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Admissions
Thank you for your interest in the Master of Science in Financial Engineering programme at Nanyang Business School.
The application for the July 2023 intake will start in September 2022.
Applicants who wish to apply to the MSc Financial Engineering are required to meet the minimum admission requirements below:
Admission Requirements
- A good undergraduate degree in applied mathematics, applied science, statistics, computer science, engineering, economics, or other quantitative fields. We will also consider applicants from other disciplines.
- A good GMAT or GRE score.* We accept both GMAT or GRE test. For GRE, please take the General Test. GMAT/GRE must be taken within the last five years at the time of submitting your application.
- TOEFL/IELTS for applicants whose first degree was taught in a language other than English
- Work experience is preferred but not required
The institutional code for the following tests are:
- GMAT: V24-ZV-17
- GRE: 3123
- TOEFL: 9705
Application Deadlines:
Round 1: 15 November 2022
Round 2: 28 February 2023
To know more about our tuition fees and the various scholarships and grants available, do refer to our tuition fees and financing section.
Preparatory Course
Finally, there are preparatory courses in mathematics, finance, and programming available for you to refresh your knowledge before the programme starts. Please note that the Mathematics Preparatory Course is compulsory, while the other two courses are optional.
Students are also required to complete the programme within the stipulated period:
| Minimum Candidature | |
|---|---|
| Full-Time | 12 months (3 trimesters or 6 mini terms) |
| Part-Time | 24 months (6 trimesters or 12 mini terms) |
| Maximum Candidature | |
|---|---|
| Full-Time | 24 months (6 trimesters or 12 mini terms) |
| Part-Time | 48 months (12 trimesters or 24 mini terms) |
Direct Admission To MFE For SPMS Students
Under a special co-operation with the School of Physical and Mathematical Sciences (SPMS) at Nanyang Technological University (NTU), students in Year 3 or 4 enrolled in MATH, MAFI, MACS, MAEO, MADA, PHMS or MAEC with very good academic results, are
invited to apply for the direct admission to NTU’s Master of Science in Financial Engineering programme.
Interested students, please contact the Division of Mathematical Sciences or click here.
SPMS students in their graduating year may choose to submit their application through the Mathematical
Sciences Division (for the direct admission programme) or directly through the NBS website by the end of February.
Application Process
Candidates must meet our Admission Requirements in order to join the MSc Financial Engineering. Only completed applications will be assessed. An application is considered complete if we have received all supporting documents, information and application fee.
Get Started In 6 Simple Steps
Apply for the programme via our online application system. You may also login to the system to check your application status after submission. Your application should demonstrate strong intellectual capability, solid career progression, professional achievements and leadership qualities/potential. The essay questions are compulsory and you should articulate your thoughts clearly, using good judgement with respect to the word limit.
No separate application for scholarships is required – simply tick on the box relating to the scholarship you are applying for in the online application form and complete the essay for scholarship consideration.
Fill in the application form and upload the following supporting documents:
CV or Resume
Concise document no more than 3 pages, briefly describing your responsibilities and accomplishments.
Educational Documents
Degree scroll/certificate(s) and academic
transcripts of each university attended (official English translation is required for non-English certificates and transcripts)
Passport Photo
Coloured photo (taken within the last 3 months) in
hi-resolution jpeg format.
GMAT or GRE Report
You may upload your unofficial or test taker
copy, if you do not have your official test scores on hand. Please arrange to have your official test scores sent to Nanyang Business School. Our GMAT institution code is V24-ZV-17 and our GRE ID code is 3123.
Applicants who have yet to take the GMAT/EA and TOEFL/IELTS may still proceed to submit their application and indicate the test dates in the online application form.
TOEFL or IELTS score report
Applicants are required to take the TOEFL or IELTS if English was not the medium of instruction used at the tertiary level.
Referee Reports
Applicants are required to nominate two referees
in the online application form. Upon nomination, an online referee report form will be sent to them for their completion.
Professional Membership Certificates, if any
Upon submitting your application, you will be required to pay an application fee of S$100 via VISA or Mastercard. If you are unable to pay via VISA or Mastercard, please issue a cheque payable to “Nanyang Technological University” (indicate your full name and address on the reverse).
After assessment of your application is completed, we will shortlist candidates for the interview. The interview is by invitation only and you will be informed via e-mail if you have been shortlisted.
The announcement of shortlisted candidates will be made after the deadline of the application round and is not a one-time exercise – subsequent announcements will also be made as warranted. In some instances, your interview may occur even during the round itself.
Candidates who have completed the interview will move to the final selection stage whereby the Admissions Committee will meet for deliberation and candidates for admission are selected. Accepted candidates will be notified via an e-mail from the Admissions Office.
Please note that only successful candidates will be notified. Applicants are advised to check the online application system for their application status. We are unable to confirm or release information via phone.
Should you receive an admission offer via email, you are required to complete the acceptance of the offer within the stipulated time or the offer will lapse automatically. The acceptance must be accompanied by a non-refundable enrolment fee of S$20,000 (exclusive of GST) which is deductible from the total tuition fees payable.
