Actuarial Scholarships for Minority Students

Website: Be An Actuary

Description

To provide scholarships at the undergraduate or graduate level for certain minority students who are interested in pursuing actuarial careers. Scholarships are awarded on the basis of individual merit and financial need and are renewable upon reapplication. The amount of the award is determined by the Joint CAS/SOA Committee on Minority Recruiting. Please note: Scholarship recipients receive an additional $500 for each actuarial exam passed.

Eligibility

There is no specific formula that will guarantee that you will get a scholarship from the CAS/SOA Committee on Actuarial Diversity. Listed below are the qualities scholarship recipients often possess and other positive considerations. We also show considerations that will likely prevent an applicant from getting a scholarship. All items listed below are subject to change. The available scholarship funds will also affect the number of recipients.

Scholarship Recipients MUST meet the following criteria:

  • Be a qualified minority: African North American, Hispanic, or Native North American
  • Must be one of the following: U.S. citizen, Canadian citizen, U.S. Permanent Resident, Canadian Permanent Resident, U.S. student on an F1 Visa, or Canadian student on student authorization
  • Complete application submitted by the deadline date
Scholarship recipients often demonstrate the following:
  • A GPA of at least a 3.0 on a 4.0 scale
  • A Math SAT score of at least a 600 or an ACT Math score of at least a 28
  • Calculus and Probability courses are completed
  • Junior or Senior year of college
  • Attempting (or already passed) an actuarial exam
  • Attended an actuarial summer program
  • Completing (or completed) Validation by Educational Experience (VEE) requirements
  • Proficient communication skills that demonstrate clear interest in the actuarial profession
  • Excellent recommendations from mathematics-related instructors
  • Determination and self-motivation
  • Familiarity with actuarial profession demands
  • Lower family income (higher income will not reduce merit)
  • Working while also maintaining good grades (not working will not reduce merit)
Criteria considered that will likely prevent an applicant form receiving a scholarship:
  • Limited math background
  • Having a GPA that is lower than a 3.0 on a 4.0 scale
  • Having an Math SAT score lower than 600 or a Math ACT score lower than 28
  • Entering graduate school (unless a career changer)
Ethnicity
African American, Hispanic, or Native North American
Student Type
  • Junior
  • Senior
Citizen Type
  • US Citizen
  • Permanent Resident
Resident Type
  • Resident
  • Non-Resident
Other
  • Financial Need Based

Procedure

An application is considered complete when it includes:
  • The 4-page Actuarial Scholarships for Minority Students application
  • The 2 nomination forms included in this application, preferably completed by instructors and/or advisors at your educational institution who know you well
  • The Financial Statement included in this application
  • A Student Aid Report showing your financial data
  • A copy of the page in the school catalog or information sheet showing estimate of tuition, fees and other expenses
  • A current transcript
Additional applications, nomination forms and financial statements are available from the Society of Actuaries, the Casualty Actuarial Society and online at the CAS/SOA career Web site, www.beanactuary.org/minority/scholarship.cfm

Contact Information

Kathryn Wiener
Society of Actuaries
475 N. Martingale Road, Suite 600
Schaumburg, IL 60173-2226
847-706-3501
kwiener@soa.org 		Caitlin Jennings
Casualty Actuarial Society
4350 North Fairfax Drive, Suite 250
Arlington, VA 22203
703-276-3100
cjennings@casact.org

Award Details

Award Amount
Varies