The Actuarial Foundation, The International Association of Black Actuaries (IABA), the Organization of Latinx Actuaries (OLA), the Sexuality and Gender Alliance of Actuaries (SAGAA) and the South Asian Network of Actuaries (SANA) 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 Are Now Open
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.
The Organization of Latino Actuaries (OLA) furthers its mission of increasing the number of Latine actuaries by awarding academic scholarships to Latines who will be attending a US college/university next school year.
Applications will be evaluated on various criteria including, but not limited to, academic performance, commitment to pursuing the actuarial profession, exam progress, work experience, and leadership experience. Finalists for the named scholarship are expected to be selected by mid-June 2025. Both the named and general scholarships winners are expected to be notified in August 2025.
Please note that your application will be reviewed by a team of OLA's volunteers as well as Named Scholarship Sponsors, if you are being considered for the Named Scholarship. If you choose to provide any sensitive personal information, please keep in mind that any and all information provided in your application may be shared with the OLA Scholarship Review Committee and Named Scholarship Sponsors.
Named scholarships: Winners receive $5,000 and are guaranteed an actuarial internship for Summer 2026. Finalists for the named scholarship will be required to interview.
General scholarships: Winners receive awards of various amounts. The top student will receive the Cresta Scholarship, which is a $7,500 award. In Spanish, "ola" means wave, and "cresta" is the crest (top) of the wave. With this award, OLA will be recognizing top future Latine actuaries.
Note that a named scholarship recipient is eligible for the Cresta Scholarship, but the most OLA will award to an individual student is $7,500. Finalists for the general scholarship are not required to interview.
The application will close at 11:59 PM ET on March 31, 2025. Please submit your application by February 28th to be considered to the OLA Avanza Conference travel sponsorship.
Here is the list of Named Scholarships Sponsors that have signed up to offer a 2026 actuarial internship to interested applicants:
Aetna, Allianz, Cigna, CNA, CSAA, F&G, Liberty Mutual, Lincoln Financial, Milliman, Mutual of Omaha, Nationwide, New York Life, Northwestern Mutual, Principal, Segal, The Standard, Travelers, TruStage, Verisk and WTW!