Actuarial Science
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions. Actuaries are professionals trained in this discipline. In many countries, actuaries must demonstrate their competence by passing a series of rigorous professional examinations.
Actuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, and computer science. Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes since the 1980s due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory (Frees 1990).
Many universities have undergraduate and graduate degree programs in actuarial science. In 2010, a study published by job search website CareerCast ranked actuary as the #1 job in the United States (Needleman 2010). The study used five key criteria to rank jobs: environment, income, employment outlook, physical demands, and stress. A similar study by U.S. News & World Report in 2006 included actuaries among the 25 Best Professions that it expects will be in great demand in the future (Nemko 2006).
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Matching Actuarial Science Colleges
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Drexel University
Four or more years; Private not for profit; $54,766 average out-state tuition; $54,766 average in-state tuition |
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University of Illinois Urbana-Champaign
Four or more years; Public; $34,444 average out-state tuition; $14,446 average in-state tuition |
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Carnegie Mellon University
Four or more years; Private not for profit; $57,560 average out-state tuition; $57,560 average in-state tuition |
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University of Connecticut
Four or more years; Public; $37,698 average out-state tuition; $15,030 average in-state tuition |
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Ohio State University-Main Campus
Four or more years; Public; $34,101 average out-state tuition; $11,018 average in-state tuition |
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University of Nebraska-Lincoln
Four or more years; Public; $24,900 average out-state tuition; $7,770 average in-state tuition |
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University of California-Los Angeles
Four or more years; Public; $41,196 average out-state tuition; $11,442 average in-state tuition |
Scholarships for Actuarial Science Majors
Siebel Scholars ProgramSiebel Scholars Foundation |
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award $35,000 |
deadline Varies |
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DescriptionThe Siebel Scholars Program is open to the most talented students at the world's leading graduate schools of business, computer science, bioengineering, and energy science. View Scholarship Details |
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Nancy Shaw McKee ScholarshipClarion University of Pennsylvania, College of Arts and Sciences |
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award Up to $22,030 |
deadline Varies |
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DescriptionThe Nancy Shaw McKee Scholarship is available to majoring in the College of Arts and Sciences at Clarion University. Your selection for this award will be based on academic performance and financial need. In order to be considered for this award, you must first be nominated by a faculty member. Once nominated, you will need to submit a "Goals... View Scholarship Details |
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Boyer FellowshipUniversity of Arkansas |
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award $20,500 |
deadline February 01, 2026 |
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DescriptionThe Boyer Fellowship is available to incoming freshmen who plan on majoring in the Walton College of Business at the University of Arkansas. You must be an Arkansas high school graduate, demonstrate financial need, have a minimum 3.8 GPA and an ACT/SAT score of at least 32/1400 to qualify for this award. View Scholarship Details |
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Huizenga Business Innovation Academy ScholarshipNova Southeastern University |
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award $20,000 |
deadline Varies |
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DescriptionThe Huizenga Business Innovation Academy Scholarship is available to students at Nova Southeastern University who are interested in earning a bachelor's and master's degree in business in four years. To be eligible for this award, you must hae employment or internship experience and have been a member of a local/national student business club... View Scholarship Details |
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KMF Professional Excellence Scholarship ProgramKohlberg-Manacher Foundation |
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award $15,000 |
deadline May 15, 2025 |
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DescriptionThe KMF Professional Excellence Scholarship Program is open to college juniors and seniors who are from lower income families. You must have a minimum GPA of 3.3, be majoring in Business, Economics, Computer Science, or Data Science, and demonstrate maturity, ambition, high achievement, and have an entrepreneurial mindset in order to be... View Scholarship Details |
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Women in Business - Miss America PageantMiss America Pageant |
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award Up to $10,000 |
deadline Varies |
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DescriptionThe Women in Business Scholarship is available to women who are contestants at the state level in the Miss America competition. Selection is based on accomplishments in the area of business and social impact. View Scholarship Details |
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3M Business Development FellowshipUniversity of Minnesota, Carlson School of Management |
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award $10,000 |
deadline Varies |
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DescriptionThe 3M Business Development Fellowship is open to domestic MBA students at the University of Minnesota, Carlson School of Management. You must have a science, technology, and/ or engineering background and wish to participate in the Carlson Ventures Enterprise to qualify for this award. View Scholarship Details |
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UNCF/CVS Health Foundation Health Care Careers ScholarshipUNCF, Inc |
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award $10,000 |
deadline May 15, 2025 |
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DescriptionThe UNCF/CVS Health Foundation Health Care Careers Scholarship is available to full-time, junior-level undergraduate students who identify as African American/Black or Latino/a/e. To be considered for this renewable award, you must be majoring in pharmacy, nursing, business management, biology, biochemistry, finance, operations/supply chain,... View Scholarship Details |
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Philip Breitman Memorial ScholarshipUniversity of Wisconsin, Eau Claire - College of Business |
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award $8,900 |
deadline Varies |
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DescriptionThe Philip Breitman Memorial Scholarship is open to junior and senior business students at the University of Wisconsin, Eau Claire. You must display talent and good citizenship, as well as be able to demonstrate financial need to be considered for this award of one year of academic fees. View Scholarship Details |
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Honors Scholarship - Bethel College, KansasBethel College - Kansas |
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award $7,500 |
deadline Varies |
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DescriptionThe Honors Scholarship is available to incoming freshman students at Bethel College, Kansas, who demonstrate outstanding ability in chemistry, history, psychology, business, or art. View Scholarship Details |
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Actuarial Science Related Majors
- Business Administration, Management and Operations
- Business, Management, and Marketing
- Marketing
- Accounting and Business/Management
- Finance and Financial Management Services
- Accounting and Finance
- International Business
- Fashion Merchandising
- Human Resources Management and Services
- Entrepreneurial and Small Business Operations
- Business
- Business and Personal/Financial Services Marketing Operations
- Hospitality Administration/Management
- Real Estate
- Management Information Systems and Services
- Small Business Administration/Management
- Fashion Modeling
- Business/Managerial Economics
- Entrepreneurship/Entrepreneurial Studies
- Construction Management
