Financial Assistance

Financial aid is available to highly qualified applicants via scholarships and/or graduate assistantships. Financial aid decisions for the following academic year are made during the previous spring.

Application Form

Application Information

Graduate Accountancy majors who will begin the MAS program in Summer or Fall should apply for scholarships the preceding spring semester

    • Applications for scholarships are due February 1
    • The scholarship application will be available December 8
    • If you have any questions, please contact the PricewaterhouseCoopers Accountancy Student Center at 217-333-5030


The Department of Accountancy scholarship program falls into one of three categories. Each category provides funding to graduates (current seniors who will be in the MAS program the subsequent year).

    • Academic merit
    • A combination of academic merit and financial need
    • Achievement of student body diversity objectives (The Department defines broadly its student body diversity objectives. See the Accountancy Diversity Scholarship section of this website for more details.)

Graduate Assistantships

The Department awards graduate assistantships to meritorious students in the MAS program. These assistantships, in exchange for 10 or 13 hours of work per week, provide a stipend and a partial tuition waiver.  Applicants whose native language is not English and who wish to be considered for a department assistantship must obtain a TOEFL Speak score of 26 or better or an IELTS Speak score of 8 or better.  Assistantship decisions are based on academic performance in Accountancy and other university courses as well as leadership qualities.  Initial appointments are for the Fall semester only.  A Fall semester appointment does not guarantee a Spring semester appointment.  Appointments for the Spring semester are based on the same criteria as the initial appointments plus performance as an assistant in the Fall semester, availability of assistantship positions, and, in some cases, familiarity with or specialized training for a specific course.  There are roughly one-third fewer assistantship positions in the Spring semester.

Diversity Fellowships

The Department of Accountancy is one of the world’s leading institutions of accountancy education. The Department seeks students who individually and collectively are among the most capable in the nation and who offer substantial promise for success in graduate studies and in the practice of accountancy. The Department seeks a mix of students with varying backgrounds and experiences. We seek to achieve a student class diversity that has the potential to enrich everyone’s education and thus make the accountancy student class greater than the sum of its parts.

The Accountancy Diversity Fellowship program seeks to provide financial support to students who will further the Department’s diversity objectives. The award consists of a full tuition waiver plus a $10,000 stipend. The Department considers many factors, both individually and holistically, in awarding Accountancy Diversity Fellowships, including:

Depending upon the individual, many diversity factors may be relevant. Some examples include ethnicity, cultural heritage, recent immigration and citizenship (i.e., whether you are a first or second generation US citizen), educational attainment of parents and grandparents (i.e., whether you are a first generation college student), significant life experiences and challenges, special talents, and community service.

    • Undergraduate grade point average, both cumulative and for the accountancy curriculum
    • Information in the Accountancy Scholarship application
    • Personal statement that indicates the ways in which your talents and experiences will contribute to the Accountancy/Business graduate student body at the University of Illinois at Urbana-Champaign. You may illustrate with examples of your contributions to the diversity of your undergraduate student body
    • At least two letters of recommendation
    • Financial need

External Funding Opportunities

Outside agencies have a variety of application deadlines.

American Society of Women Accountants (ASWA) – Margaret Keldie Scholarship  *Application*
Insurance Accounting & Systems Association, Inc

Scholarships offered through the Illinois CPA Society:

Illinois CPA Society Accounting Scholarships
Women’s Executive Committee’s Advancing Women in Accounting Scholarships
Herman J. Neal Scholarships
Book Scholarships
CPA Exam Awards