MMF is a self-funded, full cost-recovery professional Program. Financial aid is not available to students. For the 2025-2026 academic year tuition is $60,288.00 (Canadian). In addition, incidental fees are $2,141.53 (Canadian).
The application window for entry into the MMF Program beginning Fall 2026 will open on October 1 2025 with an application deadline of December 14 2025.
If you are interested in joining the MMF Program in the future, read this page for more information on MMF’s application criteria, and be sure to follow MMF on LinkedIn, YouTube, Instagram, Twitter, Facebook, and Spotify for more updates throughout the year.
Listen to last year’s virtual Information Session for interested applicants to MMF Program on Spotify here.
To be considered for admission to the MMF Program, you must meet the following minimum requirements:
You must have completed a bachelor’s degree in a quantitative or technical discipline from a recognized university with a minimum GPA equivalent to a University of Toronto mid-B (75%) in the last two years of senior level courses. Use the International Degree Equivalencies Tool to see which international credentials are required for admission to MMF.
Evidence of proven ability in areas such as linear algebra, multivariable calculus, differential equations, real analysis, at least one undergraduate course in statistics that covers topics such as confidence testing, applied multivariate analysis, time series analysis and basic regression are essential. A knowledge of economics and finance is helpful to understand the context of applied mathematics as it applies to finance. The ability to use programming languages such as MATLAB; C++; R and Python are required. The ability to adapt to the technical needs of the discipline is a skill that all quants must have.
Work experience is not a requirement for admission but in a highly competitive field, the demonstration of past work experience will make you more attractive to prospective employers.
If you are a first-time applicant, Create an Account to begin your application. You will receive a verification code via email as part of the account creation process. After entering your verification code, you will create a password for your account. You may save and return to the application at any point in the process. To view the status of your application, including outstanding requirements, log in to your account to view your applicant status portal.
MMF is a self-funded, full cost-recovery professional Program. Financial aid is not available to students. For the 2025-2026 academic year tuition is $60,288.00 (Canadian). In addition, incidental fees are $2,141.53 (Canadian).
Please follow all application instructions carefully. A complete application consists of the following:
The Application Form
The application form and all supporting documents must be submitted on-line though the application portal. In addition, you must pay the application fee ($240.00 Canadian) in order for your application to be considered. The application fee must be paid by the deadline of December 14 2025. No application will be considered if either a supporting document or the application fee is received after the deadline. Please note that application fees are non-refundable.
The Application Essay
Provide your written response to the following to complete your Application Essay:
Describe your motivation for pursuing a master’s degree in Mathematical Finance.
How will your previous academic and/or professional experience help you succeed in the Mathematical Finance Program?
Describe your post-graduate career goals and 5 year career plan.
Electronic Transcripts
Provide transcripts from all post secondary institutions attended whether or not a degree was obtained. All transcripts must be uploaded to the application portal. Please note that certificates are not considered academic degrees and should not be uploaded in this section. You may note any certificates or professional designations on your CV.
Letters of Reference
Referees should be Professors or Supervisors. You will be required to enter information for 2 referees. Your referees will automatically receive a notification email that they have been requested to complete a reference for your application, along with instructions to submit their reference letter in the application system. If you need to change your referees, please get in touch with the Graduate Office. If you need to send a reminder email to your existing referees, you can do so through your applicant portal after submitting your application.
CV
This should be a current outline of your academic and professional accomplishments. Areas that should be listed are your education, work experience, professional certifications or designations, publications and other honours if applicable.
Test of English as a Second Language
International applicants may be required to submit a recognized test of English as a Second Language. Scores must be submitted at the time of application. Your application will not be considered unless you have successfully met this requirement.
The Application Deadline (Application, Paid Application Fee, and ALL Supporting Documents) for the 2026-2027 school year is:
December 14, 2025 at 11:59pm ET
January 2026:
Review of Applications
February 2026:
Interviews for selected applicants begin
March 2026:
Decision Notifications begin
April 2026:
Decision Notifications close
For detailed information on the MMF Program’s courses and curriculum, click here.
We wish to acknowledge this land on which the University of Toronto operates. For thousands of years it has been the traditional land of the Huron-Wendat, the Seneca, and the Mississaugas of the Credit. Today, this meeting place is still the home to many Indigenous people from across Turtle Island and we are grateful to have the opportunity to work on this land.