Ph.D. fellowships

This program is not renewed for the 2014-2015 year. However, the multi-year commitments that IFM2 has already made ​​under previous competitions will be respected according to the established conditions.


Scholarships are available for students who started or are planning to start doctoral studies in mathematical finance.

IFM2 receives funds from the Quebec Government for its scholarship programs yearly. Hence, annual commitments of IFM2 are conditional on the availability of this funding. IFM2 may, without notice, alter the programs or the terms and conditions of the awards.

Eligible Students

Canadian citizens or landed immigrants living in Québec are eligible. Only full-time students are eligible, and awards recipients must remain registered as full-time students in the program for which the scholarship is granted for the entire funding period.

Students undertaking a doctoral program in a university outside Québec must maintain their status as a Canadian citizen or landed immigrant in Québec for the entire funding period.  IFM2 must be immediately notified by the award recipient of any changes in his status.

If an award holder either abandons his studies or switches to part-time studies, he is no longer entitled to the funding and payments are canceled.

Eligible Programs

Doctoral programs allowing a specialization in mathematical finance are eligible. Funding is granted for a maximum of three years; however, a student will not be funded for doctoral studies exceeding five years. Programs outside Québec are eligible; however priority will be given to eligible programs offered by IFM2 partner universities.

Applications from students who are registered in programs that are not identified with mathematical finance will be considered only at the discretion of the Institute. In such cases, the candidate must demonstrate that his specialization area is mathematical finance, provide a detailed description of his thesis, and justify his choice of a research supervisor.

Students admitted to a preparatory, refresher or probation program are eligible. In such case, if a student is granted the scholarship, the first payment is made in the first semester where the number of credits enrolled in the regular program is higher than in the preparatory program.

Acceptance Criteria

The decision to grant a scholarship is made by the executive committee, or by a multi-university committee appointed by the executive committee. This decision is established on the basis of the candidates’ cv, his grades and of the relevance the chosen academic program with respect to the Institute’s purposes.

To apply, the candidate must provide the following:

  • The completed information sheet
  • A two-page text describing the reasons why the candidate whishes to specialize in mathematical finance and justifying his choice of a program
  • An up-to-date cv indicating academic degrees, relevant professional experience, prizes and awards, publications and other accomplishments
  • A two-page text describing his thesis project
  • All undergraduate and post-graduate academic records
  • Copy of the admission offer in a Ph.D. program. Students admitted or registered in a preparatory program should also attach the detailed requirements of this program.
  • Proof of Canadian citizenship or immigration status issued by Immigration Canada
  • Two letters of recommendation sealed or sent directly to IFM2 by the professor


The amount of the annual scholarship is $20 000, in two payments, and can be renewed at most two times (the total duration of the support may not exceed three years). Renewal of the scholarship is conditional to the recipient maintaining a satisfactory academic record in the program for which the scholarship is granted. To receive payments, the student must transmit to IFM2 his cumulative academic transcript at the end of each quarter. To obtain the annual renewal, the student must also transmit to IFM2, at the end of each academic year, his course work and research plan for the upcoming year, along with a support letter from his thesis supervisor.

Changes to the conditions of the fellowship can only be considered if applied-for in advance to the IFM2; In such a case, IFM2 will make sure that the requested changes do not have an effect on the application’s evaluation and/or eligibility.

The student services department of each university is responsible for distributing scholarship monies according to their payment schedules.

 The IFM2 scholarship may not be combined with merit scholarships from the federal government, such as the Natural Sciences and Engineering Research Council (NSERC), the Social Sciences and Humanities Research Council (SSHRC), or the provincial government, such as the Fonds québécois de la recherche sur la nature et la technologie (FQRNT), or the  Fonds québécois de la recherche sur la société et la culture (FQRSC).

 It is agreed that the IFM2 must be informed of other scholarships granted to the candidates and that the IFM2 may share confidential information with the different funding bodies in question.