The Actuarial Foundation, The International Association of Black Actuaries, and the Organization of Latinx Actuaries ensures the future of the actuarial profession through its scholarships and reimbursement programs. Recipients of Foundation scholarships are selected by representatives of the actuarial profession, who may one day be their peers. So, not only are these scholarships a means to offset the cost of education, but they also serve as a prestigious recognition by a highly rated profession.

The Actuarial Foundation extends its sincere gratitude to the following Corporate & Foundation Supporters who generously support this program.



Applications Open November 1, 2021

The Actuarial Diversity Scholarship promotes diversity within the profession through an annual scholarship program for Black/African American, Hispanic, Native North American and Pacific Islander students. The scholarship award recognizes and encourages the academic achievements of full-time undergraduate students pursuing a degree that may lead to a career in the actuarial profession.


Requirements:
 

  • Must have at least one birth parent who is a member of one of the following minority groups:
    Black/African American, Hispanic, Native North American, Pacific Islander.
  • Enrolling as or enrolled as a full-time undergraduate student at a U.S. accredited educational institution.
  • Minimum cumulative GPA of 3.0 (on a 4.0 scale), emphasis on math or actuarial courses.
  • Entering college freshmen must have a minimum ACT math score of 28 or SAT math score of 620.
  • Intent on pursuing a career in the actuarial profession.

 

Award amount: $1,000 - Freshman; $2,000 Sophomore; $3,000 - Junior; $4,000 Senior
(The award will be divided to cover multiple semesters or other terms comprising one academic year. Students will need to reapply each year to be considered for their renewal funds. All scholarship awards are made payable to the U.S. accredited educational institution. Recipients attending school for a portion of the upcoming year (e.g., one semester) will receive the corresponding portion of a full year scholarship amount.)
 



Thank you 







Elizabeth M. Mauro 


This Actuarial Exam Reimbursement Award opportunity was established in memory of Elizabeth M. (Liz) Mauro to honor her dedication to becoming an actuary following several years in another profession. She began the arduous task of taking math classes and studying for actuarial exams in order to enter the profession and start her new career. In the spring of 2011, Liz passed her final exam to attain fellowship in the Casualty Actuarial Society. 

The Elizabeth M. Mauro Reimbursement Award Program recognizes the limited resources available to career changers aspiring to transition into the actuarial profession after having established a previous career outside the actuarial profession. Like Liz, many individuals making this transition have limited information on study resources and must finance their own study materials and exam registration fees. Not only can this be a challenge, but it may discourage or prohibit those interested in joining the actuarial profession from doing so. We hope this reimbursement program will serve as a reminder of her commitment and her spirit of helping others achieve their goals.
 

Award Amount: $1,000 

Reimbursement will be provided for the exam registration fees for Casualty Actuarial Society or Society of Actuaries exams taken and passed during calendar year 2021 and 2022, and for the study materials purchased in preparation for those examinations, including online study courses. 

An actuarial mentor will be provided to guide the recipients towards completing additional exams and to answer questions related to seeking employment that will lead to an actuarial career.


ELIGIBILITY REQUIREMENTS

  • Must be 25 years or older by application deadline date
  • Must not have received any Actuarial Designation
  • Must be legally authorized to work in the United States
  • Must have passed at least one actuarial exam within the twenty-four months prior to the application due date of August 14, 2020
  • Must not receive reimbursement for these exam registration fees and/or study materials from any other reimbursement program (including employee programs)


The IABA Scholarship Program provides scholarships at the undergraduate and graduate level for Black students who are interested in pursuing actuarial careers. Many of the IABA Scholarship recipients receive internship or entry-level job offers, as a result of their scholarship award.
The scholarship program is available to students of African descent originating from the United States, Canada, the Caribbean and African nations.

Requirements:

  • Must be a citizen or permanent resident of the United States; or a citizen or permanent resident of Canada, a citizen of any Caribbean or African nation on a United States or Canadian student visa
  • Must be admitted to a college or university in the United States or Canada offering either a program in actuarial science or courses that will serve to prepare the student for an actuarial career
  • Must have a GPA of at least 3.0 on a 4.0 scale

Additional Judging Criteria:

  • A demonstration of interest in and a familiarity with the actuarial profession
  • Proficient communication skills
  • Evidence of determination and self-motivation
  • Calculus and Probability courses 
  • Scholastic Aptitude Test (SAT) with a minimum math score of 600 or the ACT Assessment with a minimum math score of 28, or equivalent testing results for students outside of the USA
  • Attempting (or already passed) an actuarial exam

Award amount: $1,500 - $5,000

Note: Any officers, board members, or IABA Scholarship Committee members, or immediate relatives or employees of officers, board members or IABA Scholarship Committee members are not eligible.

Stuart A. Robertson, FSA, MAAA (1918-2005) was a distinguished actuary who, along with Wendell Milliman, co-founded the actuarial and consulting firm Milliman & Robertson (now Milliman, Inc.). The Actuary of Tomorrow – Stuart A. Robertson Memorial Scholarship was established to honor his dedication to excellence and recognize his tremendously positive influence on the professional lives of many colleagues. The scholarship of up to $10,000 recognizes and encourages the academic achievements of undergraduate students pursuing a career in actuarial science.


Requirements:

  • Must be a full-time student at a U.S. accredited education institution
  • Must be an entering sophomore, junior, or senior (Freshman are not eligible)
  • Must have a minimum cumulative GPA of 3.0 (on 4.0 scale)
  • Must have successfully completed two actuarial exams



The award will be divided to cover multiple semesters or other terms comprising the academic year. All scholarship awards are made payable to the U.S. accredited educational institution. Recipients attending school for a portion of the upcoming year (e.g., one semester) will receive the corresponding portion of a full year scholarship amount. Please note that a maximum of only 2 students per college will be accepted.


The Curtis E. Huntington, FSA, MAAA, FCA, MSPA (1942-2013) Memorial Scholarship (formerly the John Culver Woody Scholarship) was established to recognize the remarkably positive impact Huntington had on the actuarial profession. He worked tirelessly to help students receive the financial assistance they needed. Given Huntington’s 30 years of service to the actuarial profession and to his students, it is only fitting that the scholarship continues in his name.
Requirements:

  • Must be an undergraduate senior enrolled as a full-time student at a U.S. accredited educational institution.
  • Must have successfully completed at least one actuarial examination
  • Must hold a minimum GPA of 3.0 (on a 4.0 scale)

Amount: $3,000
The award will be divided to cover multiple semesters or other terms comprising the academic year. All scholarship awards are made payable to the U.S. accredited educational institution. Recipients attending school for a portion of the upcoming year (e.g., one semester) will receive the corresponding portion of a full year scholarship amount. Please note that a maximum of only 2 students per college will be accepted.

We hope to announce awards by the end of May 2022. For status updates, please check our website: https://www.actuarialfoundation.org/scholarships/

The Actuarial Foundation