Waterloo CFM admission requirements: low to mid 90s selection, the AIF, and six co-op terms

CFM leads to a Bachelor of Computing and Financial Management. It is offered by the Faculty of Mathematics with the School of Accounting and Finance. You study computer science in the David R. Cheriton School of Computer Science and finance in the School of Accounting and Finance. Waterloo says you gain expertise in two majors and graduate ready for careers in computer science, finance or both.

Waterloo says CFM gives a direct route to the Chartered Financial Analyst (CFA) designation. Recent graduates it lists include an investment analyst at the Canada Pension Plan Investment Board, a technical systems analyst at RBC and a software development engineer at Amazon.

Ontario students need six Grade 12 U or M courses. Those must include any Grade 12 U English with a final grade of at least 75%, Advanced Functions, Calculus and Vectors, and one other Grade 12 U course. Waterloo recommends Introduction to Computer Science and Principles of Financial Accounting, but they are not required.

First year is math heavy. You take Waterloo's honours math courses, MATH 135, 136, 137 and 138, along with CS 135 and CS 136. A weak calculus mark is a warning sign even if your average is high. Use our course planner to fit computer science into Grade 12 if you can.

Waterloo lists CFM's admission average as individual selection from the low to mid 90s. Individual selection means Waterloo looks at more than your average. Your grades and your AIF together shape the decision.

Waterloo calculates your admission average from your top six Grade 12 U or M courses, including the required ones. It says its published averages are based on the grades of students it admitted last year. Waterloo does not publish an acceptance rate for CFM. See our Waterloo acceptance rate page for what it does publish, and check your number on our Top 6 average calculator.

CFM is one of the programs that needs Waterloo's Admission Information Form. Waterloo says that if you don't submit the AIF and other required forms, your application will not be reviewed. You fill it in through the Waterloo applicant portal after you apply.

The AIF has four short questions, each with a 150-word limit. They cover a passion or strong interest, community involvement, a time you saw unfair treatment, and your goals for Waterloo. A fifth section lists your activities outside class, with hours, from January 1, 2026 to December 31, 2026. You submit it once, and the same answers count for every Waterloo program that uses it. Read our Waterloo AIF guide for more.

Waterloo is direct about who writes it. Its page says: "You must complete and submit the AIF on your own." It adds that your application may be rejected or an offer revoked if it believes your AIF was written by someone else. If you use AI to create answers that are untrue, incorrect or plagiarized, Waterloo says it can deny admission or withdraw your offer.

Waterloo also says trained people and an AI system both review the AIF, with a second human scorer if their scores differ a lot. Writing the Canadian Senior Mathematics Contest or the Euclid Contest is not required for admission, but it is required for some Faculty of Mathematics scholarships.

Apply on OUAC by February 1, 2027. Send documents, including the AIF, by February 15, 2027. Waterloo says AIF submissions will not be reviewed after the deadline. If you also apply to an Engineering program, you must send the AIF and the other forms by the Engineering deadline of February 1, 2027.

Waterloo says the Faculty of Mathematics sends offers from January to May. Ontario high school students get all offers by mid-May and have until 11:59 p.m. ET on June 1, 2027 to accept.

CFM is co-op only. Your first work term comes early, in the spring after first year. You then alternate school and work, for six work terms in total, and finish with a winter study term in fifth year. Waterloo says you gain two full years of work experience.

Sample co-op jobs include software developer, data scientist, global markets quantitative analyst, financial analyst and risk management roles. Waterloo's co-op fee for 2026/2027 is $836, charged in instalments over your degree. Waterloo says it is not a fee for each job.

First year mixes all three areas. In the fall you take CFM 101, Introduction to Financial Markets and Data Analytics, plus CS 135, MATH 135, MATH 137 and AFM 191. In the winter you take CS 136 and its lab, AFM 132, MATH 136, MATH 138 and a communications course. You can take advanced-stream math and computer science if you qualify.

After first year, most required courses are in Computer Science and Accounting and Financial Management, with foundational math. You have four general electives. Sample upper-year courses include Derivative Securities, Fixed Income Securities, Financial Data Analytics, Introduction to Machine Learning and Introduction to Artificial Intelligence.

For 2026-27, Waterloo estimates two terms of CFM tuition and incidental fees at about $11,000 for Ontario students, $12,000 for students from other provinces and $64,000 for international students. Books and supplies add about $1,500. These estimates are based on fees for students starting in September 2026. Waterloo warns that tuition for accounting and finance programs, CFM included, is significantly higher in upper years.

Entrance scholarships are automatic and based on your early May admission average. A one-time $1,000 Merit Scholarship goes to 85% to 89.9%, a $2,000 President's Scholarship to 90% to 94.9%, and the President's Scholarship of Distinction at 95% or more adds a $1,500 International Experience Award and/or a $1,500 Research Award.

CFM is highly selective. The low to mid 90s range and the AIF mean your child should apply to back-up programs too. Waterloo lists related programs such as Accounting and Financial Management, Computer Science, Computational Mathematics and Mathematical Finance.

Plan for higher upper-year tuition, but also for six paid work terms. The first one starts in the summer after first year.