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


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.


  • 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
  • Must not receive reimbursement for these exam registration fees and/or study materials from any other reimbursement program (including employee programs)

The Caribbean Actuarial Scholarship was established in 2008 in memory of Basil L. and Monica G. Virtue by their son-in-law, S. Michael McLaughlin, FSA, MAAA, an actuary who graduated from UWI. The scholarship is intended to be an annual award to University of the West Indies (UWI) actuarial student(s) who demonstrate a strong record of accomplishment, leadership qualities and commitment to becoming an actuary.  

Qualifications include:
• Must be an undergraduate student entering their second or third year at the University of the West Indies
• Must be enrolled in UWI’s actuarial science program
• Must hold a minimum GPA of 3.0 or equivalent

The Actuarial Foundation