Fees
The tuition fee for intake Year 2023 (applicable for both full-time and part-time courses) is as follows:
| Fees | |
|---|---|
| Application Fee | S$100 |
| Enrolment Fee | S$21,600 (*inclusive of GST, non-refundable and payable upon acceptance of the offer of admission) |
| Tuition Fee | Non-CMU track (Full-Time) S$57,920.51 (inclusive of GST and S$21,600 enrolment fee) |
| Non-CMU track (Part-Time) S$57,966.70 (inclusive of GST and S$21,600 enrolment fee) | |
| CMU track (Full-Time) S$63,250.51 (inclusive of GST and S$21,600 enrolment fee) | |
| CMU track (Part-Time) S$63,319.04 (inclusive of GST and S$21,600 enrolment fee) | |
| Student Service Fee** | S$386.40 |
| Health Service Fee | S$145.80 |
* This amount is calculated based on the current Singapore GST rate of 8% and will be revised from 1 January 2024, due to the adjustment of GST to 9% in 2024.
** Student Service Fee (Subject to changes) include fees for Registration, Exam, Amenities and Sports (full-time students only), IT Facilities, Smart Card, and Copyright.
*** Travel and living expenses (estimated to be S$6,500 and S$8,500) [subject to changes] for the term in Carnegie Mellon University (CMU), USA, will be fully borne by participants.
**** Tuition fees are subject to review every year. Students in the part-time programme will be affected by fee revisions (if any) in their second year.
Tuition Fees Are Payable On A Trimester Basis
Fees for full-time study are payable in instalments over three trimesters.
Fees for part-time study are payable in instalments over six trimesters.
Tuition fees are subject
to review every year. Students in the Part-time programme will be affected by fee revisions (if any) in their second year. Existing students may check your fees at the University's Graduate Admissions website here.
Other Fees
These are additional miscellaneous fees payable at the time of registration and after registration. Please click here to go to the Office of Academic Service's website for the latest details.
The Tuition Fee is to be paid only upon receipt of the bill from the Office of Finance. The bill will be sent to candidates
after they have registered formally with the University. The above fees will also be included in the bill.
Candidates who withdraw from the programme within the first two weeks of the first semester shall not be liable for the Tuition
Fee, Examination Fee, Amenities Fee and Copyright Fee. Candidates who withdraw from the programme after the second week shall be liable for payment of Tuition Fee, Examination Fee, Amenities Fee and Copyright Fee due for the entire term.
Billing Enquiries
Bills will be sent by the Office of Finance. Students are encouraged to pay fees through GIRO.
Fee Schedule (Non-CMU Track) (Full-Time)
| Enrolment Fee (S$) | 1st Instalment (Aug 2023)(S$) | 2nd Instalment (Nov 2023)(S$) | 3rd Instalment (Mar 2024)(S$) | Total (S$) | |
| Tuition Fee | 20,000.00 | 4,333.33 | 14.333.33 | 14,333.34 | 53,000.00 |
| GST* | 1,600.00 | 346.67 | 1,146.67 | 1,290.00 | 4,383.34 |
| Total Tuition Fee | 21,600.00 | 4,680.00 | 15,480.00 | 15,623.34 | 57,383.34 |
| Miscellaneous Fee (Inclusive of GST)** | 537.17 | 537.17 | |||
| Total | 21,600.00 | 5,217.17 | 15,480.00 | 15,623.34 | 57,920.51 |
The enrolment fee is payable upon acceptance of offer and is non-refundable. It will be deductible from the full tuition fee.
* This amount is calculated based on the current Singapore GST rate of 8% and will be revised from 1 January 2024, due to the adjustment of GST to 9% in 2024.
** A one-time miscellaneous fee of $537.17 will be billed in the first trimester and payable with the trimester tuition fee. This fee is subject to revision at the discretion of the University.
Fee Schedule (Non-CMU track) (Part-Time)
| Enrolment Fee (S$) | 1st Instalment (Aug 2023)(S$) | 2nd Instalment (Nov 2023)(S$) | 3rd Instalment (Mar 2024)(S$) | 4th Instalment (Aug 2024)(S$) | 5th Instalment (Nov 2024)(S$) | 6th Instalment (Mar 2025)(S$) | Total (S$) |
| Tuition Fee | 20,000.00 | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 5,500.00 | 53,000.00 |
| GST* | 1,600.00 | 440.00 | 440.00 | 495.00 | 495.00 | 495.00 | 495.00 | 4,460.00 |
| Total Tuition Fee | 21,600.00 | 5,940.00 | 5,940.00 | 5,995.00 | 5,995.00 | 5,995.00 | 5,995.00 | 57,460.00 |
| Miscellaneous Fee (Inclusive of GST)** | 253.35 | 253.35 | 506.70 | |||||
| Total | 21,600.00 | 6,193.35 | 5,940.00 | 5,995.00 | 6,248.35 | 5,995.00 | 5,995.00 | 57,966.70 |
The enrolment fee is payable upon acceptance of offer and is non-refundable. It will be deductible from the full tuition fee.
