MIT Master of Finance Fees, Eligibility, Admission & Deadlines

Cambridge, MassachusettsUniversity Private (Not for Profit) College

The Master of Finance program positions students for premier career opportunities through our global reputation, world-renowned faculty, and a rigorous, hands-on approach to adaptive problem-solving.
The MFin program degree is completed in 18 months with the option to accelerate the degree requirements and complete it in 12 months.

Important Dates

Event	End Date
Final Decision Deadline	Mar 10, 2023

Fees & Funding

Tution & Application Fees

One time fees	One time fees 1
Tuition Fees	₹9818321
Total Fees	₹9818321

Living Costs

Head	Avg Cost Per Year
Housing	₹2287764
Transportation	₹326006.37
Food	₹658726.83

Eligibility & Entry Requirement

Academic Eligibility:

The students must have a bachelor’s degree (3 or 4 years) in any of the respective fields to apply for this program.
The average GPA of the students in this program is 3.9 on a 5.0 scale.
Students can apply with any bachelor’s degree but the majority of the students come from these fields like Computer Science, Economics, Engineering (variety), Finance, Management, Math, Operations Research, Statistic, etc.

Work Experience:

Work experience is not required but many of the students have an average experience of 15 months.

Language Requirments:

The students whose official language is not English are required to write IELTS or TOEFL exams before applying.
The TOEFL cut-off for this program is 90 out of 120.
GMAT Score is accepted in the range between 700-770.

Language Requirement Exemption:

Students who have received instruction in English in their primary and secondary schools and students who have been in the United States for four years or longer and have received a degree from an American institution.

Exam Requirments:

The students must compulsorily have to submit the scores of any one of the exams like GMAT or GRE.
MIT recommends that applicants interview with a member of the MIT Educational Council if available. Council members are MIT graduates who have volunteered to interview on behalf of the Office of Admissions.

Scores Required

7 / 9

Avg. Score in

IELTS

100 / 120

Avg. Score in

TOEFL

320 / 340

Avg. Score in

GRE updated

3.9 / 5

Minimum gpa

GPA

Required Document List

Online Application: Students have to submit an online application form at the official website.
Application Fee: Students need to submit their application fees.
Statement of Purpose: Reasons or intentions for pursuing studies in this program, including a description of prior experience.
Letters of Recommendation: Three letters of recommendation are required.
Official GRE Test Scores: Students have to submit their GRE Test Scores.
ELP Scores: Students have to submit their English language proficiency scores like IELTS, TOEFL, or other test scores.

Course Guides

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VISA & Work Study

VISA

The students can opt for any one of the two visas namely F1 Visa, J1 Visa.

Individuals on any other non-immigrant visa will be unable to register in a program of studies at MIT.

F1 Visa:

This option is normally used by those who enroll as full-time students at an approved educational institution.
It is obtained by presenting Form I-20 to a US consulate or embassy and submitting an application for an F-1 visa.
F-1 students are expected to attend the school that issued the Form I-20 and to maintain a full course of study while in the United States.
Students whose studies are funded by their families or other private sponsors are normally issued the Form I-20.
Upon arrival in the United States, students will be granted permission to remain in this country for the period of time required to complete their programs of study.

J1 Visa:

This is also known as J1 Exchange Visitor Visa.
This visa may be used by those who come to study or conduct research as participants in an Exchange Visitor program. Students must be substantially (more than 51 percent) funded by their home government, educational institutions, international or national organizations, private companies, etc., be eligible for a J-1 visa.
Students on personal/family funds are not eligible for J-1 status; they must apply for F-1 status.
The J-1 visa is obtained by presenting to the American Consul form DS-2019 (Certificate of Eligibility).
When students accept funding from the Fulbright or any other agency of the US government or their own governments (even though it may be only a travel grant), this status carries with it a “two-year home country residency requirement,” which obliges students to return to their home countries for two years before they can apply for permanent residency or change to an H or L visa. In addition, this restriction applies to students from certain countries that have registered a list of needed skills with the United States government.
Students intending to use the J-1 visa to enter the United States should ask the US Consul in their home country whether or not they will be subject to the two-year home residency requirement.
J-1 students will be allowed to remain in the country for the period of time indicated on their DS-2019. This time may be extended, so long as they are pursuing a full course of study on authorized academic training.

Work Study

Any student can get an on-campus job. Student minimum wage is $12.75 an hour with most students making about $1,700 a semester.

International students are limited to working 20 hours per week due to student visa guidelines.

Per federal regulations, students participating in a federal work-study program are not permitted to miss class time in order to perform their federal work-study duties.

Some of the available job types are :

Research Jobs
Part-time or Seasonal Jobs
Public Service Jobs
Research and Teaching Assistantship
Community service work-study program.

Scholarship Grants & Financial Aids

Name	Amount	International Students Eligible	Application Deadline
BrokerFish International student scholarship	₹82890	Yes	N/A
Debesh Kamal Scholarship	₹114802.65	Yes	N/A
Hani Zeini Scholarship	₹82890	Yes	N/A
Ritchie-Jennings Memorial Scholarship Program	Variable	Yes	Feb 6, 2023