schools offering university-level instruction include Reykjavík University, University of Akureyri, Agricultural University of Iceland and Bifröst University.
An OECD assessment found 64% of Icelanders aged 25–64 have earned the equivalent of a high-school degree, which is lower than the OECD average of 73%. Among 25–34 year-olds, only 69% have earned the equivalent of a high-school degree, significantly lower than the OECD average of 80%. Nevertheless, Iceland's education system is considered to be of excellent quality: the Programme for International Student Assessment currently ranks it as the 16th best performing, above the OECD average. Students were particularly proficient in reading and math.
According to a 2011 Eurostat report by the European Commission, Iceland spends around 2.75% of its GDP on scientific research and development (R&D), about 1% higher than the EU average, and the 4th highest of any European country. A 2010 UNESCO report found that out of 72 countries that spend the most on R&D (100 million US dollars or more), Iceland ranked 9th by proportion of GDP, tied with Taiwan, Switzerland, and Germany and ahead of France, the UK, and Canada
