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School of Mathematics Financial Mathematics |
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Tuition | ||
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Tuition for students enrolled in this program is simple: There will be
a specific per credit cost for any University of Minnesota course a
student takes, while enrolled in the MFM program. Financial
Mathematics courses are designated by an "FM", but the per credit
tuition cost applies to other UMN courses as well. For the 2007-8
academic year, the per credit cost was $500. For the 2008-9 year, we
proposed $600 per credit tuition. This is subject to approval by the
Board of Regents, but we do not anticipate any problems.
This $600 per credit rate applies to any UMN course taken by an MFM student, even one not in the MFM program. WARNING: Tuition is very low because this is a new program, but it may rise rapidly. So, if you plan to take two or more years to complete, please be aware that you could see an increase of $100 per credit per year between the 2007-8 year and the 2009-10 year, reaching $700 per credit. Between the 2009-10 year and the 2011-12 year, we plan an increase of $50 per credit per year, reaching $800 per credit. Even with that, however, we will very likely be among the most inexpensive programs available for at least the first five years. (We currently have a special deal worked out with the administration of our college that allows us to keep tuition low, but that deal will expire when the program becomes five years old.) WARNING: The $600 per credit rate is the rate for MFM students. It does not apply to students outside our program who enroll to take FM 5001/5002. In those cases, students pay the rate determined by their own program, or, if they are non-degree students, then they pay at the standard Graduate School rate. For a student who does not need to take the preparatory course sequence (FM 5001/5002), it is possible to complete the program in one year, taking exactly 30 credits. If all 30 credits are MFM courses taken in the 2007-2008 academic year, then the total cost in tuition would be $15,000, assuming $500 per credit. There is also the "University Fee"; for the current cost of that fee, please click here . Finally, there will also be additional fees, currently estimated at $700 per semester. NOTE: This $700 does not include the University Fee, which in 2007-8 is $500.00. So a reasonable estimate for total fees would be about $1,200 per semester. Allianz Life will be offering at least one one-year tuition fellowship next year, to be followed by a summer internship. All regular applicants to our program will be considered for this fellowship/internship. You do not need to do anything additionally to apply for it, and no materials outside of your regular application will be considered. For general information about financing
graduate school, here are three sources: Please be aware that this is a tuition-based professional program, and the Matheamtics Department does not offer Teaching Assistantships, Research Assistantships, Scholarships or Fellowships for students in this program. |
(612) 625-1306 mfmath@umn.edu 127 Vincent Hall 206 Church St. S.E. Minneapolis, MN 55455 USA |
The University of Minnesota is an equal opportunity educator and employer. © 2008, The Regents of the University of Minnesota |
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