If you are a student seeking a grant, this is an opportunity to apply for Actuarial Diversity Scholarship in the USA.
This scholarship will take care of your tuition and other educational needs.
The award recognizes and encourages the academic achievements of full-time undergraduate students pursuing studies leading to a career in the actuarial profession. The prize will be divided to cover several semesters or other terms composing the academic year.
In this article, we will give you tips on how to apply successfully for this scholarship.
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About Actuarial Diversity Scholarship
The Actuarial Diversity Scholarship was created in 1977 as a joint initiative of the Casualty Actuarial Society and the Society of Actuaries. Since its creation, the Actuarial Diversity Scholarship Program has opened the door to the actuarial profession for hundreds of minority students.
In 2008, this scholarship program was transferred to the Actuarial Foundation to strengthen, increase and sustain a diverse and high-quality pool of actuarial candidates.
The Actuarial Diversity Scholarship Program promotes diversity within the profession through an annual scholarship program for Black/African-American, Hispanic, and Indigenous students from North America and the Pacific Islands.
All scholarships are payable at accredited educational institutions in the United States. Recipients who attend school for part of the coming year (for example, one semester) will receive the corresponding portion of the scholarship amount for a full year.
Level/Field of Study
The Actuarial Diversity Scholarship 2024 award recognizes and encourages the academic achievements of full-time undergraduate students pursuing studies leading to a career in the actuarial profession.
Host Nationality
The Actuarial Foundation is the philanthropic organization of the actuarial industry in the United States. Since 1994, the Foundation has been promoting mathematical education and financial literacy throughout life through its learning resources and scholarships.
The mission of the Foundation is to improve mathematics education and financial literacy through the talents and resources of actuaries. Also, the Foundation’s vision is for an educated public looking for a secure financial future.
Since 2004, the Actuarial Foundation has received unwavering support from US actuarial organizations.
Their trust and dedication to the Foundation’s mission are key to the ongoing growth and success of the institution as a philanthropist for actuaries in the United States.
The Actuarial Foundation ensures the future of the actuarial profession through its scholarship and reimbursement programs. Foundation grant recipients are chosen by representatives of the actuarial profession, who may one day be their peers.
These scholarships are not only a way to offset the costs of education, but they also serve as a prestigious recognition for a highly-rated profession.
Eligible Nationality
Actuarial Diversity Scholarship Program prioritizes minority groups such as Blacks/African-Americans, Hispanics, and Native Americans from North America and the Pacific Islands.
Scholarship Worth
- The scholarship benefit will be divided to cover several semesters or other terms composing the academic year.
Award: $1,000 – first-year student; $2,000 – Sophomore; $3000 – Junior; $4,000 – Senior.
- Promotes inclusion and diversity in the actuarial profession.
Eligibility
To apply for the Actuarial Diversity Scholarships, applicants must:
- Have at least one biological parent who is a member of one of the following minority groups: Black/African-American, Hispanic, Native North American, or Pacific Islander.
- Register or be registered as a full-time undergraduate student at an accredited educational institution in the United States.
- Have a minimum cumulative average of 3.0 (on a scale of 4.0), focusing on mathematics or actuarial courses.
- First-year university students must have a minimum math score of ACT 28 or SAT math score of 620.
- Intention to pursue a career in the actuarial profession.
How to Apply
Interested applicants should be sure to follow the application process outlined below:
- FRESHMAN ENTRY ONLY: Upload your official SAT or ACT result report PDF file. Ensure that the applicant’s name is displayed in the uploaded document.
- If the candidate has been actuarially assessed, upload the exam grade slip(s).
- Upload a PDF of the Applicant’s VEE Credit Report.
- List the Host University’s actuarial program the applicant has participated in or is planning to attend.
- Download a PDF of the candidate’s CV.
- Please enter the name and email address of a recent actuarial, mathematics, or science teacher, professor, advisor, or employer who can provide a reference letter describing his or her mathematical or scientific skills, academic achievements, leadership skills, business acumen, and skills Communication. Writing at least one of the letters from a math or science teacher is strongly recommended for incoming undergraduates. IF THE APPLICANT RENEWS A SCHOLARSHIP, YOU WILL BE SURE YOUR REFERRAL KNOWS TO WRITE ON THE PROGRESS MADE SINCE YOU RECEIVED THE SCHOLARSHIP.
- Personal Statement: Please include a one or two-page personal statement with answers to the following questions:
- “Why are you interested in becoming an actuary? What steps are you taking to enter the actuarial profession? Have you taken or will you be taking an actuarial internship? Have you participated in actuarial or mathematical societies or played a leading role? “
- IF THE APPLICANT RENEWS THAT A SCHOLARSHIP, A PERSONAL EXPLANATION SHOULD COVER THE PROVISIONS AND THE PROGRESS MADE SINCE RECEIVING THE SCHOLARSHIP.
Application Deadline
All applications should be submitted on or before 1 March annually.
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