-country Health Insurance


Texts/Course Materials


Essential Daily Living Expenses


TOTAL Estimated Additional Expenses (without spending money)


Additional Spending Money & Personal Travel
 (not included in financial aid calculation)

$1,000 - $2,000

The above estimated total expenses are used to help plan and prepare for the program, as well as calculate eligibility for financial aid.  Not all students will incur all the expenses above.  Note that the last line is not considered a necessary expense and is not included in the total for financial aid purposes.  All amounts listed are estimates and are subject to change depending on international economic factors, past participant reports, and on-site staff reports.  Student expenditures in-country depends greatly on personal spending habits, post- or during-program travel, and available funds.



Lithuania is the largest of the Baltic States and a full and active member of the European Union. It is located on the eastern shore of the Baltic Sea, set amongst a landscape of gently rolling plains with many forests, lakes, rivers and streams. Once a grand duchy and now a multicultural state, Lithuania presents tourists with splendid architecture, the narrow winding streets of the Old Town in Vilnius, historic baroque churches, and numerous cultural events.

Lithuania has put in an impressive economic performance over the past several years, earning such nicknames as the “Ballistic Baltic” and the “Baltic Tiger” for the speed and expected stainability of its economic growth. Lithuania’s business environment is deservedly noticed by investors worldwide. Indeed, in 2004 Lithuania was ranked among the top 20 countries worldwide for its business-friendly environment by the World Bank - International Finance Corporation “Doing Business” survey. Experience untouched nature through outdoor activities, get up close to the rich historical and cultural heritage of this very special Baltic country, go visit the seaside, talk to friendly and open-minded people, immerse yourself in entertainment at numerous café’s, pubs, and nightclubs. Experience Lithuania!


ISM has a great variety of leisure activities including cinemas, art performances, discos and various festivals. Additionally, off -campus modern sports facilities are available for recreation use.

Click here for more information regarding activities.


ISM offers a wide-range of coursework taught in English. Courses are available in business, economics, language, and political science.

Click here for a listing of current courses taught in English.

Course descriptions can be found here.

ISM uses the ECTS credit system. Therefore, students will need to enroll in a minimum of 24 ECTS credits to be considered a full-time UNC student. 1 ECTS credit = .5 (1/2) UNC credit.

Language of Instruction


Eligibility and Availability

To be eligible to apply students must have at least a 2.5 GPA and must have completed at least two semesters of courses at UNC.

This program is open to all majors with no limit on the number of UNC students who can participate each semester. Students may apply for one semester or one academic year. A three-week summer program is also available to students.

Housing and Meals

The downtown area is within walking distance and many restaurants offer daily lunch specials. Vilnius campus does not have an on campus cafeteria. However, downtown restaurants are within walking distance. 

ISM offers on-campus housing for international students in one of two dormitories. Both facilities are an approximate 20 minute walk from the university.  

On-Campus Housing

Gile Dormitory: This dormitory is the newer of the two facilities and doubles as a two star hotel during the summer months. Rooms are equipped with a bed, table, cupboard, chair, table lamp, mini refrigerator, wireless internet, and television. Additionally, each room has a private bathroom. Common facilities include washing machine access, kitchen, common room, copy and fax services, and security. Rooms are designed as a double occupancy unit, however, students can lease the room based on single occupancy for a higher rental fee.
Click here for detailed information. Prices range from 190 € to 360 € per month. 

Paupio Namai Dormitory: Rooms are equipped with bed, table, cupboard, chair, table lamp, wireless internet, and television. Common facilities include kitchen with refrigerator, bathroom for every 2-3 rooms, washing machine access, dining room, and terrace.
Click here for detailed information. Prices range from 115 € to 145 € per month.     

Off-Campus Housing:

Although the university recommends students reside in on-campus housing, to verify the quality of student living conditions, numerous flats are available for rent. However, ISM does not participate in the process of renting a flat for students. If the student chooses to rent an off-campus flat, it is sole responsibility of the student.
Click here for a list of potential sources ISM has provided for finding off-campus housing
Click here for more information about housing at ISM

Breakfast, lunch, and snacks are available in the student cafeteria on campus. The student cafeteria is located on the ground floor of ISM in Kaunas campus. Daily specials are approximately 3-4 € (hot dish, soup, and a drink).
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Students must first complete the UNC study abroad application. Students meeting the minimum requirements will be selected to participate. If selected, the student will need to complete an admissions application for ISM via a provided online log in. For complete information on the application process, please view the website here.


Exchange students can apply for Lithuanian State Scholarships for short-term studies here.


Students intending to study in Lithuania must obtain type D National Visa to enter the Republic of Lithuania.

Students will submit a visa application through the Lithuania Consulate General in Chicago. Student should be prepared to submit the following information with the application form. Although processing time takes approximately ten business days, students should apply for their visa at least 30 days in advance to deal with any unforeseen issues.