Smith's Master of Finance program only admits students during the fall semester.

Learn more about: Financing Your Education | Tuition & Fees | Application Deadlines


The following are required to be considered for admission into the program:

  • The equivalent of a US bachelor's degree
  • Sufficient quantitative background — exposure to linear algebra and advanced statistics is highly recommended
  • GMAT or GRE
  • Transcript(s)
  • Letter of recommendation
  • Professional resume
  • Essay
  • TOEFL or IELTS — if you do not have a 4 year or advanced degree from a country where English is the official language


For TOEFL scores, contact to request an official copy of your TOEFL test score to be sent to the University of Maryland at College Park. Beginning August 2019, for the fall 2020 incoming class, we will accept the "My Best" TOEFL score from ETS. For IELTS, the University of Maryland downloads scores that have been transmitted to our e-download account. IELTS test takers should contact their IELTS test center directly to request electronic test scores be sent to the following IELTS e-download account:

University of Maryland — The Graduate School
The Graduate School
2123 Lee Building 
College Park, Maryland 20742-1815

Please note we cannot accept paper IELTS forms.

  TOEFL Minimum
Required Score
IELTS Minimum
Required Score
Overall 96 7
Speaking 22 6.5
Listening 24 7
Reading 26 7
Writing 24 7

PTE test takers can send their score reports to the University of Maryland through their Pearson account.

PTE Requirement: Total 68/Writing 68

Institutional Codes

  • TOEFL - institutional code is 5814
  • GRE - institutional code is 5814
  • GMAT - SQT - N8 - 16

Please visit our FAQ page if you have additional questions regarding the admissions requirements.

Application Deadlines

November 15, 2019

January 10, 2020 

February 15, 2020 

March 15, 2020

Applications received after March 15 will be reviewed on a rolling basis. 

Applications completed by these deadlines will be informed of a decision within eight weeks.

Financing Your Education

Several financial aid options exist for students wishing to pursue a specialty master's program at the Smith School. There are assistantship opportunities as well as federal and private loans.

Smith Specialty Master's Alumni

Students who successfully complete one specialty master's degree at the Smith School and who enroll in a second master's for fall 2020 will enjoy a $15,000 tuition reduction in their second specialty master's program!

High Performing Seniors

Students attending an accredited U.S. institution for undergraduate or master’s studies may apply for a GMAT/GRE waiver for Smith specialty master’s programs based on the following criteria:

An undergraduate or graduate degree with a minimum 3.5 GPA (on a 4.0 scale)


Evidence of quantitative coursework with B’s or better (statistics, calculus, linear algebra, etc.)

To apply for a GMAT/GRE waiver, please complete the high performing seniors application. You will be asked to upload a copy of your transcripts in the form.

Applicants will be notified within 10 business days as to whether their waiver has been approved. All inquiries can be directed to

Please note that waiver decisions are at the discretion of the admissions committee and that a waiver does not guarantee admission into the program.

Merit-Based Awards

There is no separate application for these awards — applicants to the Smith specialty master's program are automatically considered. The Smith School of Business awards scholarships based on scholastic merit, evidence of leadership, GMAT/GRE scores, etc. All applicants whose applications are complete by the priority admission deadline receive automatic consideration.


The Smith School of Business is fortunate to receive numerous applications from bright and talented graduates of the University System of Maryland, the District of Columbia metropolitan area and Big Ten institutions. Applicants who demonstrate notable academic achievements may be eligible for a half-time graduate assistantship or scholarship.

Graduate Assistantships

Financial assistance through college and university graduate assistantships are widely available to academically qualified students. Students awarded graduate assistantships receive a partial tuition waiver, a stipend for 180 hours of work per semester, and also pay the equivalent of in-state tuition rates. Assistantships offer students the opportunity to develop skills in a variety of areas including technology, communications, business research, teaching, small business counseling, and project management.

Specialty master's students not awarded graduate assistantships through the Smith school may apply for a graduate assistantship (GA) throughout the University of Maryland at College Park. GA positions are handled independently by each department throughout the university, therefore, students are encouraged to contact departments directly.

US Military Members and Veterans

The University of Maryland has a Veterans Program Office to assist military service members and veterans in their educational pursuits. Scholarship and VA benefits information can be found online. Find out more about the military at Smith.

Federal Student Loans

Students who are U.S. citizens or permanent residents may apply for federal student loans through the Office of Student Financial Aid by completing the Free Application for Federal Student Aid (FAFSA). The application is available online at; UMD-College Park's FAFSA code is 002103. After the FAFSA is received by the Office of Student Financial Aid, additional information specific to the individual student may be requested. When all application materials are received, federal loans are certified, and the student is notified. This notification process typically begins mid to late June. An application for aid has no bearing on the application for admittance to the program.

International Student Loan Options

International student loans not requiring a co-signer who is a U.S. citizen or U.S. permanent resident can be difficult to find. In order to assist international students, here is a sampling of possible loan options with more flexible co-signer requirements. 

Tuition & Fees

Tuition is billed per credit hour in the Master of Finance program and determined by your state of residence.

Estimated tuition & fees for the entire program
















Tuition: Based on $1,582 per credit hour for in-state and $2,098 per credit hour for out-of-state.

Fees: Based on a technology fee, MS Association fee and university fee per semester.

Tuition and fees are estimated for the fall 2020 academic year and are subject to approval by the University System of Maryland Board of Regents.

TERP Payment Plan

The best way to avoid lump-sum payments and cover the gap between financial aid and the cost of education without resorting to additional borrowing from alternative sources is to enroll in the interest-free TERP payment plan.

By enrolling in this plan, you can spread your payments over either eight or ten months. The annual enrollment fee is $50 for the ten-month plan or $80 for the eight-month plan. You can include most university charges: tuition, fees, and parking permits. You can also arrange to have your monthly payments debited directly from your checking or savings account.

In-State Classification

Applicants are granted in-state status if they have been domiciled in Maryland for at least 12 months prior to the last day of registration for the forthcoming semester, and have been financially independent for the previous 12 months. For a complete list of residency requirements, please contact Residency Reclassification Services.

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