Financial Assistance is available for MicroMasters of Finance (MMFin) courses, on a per-course basis, for a limited number of eligible learners. Financial Assistance is intended to make the courses more accessible for individuals facing financial constraints.

To apply for Financial Assistance in MMFin MicroMasters courses, you must follow a specific process, detailed here.

Table of Contents

How Does Financial Assistance Work for MMFin Courses?

1. General Information
2. The MMFin Financial Assistance Application Process
3. How to Apply for Financial Assistance
   • Submit a Financial Assistance Application
   • Meet the Eligibility Requirements
4. Important Note: MMFin Financial Assistance and Program Duration Timeline

How Does Financial Assistance Work for MMFin Courses?

General Information

The MMFin program offers its five Content Courses three times each year, as Self-Paced course sessions, running in the Spring (January–May), Summer (May–September), and Fall (September–January) semesters. The program's capstone, the Comprehensive Final Exam course (CFx), functions differently. The CFx operates as an Instructor-Paced course, running twice each year, in April/May and October, with enrollment managed by the MMFin team directly.

Financial Assistance for MMFin Content Courses is available three times per year—once each in the Spring, Summer, and Fall semesters. Applications are accepted from within the Courseware of each Content Course session during the second, third, and fourth weeks after the session's Start Date. Decisions and awards are released within 10 days after the end of the Application Period. Learners may apply for Financial Assistance for only one MMFin Content Course during each semester.

When Decisions are released, all learners who submitted a complete Application during the session's Application Period will receive an email notification informing them whether they will be receiving Financial Assistance for that course session.

A limited number of Financial Assistance awards are available for each MMFin course session. If the number of eligible applicants for any course session exceeds the number of assistance awards available for that session, a random lottery will be conducted to select which applicants will receive an assistance award. All learners whose applications meet the Eligibility Criteria will be entered into the lottery drawing, and award recipients will be chosen randomly.

Learners awarded Financial Assistance will receive a coupon for one MMFin course, granting a 90% discount off the full course price. Each learner may receive a maximum of one Financial Assistance Award, usable for one MMFin course, during each semester.

The MMFin team is committed to providing a pathway to program completion for learners in need of financial assistance. Learners who receive Financial Assistance for an MMFin course and subsequently pass it will continue to receive assistance for subsequent MMFin courses as long as they continue to pass each course.

MMFin Financial Assistance Application Process

Financial Assistance is available for both MMFin Content Courses and the MMFin Comprehensive Final Exam (CFx) course. The process is identical for both, but the timeline differs. 

MMFin Content Courses

Financial Assistance for MMFin Content Courses is aligned with the three MMFin semesters during which these courses are offered each year. The Application Process comprises two parts:

• Application Period: Financial Assistance Applications for Content Courses can be submitted during a three-week period (21 days) near the beginning of each course session, in the second, third, and fourth weeks after the session's Start Date
  • Example: if an MMFin Content Course session starts on January 05, then Financial Assistance Applications will be available from January 12 until February 02
• Decisions & Awards: Decisions are made and Awards are distributed to selected learners within 10 days after the end of each Application Period
  • Example: for an Application Period that ends on February 02, Decisions will be announced and Awards distributed by February 12

MMFin Comprehensive Final Exam (CFx) Course

Financial Assistance for the MMFin Comprehensive Final Exam (CFx) course is aligned with the course's twice-yearly availability schedule. The Application Process comprises two parts:

• Application Period: Financial Assistance Applications for the CFx can be submitted for approximately two-and-a-half weeks (18 days), as soon as the course session starts
  • Example: if an MMFin CFx course session starts on September 22, then Financial Assistance Applications will be available from September 22 until October 10
• Decisions & Awards: CFx course Applications are reviewed immediately. Decisions are made, and Awards are distributed to selected learners as soon as possible

Financial Assistance Applications are available for a limited time in each course session. Once a session's Application Period ends, no further Applications will be accepted until the course's next session—around three-and-a-half months later for Content Courses, and more than four months later for the CFx course.

Enrollment for MMFin Content Course sessions remains open for five to six weeks after the end of the Application Period. This means learners can enroll more than four weeks after the start of a course session, but will not be eligible for Financial Assistance in that course session.

More detailed information about the Financial Assistance timeline and process for each MMFin course session is available within its Courseware, including detailed application instructions. This information is typically located in the first Courseware module—for example, at Course > Welcome to Foundations of Modern Finance, Part I > Financial Assistance.

