Rotman School of Management, University of Toronto

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Financing Your MFin

The Rotman School strives to recruit the best candidates to its programs, and is committed to helping you afford your education by providing a broad range of financial options.

Entrance Awards

The Rotman MFin program grants Entrance Awards to a select group of students from the incoming class who demonstrate exceptional merit. Entrance awards average $5,000 to $20,000 and are paid when the program officially starts in September. These are presented along with the offer of admission to the program and no separate award application is required. You will be considered automatically for an entrance award when your application is reviewed for admission.

Four Women's Excellence entrance awards of $10,000 are available for applicants to the MFin program. As with other entrance awards, no additional application is required. Find out more about Rotman's commitment to supporting Women in Finance.

In-Course Scholarships

2016 Rotman Awards Recipients
View 2016/17 awards information

Ontario Graduate Scholarships

Jointly supported by the Ontario Government, the University of Toronto and donors to the Rotman School, these scholarships are intended to encourage and support academic excellence at the master’s and doctoral levels and are awarded to domestic students enrolled in full-time studies who have obtained a first class standing. An Ontario Graduate Scholarship at the Rotman School of Management is held for one year and valued at $10,000 to $15,000 per year, thanks to the generous support of our donors.

The Rotman School’s deadline for 2018-19 OGS applications is: For Canadian citizens or Permanent Residents: May 1, 2018.

Students interested in applying for an Ontario Graduate Scholarship should consult the School of Graduate Studies website for reference on eligibility, conditions and application forms.

Please note: University of Toronto Rotman School of Management Full-Time, Morning and Evening MBA as well as MFin programs are considered full-time, eligible programs.

Government Loans

The Master of Finance program is considered a full time program for working professionals, and as such, students are eligible for Canadian government loan programs.  Each provincial government in Canada administers and maintains a student financial aid program in cooperation with the federal government’s Canada Student Loan (CSL) program. When you apply to your provincial government for assistance, you are also automatically considered for a loan through the CSL. For more information, consult the Ontario Student Assistance Program (OSAP) website.

Lifelong Learning Plan (LLP)

The LLP allows individuals to withdraw amounts from their registered retirement savings plans (RRSPs) to finance their own education or that of their spouse/partner. Amounts withdrawn under the LLP do not count towards income and the RRSP issuer does not withhold taxes on these amounts. Withdrawals must be repaid over a period of no more than 10 years.

For more information, consult the Canada Revenue Agency website.

Registered Education Savings Plan (RESP)

An RESP is an education savings account that is registered with the Government of Canada for parents who want to save for their child's post-secondary education. Once the child (the RESP beneficiary) has graduated from high school and enrolled full-time or part-time in a qualifying post-secondary educational program, the Plan holder can request, on his or her behalf, to withdraw money from the RESP to help pay for their studies.

Educational Assistance Payments include the interest earned in the RESP as well as any Canada Education Savings Grants, provincial grants and Canada Learning Bonds received. The money can be used to pay for post-secondary school expenses like tuition, books and transportation. For more information, consult the Canada Revenue Agency website.

Teaching and Research Assistantships

A variety of teaching assistant positions are available through Rotman and through the Commerce and Finance departments. Students who have completed the first year of the MFin are eligible to apply for these positions, which will be posted prior to each term and/or academic year. A limited number of research assistant positions are also available through individual faculty members and are mostly available in a student’s second year.

Loan Programs and Interest Subsidies

Professional Student Loan Plan (PSLP) with BMO & RBC

All students (Canadian citizens, permanent residents and those on study visas) can access an interest subsidized loan to cover the full cost of their tuition and Rotman-specific incidental fees from the Bank of Montreal (BMO) or the Royal Bank of Canada (RBC). The Rotman School pays the interest incurred on this specialized student loan for the duration the student is enrolled in the MFin program up to June 30 of their graduating year.

Rotman Interest Subsidy Program (RISP)

Students who have obtained student or education loans from an officially recognized financial institution in Canada can enroll in the Rotman Interest Subsidy Program (RISP). The Rotman School may provide a subsidy for the interest incurred on a student loan for the duration the student is registered in the MFin program (e.g., the full 20-months from September 2017 to April 2019). The subsidy will be calculated based on the prime interest rate (in Canada) and a loan amount not to exceed the tuition and incidental fees of the MFin program.

Employer Fee Subsidy

Several Toronto area financial institutions and employers have indicated a willingness to sponsor a number of their employees for all or part of the MFin program fees. Applicants are strongly encouraged to approach their employers for financial support. The Rotman MFin program staff or faculty will provide any information or assistance an applicant might deem helpful in this regard.

Financial Aid for International Students

Professional Student Loan Plan with BMO & RBC

The Rotman School has partnered with Bank of Montreal (BMO) and the Royal Bank of Canada (RBC) to provide MFin students with the interest-subsidized PSLP, specifically tailored to help students meet the educational costs of the MFin degree. International students (those on a student visa) will be considered with a qualified Canadian resident co-signer or cash collateral.

International students can also be considered for a non-cosigned BMO loan for up to 100% of their program tuition fees with a Standby Letter of Credit issued from any BMO-approved bank in the student’s home country. With a Standby Letter of Credit, the bank in the student’s home country guarantees to pay the BMO loan amount should the student end up not re-paying it. The bank will then collect from the student the amount it pays to BMO.

The Rotman School pays the interest incurred on the BMO or RBC loan for the duration the student is enrolled in the MFin program.

Loan Assistance for Students from the United States

The United States provides financial assistance to U.S. citizens studying at the Rotman School through the USA Federal Direct Loan Program. Details and application instructions can be found on the University of Toronto’s Enrolment Services website.

Scholarships, loans and other funding opportunities may be available to you based on your country of residence. Click here to see a list.

Financial Options: Yearly Schedule

While dates are subject to change according to regulations and availability, the following is a typical schedule of different financial options for the Master of Finance program.

First Year

  • Entrance scholarships and fellowships awarded with offer of admission
  • September: First year of school term officially begins
  • September 1: BMO & RBC loans disbursed automatically
  • September 15: Canada Student Loans disbursed (first installment)
  • January 15: Canada Student Loans disbursed (second installment)
  • Late August: Teaching assistantships assigned

Second Year

  • September: Second year officially begins
  • September 1: BMO & RBC loans disbursed by student
  • September 15: Canada Student Loans disbursed (first installment)
  • January 15: Canada Student Loans disbursed (second installment)
  • Late August: Teaching assistantships assigned

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Professor Heather-Anne Irwin on the New Issue Syndicate

Professor Irwin teaches in the MFin program

Finance Professor John Hull on Sub-Prime Mortgages

John Hull is internationally renowned for his work on derivatives

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