Fees, Funding, and Scholarships

Tuition and Fees

The tuition and program fee for the MSF program for 2011 - 2012 totals $42,769 for summer, fall and spring term. In addition students are charged University fees each semester to cover such things as health insurance, health services, facilities fees etc. bringing the annual total to approximately $47,921. Some University fees are refundable. A breakdown of the tuition and fees charged by semester can be found at MSF fees

International applicants are required to provide verification of financial resources for all MSF program costs, as well as anticipated living expenses and books and supplies. This amount is approximately $17,600 of additional expenses. More information may be found under 'Evidence of Financial Support'. Program tuition and fees are set annually by the University Board of Trustees. Tuition and fees for 2012 - 2013 have not yet been released.

Students receive a tuition bill online shortly after the start of each semester. Complete information about billing, payments, refunds and sponsored billing can be found at University Student Financial Services and Cashier Operations USFSCO


  • GMAC.com – Loans for MBA (and MSF) programs
  • Citibank Student Loans (a leading student loan provider)
  • Federal Student Loan Program - Contact the U of I Financial Aid Office
  • IVG – Illinois Veterans Grant – contact the MSF Office.
  • Sallie Mae Signature Student Loan (loans to both international and domestic students) The Signature Student Loan is offered by Sallie Mae and allows students to borrow the cost of their education less any other financial aid provided. Students have up to 15 years to repay the loan. International students must apply with a credit-worthy U.S. citizen as co-signor.


The MSF program offers a limited number of scholarships to program participants. Scholarship allocations are made with particular emphasis on recruiting high caliber students from diverse backgrounds. Students that wish to be considered for scholarships must complete the Financial Aid section of their online applications. Decisions regarding scholarship awards will be made after March 15th.

New – Scholarships available for Illinois residents!

The MSF program offers a limited number of tuition remission scholarships (up to a maximum of approximately $10,000 per year) to qualified Illinois residents who add to the academic quality of the program and diversity of the student body. These tuition remission scholarships are not limited to traditionally underrepresented populations.

Research and Teaching Assistantships

RA and TA positions in the Finance department are reserved for students in the PhD program. Other departments on campus may seek to hire students for such positions. This is a decentralized process on campus and students seeking such positions must contact individual departments directly. It should be noted that the MSF program does not honor tuition waivers requested by other departments. Therefore any students offered an RA or TA position from another department should negotiate a salary in lieu of a tuition waiver.


© Copyright 2007 Department of Finance, University of Illinois