Actuarial Scholarships for Minority Students

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CAS/SOA Minority Scholarship Application Deadline for submitting application: May 2, 2008 Actuarial Scholarships for Minority Students Application is in .pdf format; you need the Adobe Acrobat Reader to view this file.

The 2008-2009 Scholarship Application is due May 2, 2008. Please check back for more information soon.

Purpose:

To provide scholarships at the undergraduate or graduate level for certain minority students who are interested in pursuing actuarial careers.

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

• 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)

• 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)

Procedure:

An application is considered complete when it includes:

1. The 4-page Actuarial Scholarships for Minority Students application.
2. The 2 nomination forms included in the application, preferably completed by instructors and/or advisors at your educational institution who know you well.
3. The Financial Statement included in the application.
4. A Student Aid Report showing your financial data.
5. A copy of the page in the school catalog or information sheet showing estimate of tuition, fees and other expenses.
6. Official, sealed current college transcript or high school transcript if you are applying for a freshman year scholarship. If the current transcript shows grades for only one semester, then also provide the transcript from your prior educational institution.
7. Official, sealed record of any educational examination scores taken (PSAT, SAT, ACT, etc.)

Amount of Scholarship:

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 CAS/SOA Committee on Actuarial Diversity. Please note: Scholarship recipients are eligible to receive a one-time stipend of $500 for each actuarial exam passed during the 2008 scholarship period (Fall 2008-Spring 2009). Recipients are required to submit a letter requesting payment along with a copy of their exam passing score from the SOA. Please allow two weeks for payment of funds.

Additional Scholarships

Mercer has a Diversity Scholarship that is available to sophomores and juniors that meet additional criteria. For more information click here

Further Information: