Actuaries help companies and individuals protect themselves against financial losses and plan for the future. They understand the nature of risk and have unmatched analytical skills. Actuaries also play a vital role in the physical and psychological stability of society by helping businesses grow and retirees to invest with confidence. Numerous scholarship opportunities are accessible to students who are pursuing actuarial science careers and need financial assistance.
Reviewing Top Actuarial Scholarships
Actuarial Diversity Scholarship
Promoting diversity in the actuarial profession, the Actuarial Diversity Scholarship is an annual program for students of African American, Native American, Pacific Island and Hispanic origin. The scholarship offers a range of awards based on the education level of the applicants: $1,000 for high school seniors, $2,000 for college freshmen, $3,000 for college sophomores and $4,000 for college seniors. The money is divided across multiple semesters. Applicants must intend to pursue an actuarial career, attend U.S.-accredited schools as full-time undergraduates, have a minimum 3.0 GPA with an emphasis on actuarial or math courses, and a minimum math score of 28 on the ACT and 600 on the SAT.
Curtis E. Huntington Memorial Scholarship
Recognizing the positive influence of Curtis E. Huntington on actuarial students and professionals, this scholarship offers an award of $2,000 for full-time college seniors. Huntington inspired enthusiasm and served as a trustee for The Actuarial Foundation and as a chair for the Actuarial Research Committee. Students who want to apply for the Curtis E. Huntington Memorial Scholarship must have a cumulative 3.0 GPA, complete at least one actuarial exam and be nominated by one of their college or university professors. The money is paid directly to their school over multiple semesters.
The Society of Actuaries James C. Hickman Scholar Program
Established to grow the headcount of academic actuaries with actuarial designations, PhDs and the intention to pursue academic careers, The Society of Actuaries James C. Hickman Scholar Program provides stipends to doctoral students who aim to address education and research needs within the actuarial profession. It is named in honor of James C. Hickman, the former University of Wisconsin-Madison School of Business dean and a contributor to research, scholarship and teaching. The average $20,000 annual stipend may be renewed as many as four times. Applicants must be enrolled in an eligible doctoral program full time, pass two exams and either hold a fellowship-level credential or be pursuing an associateship or a fellowship membership.
Actuary of Tomorrow
Encouraging and recognizing academic achievements, the Actuary of Tomorrow scholarship offers a $9,000 award to undergraduates. The scholarship was established in 2006 in honor of Stuart A. Robertson. He was a distinguished actuary and co-founder of Milliman, Inc., an actuarial and consulting firm. The scholarship is recognition of his positive impact on colleagues and his achievements. The money is divided over several semesters or other academic terms. Applicants must be full-time college students entering as sophomores, juniors or seniors. They need to have a cumulative 3.0 GPA and pass two actuarial exams.
DW Simpson Actuarial Science Scholarship Program
DW Simpson Global Actuarial & Analytics Recruitment is an executive recruiting company that specializes in placing actuaries into jobs. Through the DW Simpson Actuarial Science Scholarship Program, the firm offers one scholarship each semester to students who are entering their senior year of undergraduate study. Applicants for the $1,000 award must maintain an overall 3.0 GPA or better and a 3.2 GPA or better in their major. They also have to pass at least one exam and qualify to work in the United States. More scholarships are available through the math departments of numerous schools.
There are many other actuary scholarship opportunities available through actuarial clubs, companies and organizations. Colleges and universities that have actuarial programs may also offer actuarial scholarships for prospective and enrolled students. Counselors and administrative staff can provide more information.