How to Apply For Financial Assistance

Learners must meet certain criteria to be eligible for Financial Assistance for an MMFin course. Learners must:

• Submit a complete application during an Application Period (using the correct Application Form)
• Demonstrate that paying the Course Fee would cause them economic hardship
• Demonstrate they are capable of successfully passing the course

To apply for Financial Assistance in an MMFin course, you must be enrolled in a running MMFin course session, on the Audit (free) track. Because the Financial Assistance Application Period is only available during the first few weeks of each course session, we strongly encourage you to enroll in MMFin course sessions before they start.

• Note: Learners cannot enroll themselves in the MMFin CFx course directly. Instead, the MMFin Team will enroll all eligible learners into each CFx course session on or before the session's Start Date. Consequently, CFx-eligible learners reliant on Financial Assistance should be prepared to complete and submit their Application as soon as possible once a CFx course session they plan to participate in starts.

Submit a Financial Assistance Application

Where to Find the Application Form

During a session's Application Period, detailed information, instructions, and Application Form links will be available within the Courseware to guide you through the process. There are two different Application Forms:

1. First-Time Learners: use this form only if you have never received Financial Assistance in an MMFin MicroMasters course
2. Returning Learners: use this application if you have previously received Financial Assistance in an MMFin MicroMasters course

Use the appropriate Application Form link and carefully follow the instructions provided to complete and submit your application.

Application Submission Timeline

You may submit a Financial Assistance Application during a course session's Application Period.

MMFin Content Courses Application Period

The Application Period for MMFin Content Courses is the second, third, and fourth weeks after the session starts. Application submission becomes available at the start of the session's second week (7 days after its Start Date) and remains available for three weeks (21 days), until the end of the session's fourth week (28 days after its Start Date). See the image below for a visualization of the timeline.

MMFin Comprehensive Final Exam (CFx) Application Period

The Application Period for the MMFin Comprehensive Final Exam (CFx) course is the first two-and-a-half weeks of the session. Application submission becomes available immediately on the session's Start Date and remains available for 18 days.

The Application Period is the only time you can submit an Application during an MMFin course session. If you enroll in an MMFin course session after its Application Period ends, or you fail to submit an Application and meet all of the Eligibility Requirements before the session's Application Period ends for any other reason, you become ineligible to receive Financial Assistance for that course session. You must either pay the full course fee to upgrade your enrollment in that session, or wait for a future course session.
 

The Application

As part of the Application, you will be required to declare your annual household income and answer a few questions explaining why you are applying for assistance and how obtaining the MicroMasters Course Certificate will benefit you.

You must choose one MMFin course. Financial Assistance can only be provided for one MMFin course per learner per semester. Any additional Applications submitted by the same learner during a semester will be disregarded—only the first application will be considered for assistance. All Applications that do not meet the eligibility requirements will not be considered for Financial Assistance.

• Note: This limit does not apply to the MMFin Comprehensive Final Exam (CFx) course, because these course sessions operate on a different schedule of availability.

Meet the Eligibility Requirements

For MMFin Content Courses, in addition to submitting an Application, you must also complete and submit the first few Graded Problem Sets (homework assignments) in the course and achieve high scores on each. In general, you must achieve a score of at least 80% on each of the first three assignments. The specifics may vary between course sessions, but will always be communicated within the Courseware.

Important Note: MMFin Financial Assistance and Program Duration Timeline

The restriction that each learner may apply for and receive Financial Assistance for only one MMFin course during each semester effectively limits the speed at which learners dependent on Financial Assistance can complete the MMFin Content Courses, and sets a minimum possible Program Duration. We understand that this may affect your anticipated schedule/completion timeline for the MMFin Program, but no exceptions are possible at this time.

For example: A learner who applies for and receives Financial Assistance for their first MMFin Content Course in the Spring semester (in January), applies for assistance for each following course during the next possible Application Period, passing all of the courses, and takes the CFx course as soon as possible afterward can expect to take the CFx in its Fall (November) session and receive their CFx Grades, Course Certificate, and overall MMFin Program Credential by around mid-December—about 24 months after starting their first course. A learner who started in the Summer (May) or Fall (September) semesters/Application Periods instead could expect to take the CFx in its Spring/Fall session and complete the program by around mid-June/mid-December—about 26/28 months after starting their respective first courses.

For more information about the mechanics of Assistance Awards, see the articles below:

• How do I know if I have been awarded financial assistance?
• If I am awarded Financial Assistance, how much will the discount be?
• How do I use my Financial Assistance coupon?
• Does the MMFin Financial Assistance Coupon expire? Can you reactivate my expired Coupon?