Actuarial science is the application of mathematics and statistics to assess risk in fields such as finance and insurance. This field involves the rigorous study of probability, statistics, mathematics, economics, finance and lately, computer science.
In the past few years, actuarial science has grown to become a field that is highly desirable and sought after. It is also at the top of the list of careers that will be in high demand in the future since there is a long time to go before computers can replace humans completely in this field.
If you are interested in pursuing the study of actuarial science there are a fair number of scholarships you can apply to, to can help cover the cost of tuition.
The Mutual of Omaha Actuarial scholarship is among the most generous scholarship programs for Actuarial science majors. Recipients of this award get $5000 which is paid in 2 installments of $2,500 each over the academic year.
To be eligible for this scholarship, you must belong to one of the listed minority groups and be a full-time undergraduate student pursuing an actuarial or mathematics-related degree with a minimum GPA of 3.4. You should also have passed one actuarial exam at the very least and should be willing to relocate to Omaha for a summer internship.
Along with the completed application, you will need to submit a personal statement, a resume listing all actuarial exams you’ve completed and a recommendation letter.
The Actuary of Tomorrow – Stuart A. Robertson Memorial Scholarship is managed by the Actuarial Foundation. The scholarship aims to support talented undergraduates interested in pursuing a career in actuarial sciences. Selected candidates are awarded $9000 which will be spread across the academic year to cover multiple semesters or terms.
Applicants need to have successfully completed 2 actuarial exams and be enrolled at an accredited U.S. institution with a minimum 3.0 GPA on a scale of 4.0.
The Actuarial Diversity Scholarship is intended to promote diversity in the field of actuarial sciences with a scholarship amount of $4,000.
To apply, students need to demonstrate intent to pursue a career in actuarial science and have at least one birth parent who is a member of the listed minority groups. They also need to be enrolled in a full- time undergraduate course at a recognized U.S. academic institution with a 3.0 GPA.
Students who have completed actuarial exams have a better chance of winning this award.
The DW Simpson 2018 Actuarial Science Scholarship is offered to students entering their senior year of undergraduate study. Applicants must be majoring in actuarial science and must have a GPA of at least 3.2 in their major and 3.0 overall in addition to having passed at least one actuarial exam. The scholarship amount is a one-time sum of $1000 that is awarded once every semester in an academic year.
The NAC offers 4 scholarship- two scholarships worth $4000- open for those attending the University of Nebraska and two worth $2000 for students of any university or college in the United States. These scholarships are sponsored by the NAC and the Nebraska Insurance Federation.
To qualify, applicants must have graduated high school, and majored in Actuarial science and demonstrated mathematical ability.