* This amount is calculated based on the current Singapore GST rate of 8% and will be revised from 1 January 2024, due to the adjustment of GST to 9% in 2024.
** A two-time miscellaneous fee of $253.35 will be billed in the first and fourth instalment of each trimester tuition fee payable. This fee is subject to revision at the discretion of the University.
Fee Schedule (CMU Track) (Full-Time)
| Enrolment Fee (S$) | 1st Instalment (Aug 2023)(S$) | 2nd Instalment (Nov 2023)(S$) | 3rd Instalment (Mar 2024)(S$) | Total (S$) | |
| Tuition Fee | 20,000.00 | 6,333.33 | 16.333.33 | 16,333.34 | 59,000.00 |
| GST* | 1,600.00 | 506.67 | 1,306.67 | 3,00.00 | 3,713.34 |
| Total Tuition Fee | 21,600.00 | 6,840.00 | 17,640.00 | 16,633.34 | 62,713.34 |
| Miscellaneous Fee (Inclusive of GST)** | 537.17 | 537.17 | |||
| Total | 21,600.00 | 7,377.17 | 17,640.00 | 16,633.34 | 63,250.51 |
The enrolment fee is payable upon acceptance of offer and is non-refundable. It will be deductible from the full tuition fee.
* This amount is calculated based on the current Singapore GST rate of 8% and will be revised from 1 January 2024, due to the adjustment of GST to 9% in 2024.
** A one-time miscellaneous fee of $537.17 will be billed in the first trimester and payable with the trimester tuition fee. This fee is subject to revision at the discretion of the University.
Fee Schedule (CMU Track) (Part-Time)
| Enrolment Fee (S$) | 1st Instalment (Aug 2023)(S$) | 2nd Instalment (Nov 2023)(S$) | 3rd Instalment (Mar 2024)(S$) | 4th Instalment (Aug 2024)(S$) | 5th Instalment (Nov 2024)(S$) | 6th Instalment (Mar 2025)(S$) | Total (S$) | |
| Tuition Fee | 20,000.00 | 6,500.00 | 6,500.00 | 6,500.00 | 6,500.00 | 6,500.00 | 6,500.00 | 59,000.00 |
| GST* | 1,600.00 | 520.00 | 520.00 | 585.00 | 585.00 | 0 | 0 | 3,810.00 |
| Total Tuition Fee | 21,600.00 | 7,020.00 | 7,020.00 | 7,085.00 | 7,085.00 | 6,500.00 | 6,500.00 | 62,810.00 |
| Miscellaneous Fee (Inclusive of GST)** | 253.35 | 253.35 | 506.70 | |||||
| Total | 21,600.00 | 7,273.35 | 7,020.00 | 7,085.00 | 7,340.69 | 6,500.00 | 6,500.00 | 63,319.04 |
The enrolment fee is payable upon acceptance of offer and is non-refundable. It will be deductible from the full tuition fee.
* This amount is calculated based on the current Singapore GST rate of 8% and will be revised from 1 January 2024, due to the adjustment of GST to 9% in 2024.
** A two-time miscellaneous fee of $253.35 will be billed in the first and fourth instalment of each trimester tuition fee payable. This fee is subject to revision at the discretion of the University.
Scholarships
MSc Financial Engineering Merit Scholarship
NBS offers partial scholarships to stellar candidates, on a competitive basis. Only applicants who have been offered a place in MSc Financial Engineering programme are eligible for the scholarships. The partial scholarship will go towards
off-setting the fees of the programme, and does not cover the living expenses in Singapore, travel and accommodation.
Eligibility Criteria
- Possess excellent academic credentials
- Performed well in the admission interview
- Granted admission to the MSc Financial Engineering programme
How to Apply
- Please complete the scholarship part of the online application, including the scholarship essay.
- Applicants who wish to be considered for the scholarship should ensure that their scholarship applications are completed (including submission of all supporting documents) by final deadline.
- Scholarship application will only be considered when it is submitted together with the application.
ASEAN Development Scholarship
This partial scholarship is awarded to nationals of ASEAN member countries (excluding Singapore) as part of NBS’s effort to accelerate economic and social progress in the Member States of ASEAN. Each scholarship quantum is at 40% of the tuition fee.
Scholarship applicants must possess strong academic records, demonstrated leadership qualities and potential, and for working professionals, a strong career progression. A complete online application including the scholarship section, and required supporting documents must be submitted by the first round application deadline to be eligible for the ASEAN Development Scholarship.
Funding
NTU Alumni Grant
NTU alumni who have completed a bachelor’s or post-graduate degree at NTU are eligible for an alumni grant of 10% of the tuition fees. The subsidy can only be used to offset the tuition fee and cannot be used to offset other costs such as student service fees or miscellaneous fees.
Singapore Citizen & Singapore PR Grant
Singapore Citizens and Singapore Permanent Residents are eligible for a grant of 10% of the tuition fees. The subsidy can only be used to offset the tuition fee and cannot be used to offset other costs such as student service fees or miscellaneous fees.
Loans
Please note that NTU is not an agent for these institutions and students must apply for the loans directly with the respective institutions and abide by their terms and conditions.
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