program detail
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USD 33318

Annual Tuition Fee

!
*Subject to change and other fees
Application icon

USD 100

Application Fee

Duration icon

60 months

Duration

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6.5

IELTS

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80

TOEFL

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70%

Min GPA

Program Overview

The Ph.D. in Finance program at Stuart School of Business is both practice and research oriented, preparing you to initiate advanced techniques and research to solve problems in investment and corporate finance, to address regulatory issues in risk management and market functions, and to take on roles in finance in both industry and academia.

You will be immersed in industry-leading techniques and applications of financial technology, financial economics, quantitative finance, business finance, and applied statistics. The curriculum emphasizes mastery of both applied research methods and strategies needed for high-level research positions in industry, as well as the advanced techniques and statistical tools required for high-caliber research in a variety of jobs.

This program is selective and small, offering a high degree of mentorship and interaction between faculty and students, with ample opportunities to conduct cutting-edge research alongside faculty experts.

After completing all the required courses and the Ph.D. qualifying and comprehensive exams, students often gain practical experience through internships, which creates new opportunities to analyze data, and case studies that are potentially useful for pursuing a doctoral dissertation. Students are also encouraged to serve in teaching and research assistant positions.

Our doctoral students gain relevant, cross-disciplinary experience that prepares them to be business innovators and leaders in academia, industry, government, and consulting. Students benefit from a legacy of curricular innovation at Stuart and Illinois Tech, spanning more than 125 years of economics and business education, including offering the world’s first postgraduate program in quantitative finance and establishing the academic discipline.

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Additional Information

Program Level Doctoral Degree(Ph.D,M.D)

College/University Processing Time 28 Days

Program Format Full-Time

Optional Practical Training (OPT) work permit

Program Intake

Open

Jan 2026

Closed

Aug 2025

General Admission Requirement

    Academic Requirement

    • Minimum Level of Education Required: To be accepted into this program, applicants must have Master's Degree.

    6.5 IELTS Score
    80 TOEFL Score Minimum Overall Score
    115 Duolingo Minimum Overall Score
    300 Gre Minimum Overall Score
    500 Gmat Minimum Overall Score
    70% CGPA Minimum Overall Score

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    Tuition Fee

    The values given below are estimated figures, excluding extra charges like material fee, student activity fees, athletic fees, health care, etc., for courses. To know more, please visit the Programs page.

    Average Tuition Fee Per Year

    33318

    Tuition Fee
    (USD)

    USD 100

    Application Fee
    (USD)

    12000 Per year

    Average Cost of Living
    (USD)

    info icon

    The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

    Check program website for more information about funding options.

    Scholarships

    Type of Scholarship Scholarship Information Amount/ Range
    International Undergraduate Student Scholarships International Undergraduate Student Scholarships Criteria:
    Open to international first-year and transfer students.
    No separate application required; considered automatically upon admission.
    Based on academic success, community involvement, and other achievements.
    Note: International students must submit a Financial Affidavit of Support to demonstrate their ability to finance their education.

    LINK: https://www.iit.edu/admissions-aid/tuition-and-aid/scholarships
    International Undergraduate Student Scholarships Amount: $40,000–$100,000 over four years.

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