How to Apply
Admissions Timeline | Fall 2026
The program focuses intensely on advanced mathematical and statistical methods. Graduates have sophisticated quantitative skills that enable them to apply their knowledge to the solution of real world financial problems as quantitative analysts, financial engineers, risk managers, traders, developers, and other roles in the financial industry. The Quant Program accepts applications for Fall term only.
| Dates | Information |
|---|---|
| Early September 2025 | Applications Open: Applicants may begin preparing and submitting their applications. Please note that no applications will be reviewed until after the submission deadline. |
| February 1, 2026 | Application Deadline: The final date to submit the Rackham Graduate School Application. |
| February 8, 2026 | Final Deadline for Test Scores and Letters of Recommendation (LOR): To guarantee consideration in the review process, please submit any outstanding test scores and letters of recommendation to quantfinms@umich.edu. (Test scores sent via email will be considered unofficial, and LORs must be sent from the recommender.) |
| Mid-March 2026 | First Round of Decisions Released: Initial admissions decisions will be communicated to applicants. |
| April 15, 2026 | Enrollment Deposit Due for First-Round Admits: For those admitted in the first round, the non-refundable enrollment deposit is $3,000 for domestic students and $5,000 for international students. |
| April through May 1, 2026 | Additional admissions decisions may be issued on a rolling basis during this period. Enrollment deposits are due by the date specified in the applicant’s admissions letter. |
| August 25, 2026 | The start date for Fall 2026 semester classes. |
Application Materials
To be considered complete and receive full consideration, your application should consist of the following:
1. Rackham Online Application. Applications are processed through Rackham Graduate School. For detailed information, visit the Rackham Graduate School website. Ensure you select the admissions application corresponding to your chosen option: either Quantitative Finance and Risk Management or the Accelerated Master’s Degree Program (available exclusively to current U-M undergraduate Mathematics majors; refer to the AMDP webpage for more information). The application fee is $90 for international students. U.S. citizens and permanent residents are eligible for a fee waiver and can request one by emailing quantfinms@umich.edu before submitting their application. Further details on application fees and waivers can be found on the Rackham Graduate School’s Application Fee and Waivers webpage.
The following materials comprise the Rackham Application:
- Statement of Purpose: The Statement of Purpose should be a concise, well-written essay about your mathematical background, your career goals, and how the Quantitative Finance and Risk Management program will help you meet your career and educational objectives.
- Personal Statement: This is different from the Statement of Purpose in that we ask that you write about things not captured by the application or the Statement of Purpose. Tell us about where you grew up, when you first decided you wanted to study quantitative finance, what challenges you faced and how you overcame them in your pursuit of your education and career.
- Resume: Upload your resume that describes your education, work experience, research experience, professional affiliations, volunteer activity and community engagement, honors and awards. Please limit your resume to 1 page.
- Three (3) Letters of Recommendation: Register your recommenders for the electronic Letters of Recommendation system in the online application. AMDP applicants need to only submit 2 letters of recommendation, though we recommend that both come from U-M faculty in Mathematics or Statistics.
2. Official GRE General Test scores: Request ETS to send official scores directly to the Rackham Graduate School at the University of Michigan. Applicants may submit multiple scores, but at least one score must be received by the designated deadline in order for an applicant to be considered. Our ETS school code is 1839. You do not need a department code. AMDP applicants are encouraged, but not required, to submit GRE scores.
3. Official Transcripts: Submit official transcripts from all post secondary institutions are submitted to the University of Michigan Rackham Graduate School. Directions on what qualifies as an official transcript and how to submit official transcripts can be found on the the Rackham Graduate School’s Transcripts webpage. We will consider your application complete and proceed with reviewing it using the unofficial transcripts uploaded with your application, but you cannot be admitted without official transcripts on file.
4. TOEFL or IELTS Scores (for non-native English speakers only): This requirement may be waived for some applicants depending on their educational background. Visit the the Rackham Graduate School’s Tests webpage to determine whether you qualify for a waiver. For Quant Program applicants, your overall TOEFL score must be 95 or higher. Your overall IELTS score must be 7 or higher. Current U-M students are automatically exempt from this requirement.
“My experience in the Quant Program was wonderful! The curriculum was designed to provide students with opportunities to develop problem-solving skills in mathematics, statistics, and finance. Since graduating, I’ve been able to apply the expertise I gained in my master’s degree to working on real banking risk management projects. I truly appreciate the enthusiasm that all of the faculty and staff demonstrate toward helping students in their coursework and job placement.”
– Fiona Yan Zhuang, M.S. ’16, Senior Quantitative Analyst at Capital One