Menntaskólinn á Tröllaskaga is an upper secondary school for students aged 16-20, which issues its graduate students Secondary school Certificates and aims to prepare them for university study. The school was founded 2010 in Ólafsfjörður, a small fishing village located in northern Iceland with 800 inhabitants, and another 3000 living in the nearby communities of Siglufjörður and Dalvík. 

Menntaskólinn á Tröllaskaga has several study programs; social sciences, natural sciences, sports (students can either specialize in their own choice of professional sport training or in outdoor activities), and art (fine art (painting), art photography and music) and finally in environment and natural resources study. Furthermore, there is a study program for handicapped students focused on individual curriculum based on their abilities.

All students are required to use laptops in their studies and teachers have access to both a laptop computer and an iPad. Classes are organized into one week modules, in which students can both access and hand in their assignments online, with few exceptions. One-to-one approach is used in grading by formative assessment methods. There is a trend towards flipped teaching and collaborative approaches where formal class sessions are divided between single subject ́s class work and open all-subjects sessions. Teaching material varies from student ́s own research on the Internet, collaboration within a cloud, videos, various specialised material provided by teachers to books.

The school ́s vision was established with the words: Innovation – Creativity – Daring, defined as the school's aim for its student ́s studies and teaching as well as the school’s management,finances and collaboration.

Each semester ends with an exhibition of students ́ paintings, photography and music as well as other innovative projects. At the exhibition students also present various other assignments from their classes such as videos, posters, online activity, and more.

The school use formative- and continuous assessment so there are no final exams in May or December!

Self-management is the core virtue of this approach, as the power to learn is placed primarily in the students' hands.

At present there are registered students are about three hundred and sixty.Distand learners are in the vast majority, about two hundred and sixty.