Master of Financial Engineering Program

Costs and Financial Aid

Program Costs

Each year Berkeley's Financial Aid Office estimates the average cost for a graduate student during the academic year. This budget is the basis for determining financial aid eligibility. You may use the chart below to estimate the cost of attending the MFE Program. As these official figures are averaged for all UC Berkeley students, actual costs, especially housing costs, may be higher. Estimated living expenses and health insurance cots for the second half of your year are projections based on past figures. All fees are subject to change. These figures were updated March 22, 2016. Students in the Class of 2017 can view a detailed Cost of Attendance here.

Estimated Program Cost of Attendance (2016-2017)

University Tuition + Fees $66,084
University Health Insurance $5,127
Estimated Living Expenses $25,752
Estimated Books, Supplies $1,164
Total Cost of Attendance $98,127

Computer Costs and Fees

MFE students are required to have their own powerful laptop computer.

Financial Aid Overview

The majority of assistance is in the form of loans. Students can often borrow Federal or Private Loans up to the Cost of Attendance.

We participate in Federal Loans for US citizens and permanent residents. This will require filling out the Free Application for Federal Student Aid (FAFSA) along with a few other supplemental steps. Please review our Federal Loans page on how to complete this process. Due to the nontraditional academic calendar of the MFE Program, students will need to go through the loan process twice for Federal Loans (once for the Spring & Summer terms, and once for the Fall & Winter terms).

We also participate in Private Loan programs for those that feel they may get a better rate than the federal loans or for International Students that have a US cosigner. If you are an International Student without a US cosigner you can review our International Loans page for more options. Students entering March 2016 can borrow up to $60,000 from a risk-share loan which does not require a co-signer.

The Chengchun "Arthur" Qi Book Scholarship

The Chengchun "Arthur" Qi Book Scholarship for $1,000 was developed in memory of Arthur, a student in the MFE program, who passed away unexpectedly in February 2012. The scholarship application is available online each year.

The Ekaterina "Kate" Matrosova Leadership Award

This fund, launched in 2015, was developed in memory of Kate who was an MFE alumna from the Class of 2014. Required personal statement: How have you demonstrated tenacity, helped others, and exhibited strong leadership skills? Limit your response to 500 words.


Outside Scholarships and Veterans Benefits

The Haas Financial Aid Office has developed outside scholarship resources in a central location as a service to prospective and current students.

Please also review the Graduate Division website for possible university-wide opportunities.

Veterans Benefits can be a lucrative funding option. We have had students in our self-supporting programs who have all assessed fees covered for their graduate degree.

For Women Only: Each year FWSF award scholarships to Bay Area women studying finance and accounting. The scholarships offered are for graduates in the amount of $10,000.

Payment Process and Options

Please note, students offered admission will be given a deadline to submit the first fee payment installment. If the deadline is not met, we reserve the right to rescind our offer of admission.

If your financial aid award does not cover your entire bill, you must pay the remaining balance by the due date or risk incurring late charges. Payments are due December 15, 2015 for the spring term, May 15, 2016 for the summer term, August 15, 2016 for the fall term and on January 15, 2017 for the winter term.

The MFE Program Office will reach out to you about the initial bill due date and payment option. Below are payment options for the last three bill due dates.

  • Online: Pay through the e-Pay site within CARS (Campus Accounts Receivables System)
  • Electronic: Submit payment electronically through your bank's pay-by-phone or online bill pay service.
  • Wire transfer: Refer to the Billing Office website for specific details.

For Further Assistance

The Haas Financial Aid staff are your point of contact for all financial aid questions rather than the central University offices. The Haas Financial Aid staff can also assist with basic billing, and payment questions which are administered by the central University offices. Refer to the Haas Financial Aid website for additional details about loans, and other related topics.

Haas Financial Aid Office
S546 Student Services Bldg.
Berkeley, CA 94720-1900
phone: (510) 643-0183