The underlying principle in university education is the freedom of research and university autonomy, which gives them extensive latitude for independent decisions. Each university and the Ministry of Education conclude a three-year agreement on target outcome to determine the operational principles. The most important legislation governing the universities are the Universities Act and Decree, the Decree on the Higher Education Degree System and field-specific Decrees, which lay down, among other things, the responsibility for education in a given discipline, degree titles, and the structure, extent, objectives and content of education. Universities select their own students, and the competition for openings is stiff. All fields apply numerus clausus , in which entrance examinations are a key element.
Universities offer openings for about one third of the age group.
The annual number of applications is nearly 66,000, and only 23,000 candidates are admitted. At present there are 147,000 university students in Finland, of whom 19,000 are postgraduate students. The largest fields of study are technology, the humanities and the natural sciences, and the smallest are fine arts, theatre and dance, and veterinary science. The degree system was overhauled in the 1990s with a view to international equivalence, larger freedom of choice, and comprehensive degrees allowing flexible combinations of study modules from different fields and establishments. In the new degree system, it is possible to study for a Bachelor's or Master's degree in 20 different fields of study.