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Funding Your Graduate Education

Below are some avenues of funding for your education with Illinois Tech. For information on other financing options, visit the Office of Financial Aid website or contact that office directly at finaid@iit.edu or 312.567.7219.

Graduate Fellowships and Assistantships

Graduate fellowships, teaching assistantships and research assistantships are awarded by individual academic departments to a limited number of highly qualified, full-time students (usually at the Ph.D. level) at the time of admission. If you receive a funding award, you will be notified of the award in your official admission letter. Departmental funding is based on merit and not on need, and every applicant is automatically considered upon timely submission of a complete application packet. Review Application Deadlines to see upcoming Financial Consideration deadlines. No additional paperwork is required.

ACE Scholarship

The ACE award is a partial-tuition scholarship for Master's level study at Armour College of Engineering that encourages participation in various educational, research, and/or leadership activities and projects that are expected to enhance your educational experience and contribute to your professional competence in your chosen field of study. All applicantions for Master's level study at Armour College of Engineering will be considered.

Graduate Pathways Scholarship

Available only for India Onsite students. The Graduate Pathway Scholarship is a one-time award for the first two semesters of enrollment. Full-time students are awarded $10,000, which will disburse at a rate of $5,000 per semester for the first two semesters of enrollment. Students enrolled part-time will receive a pro-rated amount based on enrolled hours. This scholarship cannot be combined with any other Illinois Tech funding and is contingent on enrollment at the Chicago campuses of Illinois Tech beginning in fall 2018. Total scholarship amounts in any given semester will not exceed tuition charges.

Science Frontier Scholarship

The U.S. government has prioritized STEM and computer science education because of their importance to the U.S. economy, believes STEM jobs will see continuous vigorous growth in the coming decade, and seeks to encourage American students to pursue STEM education. In support of that, Illinois Tech’s College of Science offers a scholarship of up to $9,000 per year for master’s-level study in applied mathematics, biology, chemistry, computer science, or physics. You must be a U.S. citizen, permanent resident, or dual citizen.  You are automatically considered for the scholarship if you meet these criteria. 

This scholarship is stackable with the GRE scholarship/smaller scholarships. Scholarship totals can not exceed tuition cost. 

The award breakdown is as follows: $9,000 a year for the duration of the program for a full-time student enrolled in 9 credit hours or more; $3,000 a year for the duration of the program for a part-time student enrolled in 6-8 credit hours; $1,500 a year for the duration of the program for a part-time student enrolled in 3-5 credit hours. 

Illinois Tech College Scholarship

The Illinois Tech College Scholarship is awarded for four semesters for College of Science students. It is a flat amount and available only for full-time students pursuing master's-level degrees in applied math, chemistry, and physics. The total Illinois Tech College Scholarship amount in any given semester will not exceed tuition charges. 

Tech Edge Scholarship

A merit scholarhip only available for the Master of Information Technology and Management (ITM) program. The Tech Edge Scholarship awards graduate ITM students up to $10,000 in support toward their total graduate tuition. In order to apply for the Tech Edge Scholarship, please submit your application to attend Illinois Tech. The deadline for the scholarship is the same as your application deadline, which you can find here.

Launch Scholarship

As a business school within a tech school, Stuart School of Business is uniquely positioned to link highly-skilled Illinois Tech graduates to advanced degrees that prepare them to be leaders in finance. Students applying for the Master of Science in Finance, Master of Mathematical Finance, Master of Science in Management Science (Quantitative Finance) programs are eligible to apply for the Launch Scholarship.

Federal and Private loans

Financial support for graduate study is also available from a number of other sources. U.S. citizens and permanent residents may be eligible for federal student loan and work-study programs. For information on student loans and other financing options for Graduate students, please click here.

Payment Plans

IIT offers tuition deferral and installment payment plans. If your employer offers a tuition reimbursement plan, you may be able to apply for a deferred payment plan that will allow you to delay payment until you have received reimbursement from your employer. You must submit an application and fee and a letter from your employer in order to participate. IIT also offers installment payment plans for full- and part-time students. For further information, please visit the Student Accounting Office website or contact that office directly at bursar@iit.edu or 312.567.3785.

Alumni Tuition Discount Policy

Alumni (have an earned IIT undergraduate or IIT graduate degree, are not concurrently admitted to any IIT degree program, or admitted to a law program) who are registered in graduate degree-seeking, part-time or full-time status, and maintain good academic standing, are permitted a reduction of one-third of the current tuition for one three-credit hour course. For more information please visit the Office of Financial Aid website.

On-Campus Jobs

Illinois Techs's Student Employment Office maintains an online database of on-campus jobs. If you are admitted to IIT, you can create a Handshake account to search for open positions after you arrive on campus and check in during orientation.

International students should be aware that there are restrictions on the types of employment they may accept while in the United States on a student visa. Please contact IIT's International Center at icenter@iit.edu or 312.567.3680 for additional information.