Actuarial Scholarships

PURPOSE

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

ELIGIBILITY

The International Association of Black Actuaries (IABA) scholarship program is available to students of African descent in the actuarial profession and originating from the United States, Canada, Caribbean and African nations. An applicant must be one of the following:

• United States citizen
• Canadian citizen
• United States Permanent Resident
• Canadian Permanent Resident
• United States Student on a student visa (F1, J1 etc.)
• Canadian Student on student authorization

Relatives or employees of any officers, board members or committee members of the IABA or the IABA Foundation are not eligible.

Scholarship applicants should have taken the Scholastic Aptitude Test (SAT), the ACT Assessment, or equivalent testing results for students outside of the USA.

Applicants must be admitted to a college or university offering either a program in actuarial science or courses that will serve to prepare the student for an actuarial career. An applicant must have demonstrated mathematical ability and an understanding of and an interest in an actuarial career.

Scholarship recipients often demonstrate the following:

• A GPA of at least 3.0 on a 4.0 scale
• A Math SAT score of at least 600 or an ACT Math score of at least a 28
• Calculus and Probability courses are completed
• A junior, senior or graduate student in the Fall 2008 semester
• Attempting (or already passed) an actuarial exam
• 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

Criteria considered that will likely prevent an applicant from receiving a scholarship:

• Limited math background
• Having a GPA that is lower than a 3.0 on a 4.0 scale
• Having a Math SAT score lower than 600 or a Math ACT score lower than 28

PROCEDURE

All information is confidential and an application is considered complete ONLY when:

1. The online Actuarial Scholarships Application is completed.
2. Two nomination forms, completed by instructors and/or advisors at your educational institution who know you well, are sent directly from your educational institution.
3. An official, sealed current college transcript is 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. An official, sealed record of any educational examination scores taken (PSAT, SAT, ACT, etc.) is submitted.
5. A Student Aid Report (SAR) showing your financial data is included. If it is not included, a written explanation why this document is not included should be submitted.
6. 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 is included.

NOTE: ALL MATERIALS MUST BE SUBMITTED. ANY INCOMPLETE APPLICATIONS WILL NOT BE REVIEWED.

Copies of documents satisfying items 2, 3, 4, 5 and 6 above should be mailed to:

Claudia R. Campbell, ASA
IABA Foundation Scholarship Committee
c/o Mosher & Associates
19 South LaSalle Street, Suite 1400
Chicago, IL 60603
iabafdvp@blackactuaries.org

Completed applications must be submitted no later than by May 21, 2008. 

AMOUNT OF SCHOLARSHIP

Scholarships are awarded on the basis of individual merit and financial need and are renewable upon reapplication and continued eligibility. The amount of the award is determined by the IABA Foundation Scholarship Committee and is based on full-time status in the 2008-09 school year. The amount of the award will be pro-rated for scholarship recipients that are not attending school on a full-time basis in the 2008-09 school year.

Please note: Scholarship recipients may be eligible to receive a one-time stipend for passing actuarial exams during the 2008 scholarship period (Fall 2008 – Spring 2009). 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.

Actuarial Scholarships

The International Association of Black Actuaries (IABA) scholarship program is available to students of African descent in the actuarial profession and originating from the United States, Canada, Caribbean and African nations.

Eligibility Requirements:

• United States citizen, Canadian citizen, United States Permanent Resident, Canadian Permanent Resident, United States Student on a student visa (F1, J1 etc.) or a Canadian Student on student authorization.
• Admitted to a college or university offering either a program in actuarial science or courses that will serve to prepare the student for an actuarial career.
• Demonstrated mathematical ability and an understanding of and an interest in an actuarial career.
• High scholastic achievement.
• Must not be relatives or employees of any officers, board members or committee members of the IABA or the IABA Foundation.

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