Admission FAQs

If I apply as a part-time student, does it affect my chances of admission?
Applicants are not asked what their enrollment status (full-time or part-time) will be. Applying as a part-time student does not affect an applicant's chances of admission.

I have submitted my application, what's next?
The Admissions Committee will begin to review applications only after the application deadline has passed. We will send decisions on a rolling basis through May. Applicants will receive an e-mail notification when there is an update to their admissions status. All admissions decisions will be viewed through the online application portal.

When will I receive an admission decision?
Round 1 decisions will be released throughout February and March. Round 2 decisions will be released throughout April and May. 

Will my official admission decision letter arrive via mail?
All official admission decision letters can be accessed through your application only. Incoming student registration packets are sent out via email.

As a new student, can I choose when to begin the program?
Matriculation with the Financial Mathematics program is only permitted in the Autumn Quarter. Our September Launch is an invaluable resource for students to be prepared academically and professionally for the rigors of the academic year

Does the Financial Mathematics Program accept unofficial copies of transcripts and test scores?
During the admission process, applicants scan and upload their transcripts into the online application system. If a candidate is offered and accepts a spot in the MSFM Program, he or she is required to provide an official, final transcript prior to enrollment. This transcript must list degree conferral and be received directly from the issuing institution, either by mail (in a sealed and stamped envelope) or verified electronic transfer.  

Why was I denied admission into the Financial Mathematics Program?
Due to the large volume of applications and the limited number of Program slots available, we cannot offer admission to every qualified candidate. And, because the reasoning behind each Committee member's decision is both individual and unique, it is difficult for us to give each candidate an individualized answer. We ask that candidates NOT send us inquiries about denials.

How long is the program if I enroll as a full-time student?
Full-time students typically complete the program in 15 months, which includes four quarters of full-time course enrollment (autumn, winter, spring and autumn) and one quarter (summer) focused on an internship.

How long is the program if I enroll as a part-time student?
Part-time students, on average, complete the Financial Mathematics Program in two to three academic years. The program must be completed in four years.

When will my FRS form be processed?
Each candidate's FRS form is processed when the required supporting documents AND the tuition deposit have been received.

When will I receive my I-20 form?
We cannot provide an exact date for receiving the I-20 form. Those who submit all the required documentation and the tuition deposit by the designated deadline will receive their I-20 form in a timely manner. We ask that candidates wait at least 4 weeks after the FRS packet and tuition deposit have been received by us to inquire about their I-20 status.

When should I make a visa appointment?
We advise that candidates make a visa appointment once they have received their I-20 form.

Can I extend the program past my original intended graduation date?
Program extensions for international students are very rare with-in the Financial Mathematics Program, as our curriculum is specifically designed for international students to finish within the 15-months available but are available for those who qualify. To find out more information about extension eligibility, please visit the Office of International Affairs Program Extension webpage.

Does the University of Chicago offer ESL courses?
The University of Chicago offers English as a Second Language classes through the English Language Institute on campus.

How often will I be billed?
Billing is done on a quarterly basis. Billing statements are sent to the 'Current Address' listed in student's accounts. You can also view your bill in the Student Portal. Exact tuition billing dates can be found on the Bursar's website.

Please see Tuition for further information on billing.