Master of Mathematical Finance
Field of Study:
₹30.9 L/Yr
IIT Chicago is a 2 years Full Time Master program. This program is offered On Campus. The first year fees for at IIT Chicago is ₹ 47.77 Lakhs (USD 53400). Earlier in 2023, the Fee was ₹ 27.56 Lakhs (USD 30816). This shows that the academic fees has increased by ₹ 2020139 (USD 22584).
For admission to at IIT Chicago, international students need Duolingo-115. The Application Deadline For Fall Intake is 15 June 2026. For more details, check IIT Chicago Admissions 2025
IIT Chicago Total Fees 2025
The tuition fee for at IIT Chicago is USD 53400 per year (₹ 47.77 Lakhs). Meanwhile, the total cost is USD 83016/Year (₹ 74.26 Lakhs). This includes the tuition fee and other expenses such as Living Cost, Books & Supplies, Health Insurance, etc.
The tuition fee for at Illinois Institute of Technology is as follows:
| Expense Type | Average Cost (INR) | Equivalent (USD) |
|---|---|---|
| Tuition Fee | ₹ 47.77 Lakhs | USD 53400 |
The other expenses for at Illinois Institute of Technology is as follows:
| Expense Type | Average Cost (INR) | Equivalent (USD) |
|---|---|---|
| Housing Cost | ₹ 10.47 Lakhs | USD 11700 |
| Food | ₹ 4.2 Lakhs | USD 4700 |
| Transportation | ₹ 1.79 Lakhs | USD 2000 |
| Personal and Miscellaneous | ₹ 3.13 Lakhs | USD 3500 |
| Health Insurance | ₹ 2.04 Lakhs | USD 2286 |
| Books and supply | ₹ 83,189 | USD 930 |
| Miscellaneous expenses | ₹ 4.03 Lakhs | USD 4500 |
| Total Cost | ₹ 26.49 Lakhs | USD 29616 |
Tuition Fee Trends at IIT Chicago
IIT Chicago Fees for Indian students is ₹ 47.77 Lakhs (USD 53400). This academic fee has increased by ₹ 2020139 (USD 22584) from 2023. Candidates can check the year on year trends in IIT Chicago Fees in the table below.
| Academic Year | Tuition Fees (INR) | Tuition Fees (USD) |
|---|---|---|
| 2024 | ₹ 47.77 Lakhs | USD 53400 |
| 2023 | ₹ 27.56 Lakhs | USD 30816 |
| 2021 | ₹ 29.09 Lakhs | USD 32516 |
IIT Chicago Application Deadlines & Important Dates
The key dates for the application process for at IIT Chicago include:
- Application Deadline For Spring Intake is 15 November 2025
- Application Deadline For Summer Intake is 15 March 2026
- Application Deadline For Fall Intake is 15 June 2026
at IIT Chicago Admission 2025
To be eligible for admission to at IIT Chicago, applicants must meet specific academic and language requirements.
Academic Eligibility:
- Applicants should hold a bachelor’s degree, or its equivalent, from a recognized university.
- The cumulative undergraduate grade-point average of 3.0/4.0 or higher
- Students must be qualified in IELTS or TOEFL to get admission to this program.
- Students are required to have a background in undergraduate-level probability theory, multivariate calculus, and linear algebra. A background in ordinary differential equations will enhance the chance of admission to the program.
- Submission of GRE or GMAT score is not required for all master’s programs for 2021.
Indian Student Eligibility:
Indian students are eligible to apply if they meet one of the following eligibility criteria:
- Completed a 4-year UG degree with first class in a relevant field from a recognized institution.
- Completed a master’s degree with first-class in a relevant field from a recognized institution.
IIT Chicago Application Link
IIT Chicago Application Link; Apply Here
at IIT Chicago Admission Requirements
For admission to , IIT Chicago accepts IELTS, TOEFL, Duolingo exam. The average scores among admitted students are typically around: 6.5 in IELTS, 80 in TOEFL, 115 in Duolingo.
