University of Science and Technology of China

Welcome to the University of Maryland's Robert H. Smith School of Business. This page contains information and instructions specifically for students who are pursuing the dual USTC Master of Finance (MAF) and Smith Master of Finance (MFin) or Master of Quantitative Finance (MQF) program.

Admitted applicants should be ready to join the Smith program in College Park, Md., USA, in the fall term of their second year of the dual-degree, which begins late July/early August. 

Smith Contact Information and Online Application

We have established a special email address for you. If you have questions or need assistance with your Smith application, contact us at

Instructions for Submitting Your MFin/MQF Application

  1. Establish your online application account and start your application to the Smith MFin/MQF program.

  2. Send an email to the University of Maryland at so that your application fee can be waived and your unsubmitted application can be marked for this particular program. Remember to include your full name in the body of the email and use the following subject line: 
    Starting My USTC, Smith MFin / MQF Application Now

  3. Within approximately 3 business days, you will receive an email response to confirm your application fee has been waived and your application has been marked appropriately.

  4. After you receive the confirmation email from the University of Maryland, you may submit your application.

Application Requirements:

  • The equivalent of a U.S. bachelor's degree
  • Sufficient quantitative background (exposure to linear algebra and advanced statistics is highly recommended)
  • Transcript(s) and degree certificate(s)
  • Letter of recommendation
  • Professional resume
  • Essay
  • Official TOEFL or IELTS or PTE Report — required if you do not have a four-year or advanced degree from a country where English is the official language. Applicants who have not yet taken the TOEFL or IELTS or PTE exam should contact the Smith Admissions Office at to make them aware of when they plan to take the exam.

TOEFL or IELTS or PTE Scores

  TOEFL Minimum Required Score IELTS Minimum Required Score PTE Minimum Required Score
Overall 96 7 68
Speaking 22 6.5  
Listening 24 7  
Reading 26 7  
Writing 24 7  

TOEFL Institutional Code

The UMD Smith School of Business, institutional code is 5814.

Tuition and Fees

Admitted applicants from the dual program will pay the current rates in USD for tuition and fees as established by the Robert H. Smith School of Business. They will be able to transfer qualified course credits earned at USTC to fulfill the requirements for the MFIN or MQF program which will also help to lower tuition expenses.

Please check out general information about the Smith Master of Finance or Master of Quantitative Finance programs. Tuition expenses are located under the admissions tab.  

Note: Students are responsible for their own expenses pertaining to housing, books and supplies, food, transportation, personal items and incidentals. Tuition is subject to change. 

Frequently Asked Questions (FAQs)

What is the typical timeline for USTC-UMD dual-degree students?

Students will enroll first in the MAF program at USTC and will then enroll in the MFIN program or the MQF Program at UMD. USTC students who are accepted into the dual degree program will enroll at USTC in the Fall semester of the first year. They will then enroll in the MFIN or the MQF Program at UMD in the second year. Upon completing all requirements for the degree at UMD, students will return to USTC to complete the degree requirements.

Do students in the dual-degree program need to return to USTC right away?

No, students have up to five years to finish the degree requirement at USTC.

Will students be eligible for OPT following completion of a UMD degree?

Yes, under current law students should be eligible for OPT per regular rules on one-year residence in/completion of a UMD degree.

How many credits can students in the dual degree program transfer from USTC to UMD?

Up to 10 credits into the Master of Finance program and up to 12 credits into the Master of Quantitative Finance program. These credits will be counted toward the degree requirements of both institutions. The number of credits transferred will be determined on a case-by-case basis once the official transcript from USTC has been received and reviewed by the Graduate School and Office of the Registrar at UMD.  For more information regarding qualified transferred course credits, please email

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