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Master of Science in Applied Mathematics - Mathematical Finance (STEM)

Study Group - DePaul University

USA,Illinois

0 Shortlist

24 Months

Duration

CAD 19,464/year

Tuition Fee

CAD 75 FREE

Application Fee

Jun 2025

Apply Date

USA, Illinois

Type: University

Location Type: Urban

Founded: 1898

Total Students: 23,799 +

Campus Detail

Main Campus Address

2400 N Sheffield Ave, Chicago, IL 60614, United States

Overview
Key Facts
Fees & Funding
Admission Requirements
Scholarships
Student Visa
Work Permit

Master of Science in Applied Mathematics - Mathematical Finance (STEM)

Program Overview

The tools and methods of Applied Mathematics are in demand wherever quantitative analysis is used for strategic decision-making. The MS in Applied Mathematics gives you the expertise you need to use those tools and methods in business, industry or government.

Mathematical Finance Concentration
The Mathematical Finance concentration is a track for mathematically-inclined students who would like to pursue a quantitative career in Finance. The coursework focuses on the theoretical foundations of Finance as well as the concrete application of financial modeling, using sophisticated tools and techniques such as stochastic differential equations, copulas and extreme value theory. Students completing this concentration will be well-equipped to work as quantitative analysts.

Detailed Program Facts

Program Level

Master's Degree

Application Processing Days

42 Days

Program Intensity

Full-Time

Duration of Program

24 Months

Program Intakes

Intake Month/Year		Intake Status
jan 2025		Closed
mar 2025		Closed
jun 2024		Closed
jun 2025		Open
sep 2024		Closed
sep 2025		Open

Application Fee

Application Fee: CAD 75 FREE

Tuition Fee

CAD 19,464 per year

*Note: The fee is approximate and is subject to change

Living Cost in Study Group - DePaul University

CAD 12,000 per year

*Note: The fee is approximate and is subject to change

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

Check program website for more information about funding options.

English Test Requirements

IELTS
- Minimum Overall Score - 6.5
TOEFL
- Minimum Overall Score - 80 - 17 - With no score less than
DUOLINGO
- Minimum Overall Score - 115.0

Minimum Level of Education Required: To be accepted into this program, applicants must have a Bachelor's Degree.

Minimum CGPA Required: 70.00 %

Additional Information

Scholarships

University

Level

Program

Initial Scholarship Amount

Years 2-4 Scholarship

Provider

DePaul University

Undergraduate

Direct Admit

$15,000 to $31,000

DePaul

Transfer

$10,000 to $20,000

Adult Students

$10,000

Graduate

Direct Admit: College of Computing & Digital Media

Graduate Presidential Scholarship: $6,000 to $9.000
Specific degrees: Animation MS, Artificial Intelligence MS, Business Information Technology MS, Computer Science MS, Cybersecurity MS, Data Science MS, Digital Communication and Media Arts MA, Film and Television MS, Game Programming MS, Health Informatics MS, Human-Computer Interaction MS, Information Systems MS, Software Engineering MS
3.0 cumulative GPA or higher to be considered.
No need for a separate application. The scholarship is awarded at admission. This
merit-based scholarship cannot be combined with any other institutional aid. (details)

Selected students will be awarded from
$6,000 to $9,000 over six consecutive terms. Students must be enrolled full- time for disbursement.

Direct Admit: Kellstadt Graduate School of Business

$6,000 to $7,800: Kellstadt Dean’s Scholarship Amount depends on GPA (2.0 and above)
2.0 to 2.69 GPA: $500 per course (up to $6,000 total scholarship)
2.7 and above GPA: $650 per course (up to $7,800 total scholarship) (details)

One-time award for up to 12 courses, with a scholarship awarded per course

College of Liberal Arts and Sciences

$12,000: Sustainable Urban Development MS only; based on academic achievement; one-time award; no minimum GPA required.

One-time award

College of Science and Health

$12,000: Applied Mathematics MS, Applied Statistics MS, Chemistry MS, and
Environmental Science MS only; based on academic achievement; one-time
award; no minimum GPA required.

One-time award

Work Permit

PGWP

Optional Practical Training or OPT is a period during which students, who have completed their degrees in the USA, are permitted to work for one year on a student visa by the United States Citizenship and Immigration Services (USCIS). OPT allows students to work for up to 3 years and develop real-world skills to survive in the competitive jobs market.

It is temporary employment for a period of 12-months that is directly related to the major area of study of an F-1 student. Eligible students have the option to apply for OPT employment authorization before completing their academic studies and/or after completing their academic studies.

A student can participate in three types of Optional Practical Training (OPT):

Pre-Completion OPT: This is temporary employment provided to F-1 students before completion of their course of study.
Post-Completion OPT: This is temporary employment available to F-1 students after completing their course of study.
24 Month STEM Extension: Students enrolled in STEM (Science, Technology, Engineering, and Mathematics) courses can a 24-month extension after their initial Post-Completion OPT authorization.