Master of Science in Financial Engineering

Admission Requirements

The MS Financial Engineering Program will open for admissions on November 1st each year.  Admissions ends April 15 for the upcoming fall cohort.

 

Are you a current University of Illinois undergraduate student or recent graduate?  You can take advantage of our fast-track application!  Click here to read more about our UIUC Preferred Pathway application.

 

Prerequisites

  • Bachelor’s degree, or bachelor equivalent, typically in an engineering field, mathematics, physics, computer science, or economics
  • 1 year of Calculus
  • 1 semester of Linear Algebra
  • 1 semester of Probability and Statistics
  • 1 semester of Programming (preferably in C/C++)
  • TOEFL or IELTS for all applicants whose native language is not English (exemptions see here)
  • Knowledge of basic finance is helpful but not required

Additional Requirements

  • The GRE or GMAT is NOT required.  However, applicants may submit GRE/GMAT exam results as a supplement to the application.
  • Minimum grade point average:
    • Undergraduate: 3.25 (A=4.00) for last 60 hours of study
    • Graduate: 3.50 for any previous graduate work completed
  • Applicants whose degree is not from a country where English is the official language are required to provide one of the following:
Accepted Tests  Limited Status Admission Minimum  Full Status Admission Minimum 
TOEFL iBT 
TOEFL iBT Home Edition 		 4.0 (for scores dated after 1/20/2026)
79 (for scores dated prior to 1/21/2026)		 5.0 (for scores dated after 1/20/2026)
103 (for scores dated prior to 1/21/2026)
IELTS Academic Exam  6.5  7.5 
Duolingo  115  135 
  • Full English Proficiency Requirements are listed on The Graduate College website.
  • EPT Exemptions are available for approved countries as follows:

    • Illinois Graduate Admissions recognizes the following countries as having English as the primary language: Australia, Bahamas, Barbados, Belize, Botswana, Cameroon-Anglophone, Canada(excluding the Quebec Province), Dominica, Fiji, Gambia, Ghana, Granada, Guyana, Ireland, Jamaica, Kenya, Lesotho, Liberia, Malta, Malawi, Mauritius, New Zealand, Nigeria, Papua New Guinea, Philippines, Samoa, Scotland, Sierra Leone, Singapore, South Africa, St. Kitts, Swaziland, Tanzania, Trinidad & Tobago, Uganda, United Kingdom, United States*, Zambia, and Zimbabwe.

      *If your educational or professional work experience has primarily been within Guam, Puerto Rico, or the Northern Mariana Islands, you may be required to take the EPT.