Scholarship Opportunities for Obtaining your Actuarial Degree

Scholarship Opportunities for Obtaining your Actuarial Degree

There are very few types of degrees that can earn you some of the best salaries in the job market and actuarial science degree is one those degrees. Good thing about professions related to actuarial science is that they remain in demand all the time and economic factors of any specific area or country do not affect them in big scale. The main reason behind this is that most of the companies now focus on pricing of their products correctly and they want to secure their cash reserves for any other concerns. These objectives can be obtained unless they hire a professional with actuarial science degree. To avail an actuarial science degree there are several scholarship opportunities available for obtaining your actuarial degree.

What bodies offer Actuarial scholarships?

Actuarial science is the study of risks that are directly or indirectly linked with financial matters in future. An actuary helps companies and corporation to minimize that financial risk at the lowest level. It is also important to note that not all universities offer actuarial science degree programs. For some emerging students, getting a degree in actuarial science becomes difficult because of the costs involved. Options of getting an online actuarial degree are available but cost factor stops them to become an actuary. There are many universities that offer various types of scholarships. Usually, these scholarships are offered by private institutions, research bodies, corporations, colleges and individuals.

How to quality for Actuarial Scholarships?

Scholarships offered by different resources are based on academic achievements and leadership potential of students. A misconception about the many scholarships is that these are only made available for most active, most talented or brilliant students. Average or above average students cannot avail such scholarships. Well this is not 100% true. The fact is that most of the scholarships are designed in such a way that not only most active, talented and brilliant student can avail the scholarship opportunities but also students who lack exceptional academic background or students who require big financial assistance throughout their actuarial science degree program. If you are planning for Master’s degree in actuarial science, you can have a lot of scholarship opportunities for obtaining your actuarial degree. It is also depends on the school you are selecting for your actuarial science degree.

Like any other degree program, most of the universities offering actuarial science degree program also offer common scholarship opportunities such as scholarships for women, scholarship opportunities for minority etc. Some other degree specific scholarships are also offered by some universities like Harold W. Schloss Memorial Scholarship Fund, Actuarial Diversity Scholarship, International Associating of Black Actuaries Scholarship, Mutual of Omaha Actuarial Scholarship for Minorities and University of Connecticut Actuarial Diversity Scholarship.

Eligibility criteria to obtain scholarship for your degree in actuarial science could be different program to program or university to university. Normal conditions to obtain scholarship for actuarial studies are listed below:

• US or Canadian citizen or permanent resident of US.
• Student must be attending a college or university of US or Canada as a full time student and eligible to do so in coming academic year.
• Student requiring scholarship must appear for actuarial exams in most recent term.
• It is also very important for applicant of scholarship that they should have highest level of interest in actuarial science and must have deep interest in casualty actuarial profession, mathematical aptitude and must have extra ordinary communication skills both verbal & written.

It is important for any student pursuing for actuarial science degree that apart from their interest in the field they must have strong willingness to deliver the best not only for their profession but generally for humanity.