If no application has been made to the Educational Fund for three consecutive years, accumulated grant entitlement is established. Members may then apply for a grant covering 90% of the tuition or course fee, up to a maximum of ISK 540,000, for a single continuous programme of study. The accumulated grant may only be claimed in a single application, and invoices must not be more than 12 months old at the time the application is submitted.

To qualify, employer contributions to the Fund must have been paid for at least 30 of the 36 months preceding the date of the application.

Where a member's entitlement to Educational Fund grants is calculated on a proportional basis, any grant paid—whether under the accumulated entitlement or the standard entitlement—will also be calculated proportionately (see Rule 2.1(c)).

Please note: The maximum grant available for language courses is ISK 180,000 per calendar year, and this limit also applies to members with accumulated grant entitlement. Members with accumulated entitlement may use the remaining balance towards a travel grant of up to ISK 150,000, covering no more than 50% of eligible travel and accommodation expenses.