Fee Comparison
The fee comparison for similar programs like IIT Chicago are:
| University | Program | First Year Fees in USD | First Year Fees in INR |
|---|---|---|---|
| Illinois Institute of Technology | M.S Finance | USD 29,370 /Yr | INR 26.3 L/Yr |
| University of Illinois | MS Finance | USD 42,532 /Yr | INR 38 L/Yr |
| University of San Francisco | M.S/M.B.A Financial Analysis | USD 29,140 /Yr | INR 26.1 L/Yr |
| Lewis University | M.S Finance | USD 15,480 /Yr | INR 13.8 L/Yr |
| Northern Illinois University | M.S Finance | USD 38,370 /Yr | INR 34.3 L/Yr |
| Saint Xavier University | M.B.A Financial Fraud Examination and Management | USD 29,970 /Yr | INR 26.8 L/Yr |
| DePaul University | M.B.A Finance | USD 35,760 /Yr | INR 32 L/Yr |
Important Alert
- Last Day to Submit Financial Documentation for Fall intake - Jul 7, 2026
Tuition Fees
| Year | 1st Year Fees |
|---|---|
| Tuition Fees | ₹3094576 (USD 33318) |
Other Expenses
| Head | Avg Cost Per Year |
|---|---|
| Housing Cost | ₹1086696 (USD 11700) |
| Food | ₹436536 (USD 4700) |
Previous Year Tuition Fees
| Year | 1st Year Fees |
|---|---|
| 2024 | ₹4959792 (USD 53400) |
| 2023 | ₹2862190 (USD 30816) |
| 2021 | ₹3020086 (USD 32516) |
Important Dates
| Event | Application Date |
|---|---|
| Application Deadline For Summer Intake | |
| Last Day to Submit Financial Documentation for Summer intake | |
| Application Deadline For Fall Intake | Sep 1, 2025 - Jun 15, 2026 |
| Last Day to Submit Financial Documentation for Fall intake | Jul 7, 2026 |
| Application Deadline For Spring Intake | Jul 1, 2026 - Nov 15, 2026 |
| Last Day to Submit Financial Documentation for Spring intake | Dec 1, 2026 |
Scores Required
Required Document List
The followings documents are required:
- A two-page professional statement of goals and objectives, and a curriculum vitae, must be submitted.
- Two letters of recommendation are required, and at least one must be from academia.
- An interview may also be required.
- Typically, admitted students score at least 156 on the quantitative portion of the GRE and at least 3.0 on the analytical writing portion.
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Key Resources for Your Study Abroad Journey
Course Guides
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MBA in Finance in the USA: Top Colleges, Cost, Admission Requirements, Scholarships, Scope
MS in Finance in USA: Fees 2024, Top Colleges, Placements & Salaries
Career and Placement after Course
Master of Mathematical Finance alumni are employed by CME Group, Citigroup, Discover Financial Services, Envestnet, Goldman Sachs, Intercontinental Exchange, JPMorgan Chase & Co., Morgan Stanley, OCC, PrivateMetrics Group, and Quantitative Risk Management, Inc. (QRM).
- Quantitative trader
- Quantitative analyst
- Quantitative modeler
- Quantitative software developer
Scholarship Grants & Financial Aids
| Name | Scholarship Per Student | Level of Study | Type | |
|---|---|---|---|---|
| Bharat Petroleum Scholarship | Scholarship per studentVariable Amount | Level Of StudyMaster | TypeMerit-Based | |
| Comindware Scholarship | Scholarship per student₹ 3.7 L/Yr$4,000 | Level Of StudyApprenticeship | TypeMerit-Based | |
| Forktip Women’s- Innovation Scholarship | Scholarship per studentVariable Amount | Level Of StudyBachelor | TypeCollege-Specific | |
| FINCAD Women in Finance Scholarship | Scholarship per student₹ 18.6 L/Yr$20,000 | Level Of StudyMaster | TypeMerit-Based | |
| Jane M. Klausman Women in Business Scholarship | Scholarship per student₹ 4.6 L/Yr$5,000 | Level Of StudyBachelor | TypeMerit-Based | |
| Ritchie-Jennings Memorial Scholarship Program | Scholarship per student₹ 9.3 L/Yr$10,000 | Level Of StudyBachelor | TypeMerit-Based |
Similar Programs
| Program | Important Date | Total Fees | Median Exams Score | Action |
|---|---|---|---|---|
Application Deadline For Fall Intake (15th Jun 2026) Last Day to Submit Financial Documentation for Fall intake (7th Jul 2026) Application Deadline For Spring Intake (15th Nov 2026) Last Day to Submit Financial Documentation for Spring intake (1st Dec 2026) | INR 30.9 L/Yr USD 33,318 /Yr |
| ||
Application Deadline For Spring 2027 Intake (1st Sep 2026) | INR 39.5 L/Yr USD 42,532 /Yr |
| ||
-- | INR 27.1 L/Yr USD 29,140 /Yr |
| ||
-- | INR 14.4 L/Yr USD 15,480 /Yr |
| ||
-- | INR 35.6 L/Yr USD 38,370 /Yr |
|
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