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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.


  • 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

IABA Scholarship recipients are required to serve on an IABA committee for one year. Future portions of the scholarship amount are contingent upon fulfilling the service requirement.

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.

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