IABA Foundation Actuarial Scholarships

Downloadable version of 2010 Scholarship forms now available!

IABA's mission is to contribute to an increase in the number of black actuaries and to influence the successful career development, civic growth and achievement of black actuaries.

IABA Foundation does not discriminate against any person on the basis of gender, disability, religion, marital, employment or sexual orientation status in the decision-making process.

ELIGIBILITY

The scholarship program is available to students of African descent originating from the United States, Canada, the Caribbean and African nations.

Applicants must meet the following requirements:

• A citizen or permanent resident of the United States; or a citizen or permanent resident of Canada, a citizen of any Caribbean or African nation on a United States or Canadian student visa;
• Admitted to a college or university in the United States or Canada offering either a program in actuarial science or courses that will serve to prepare the student for an actuarial career;
• Have taken the Scholastic Aptitude Test (SAT) with a minimum math score of 600 or the ACT Assessment with a minimum math score of 28, or equivalent testing results for students outside of the USA;
• Have a GPA of at least 3.0 on a 4.0 scale.

Applicants will also be judged on the following criteria:

Note: Any officers, board members, or IABA Foundation Scholarship Committee members, or immediate relatives or employees of officers, board members or IABA Foundation Scholarship Committee members are not eligible.

All documents listed in items 1-7 are part of the entire application.  Applications are not accepted unless they include all of the documents in items 1-7 and are submitted by May 31, 2010.  Submitted means either (1) received by IABA Foundation electronically, or (2) placed in the mail evidenced by the postmark date.  All information is confidential.

1. The completed IABA Foundation Actuarial Scholarships Application (online or paper copies are accepted).
2. Two recommendation forms, completed by instructors and/or advisors at your educational institution who know you well, and are sent directly from your educational institution.
3. An official, sealed current transcript, sent directly from your educational institution. If the current transcript shows grades for only one semester, then the transcript from your prior educational institution must be submitted.
4. A copy of educational examination scores taken (PSAT, SAT, ACT, etc.).
5. A copy of the page in the college or university catalog or an information sheet showing an estimate of tuition, fees and other expenses for the upcoming school year.
6. Resume.
7. Personal Statement.

NOTE: Applicants are responsible for submitting complete applications by the deadline.Applications will not be reviewed until all documents are submitted, unless it is the fault of the Institution.

Copies of documents satisfying items 1-7 above should be mailed to:

Kate Weaver
IABA Foundation Scholarship Committee
PO Box 369
Windsor, CT  06095
iaba@blackactuaries.org

Completed applications must be submitted by May 31, 2010.

Scholarships are awarded on the basis of individual merit and may be renewed at the discretion of the Board upon reapplication and continued eligibility. The amount of the award (typically ranges from $500 - $4,000/year) is determined by the IABA Foundation Scholarship Committee and is based on full-time status during the 2010-11 school year. The amount of the award will be adjusted for scholarship recipients that are not attending school on a full-time basis during the 2010-11 school year.  Scholarship awards are sent directly to the recipient's school.  Scholarship awards are NOT issued to the individual.

Please note: Depending on available funds and academic performance, scholarship recipients may be eligible to receive a one-time stipend for passing actuarial exams during the 2010 scholarship period (Fall 2010 - Spring 2011). Recipients are required to submit a letter notifying the IABA Foundation Scholarship Committee of their exam results along with a copy of their passing score from the SOA or CAS.