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.
STEM Stars Actuarial Scholars Program
The STEM Stars Actuarial Scholars Program fosters diversity within the actuarial profession by offering scholarships to aspiring college-bound students interested in pursuing a career as an actuary. The program not only provides financial support valued at $20,000 (distributed over four years at $5,000 annually) but also provides mentorship from actuaries, exam resources, immersive in-person and virtual experiences, exposure to internship and industry opportunities, and guidance throughout their college experience.
Eligibility Requirements:
To qualify for the STEM Stars Actuarial Scholars Program, applicants must meet the following criteria:
- Current High School Seniors or College-Bound Students: Open to individuals in their senior year of high school or those who have graduated high school within the last two years and will enter a 4-year university as a freshman.
- Academic Performance: Applicants should exhibit strong academic performance, with a minimum overall GPA of 3.0, an SAT Math score of 600+, or an ACT score of 25+.
- Math Proficiency: Has a demonstrated proficiency in mathematics, including Algebra, Calculus, state tests (Proficient or Advanced), and/or completion of Advanced Placement classes. (Alternative Criteria: A "B" average or higher in other subjects may be accepted in place of exceptional math proficiency)
- Recommendation: A recommendation provided by a principal, teacher, guidance counselor, or another qualified professional is required.
- Actuarial Career Aspirations: Candidates must express a sincere intent to pursue a career in the actuarial field.
- Financial Need: Evidence of financial need will also be considered during the selection process.
Please be advised that virtual interviews may be conducted as part of the final selection process for the top 20 applicants in the program.
Scholarship Disbursement and Renewal:
The scholarship award will be distributed over multiple semesters or other academic terms within a single year. To continue receiving the scholarship in subsequent years (2, 3, and 4), students must complete all yearly program requirements, submit any requested documents, and be approved for renewal by the program leadership. All scholarship awards will be made payable to accredited educational institutions in the United States. If a recipient attends school for only a portion of the upcoming year (e.g., one semester), the scholarship amount will be adjusted accordingly.
Acknowledgments:
The STEM Stars Actuarial Scholars Program owes its existence to the generous support of our Corporate Advisory Council companies and dedicated donors. These organizations are committed to empowering students in their pursuit of a career as actuaries and are enthusiastic about enhancing diversity within the actuarial profession. We invite you to explore these companies that share in your journey toward success.
The SANA Scholarship Program provides scholarships for actuarial candidates who identify as South Asian who are interested in pursuing actuarial careers. The scholarship program is available to students of South Asian descent around the world.
Requirements:
- Must identify as South Asian.
- Must have intention to pursue an actuarial credential that will serve to prepare the student for an actuarial career;
- Must have a GPA of at least a 3.0 on a 4.0 scale, or the equivalent.
Additional Judging Criteria:
- A demonstration of interest in and a familiarity with the actuarial profession
- Proficient communication skills
- Evidence of determination and self-motivation
- 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: Registration for one preliminary actuarial exam through the Society of Actuaries or the Casualty Actuarial Society + six months of full access to the Coaching Actuaries seminar for the selected exam.
Note: Any officers, board members, or SANA Scholarship Committee members, or immediate relatives or employees of officers, board members or SANA Scholarship Committee members are not eligible.