The actuarial profession has a diversity challenge. Research shows dramatic disparities in career attainment for minorities. The Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) estimate that only 2.7% and 1.5%, respectively, of U.S members are Black. Latinx members only make up 1.9% and 1.8%, and Native American members are only .5% of the total CAS membership in the U.S.
Many scholarship programs have been developed to increase diversity, yet the needle hasn’t moved. A new approach is needed.
Enter STEM Stars, a new scholarship program from The Actuarial Foundation and its Founding Partner, the SOA, and other corporate supporters. The STEM Stars Actuarial Scholars Program identifies, recruits and supports skilled high school students interested in the field. We believe we can finally move the needle by providing help that starts in high school, extends into college and continues through a career.
The new STEM Stars Actuarial Scholars Program offers high school seniors a scholarship of $20,000 ($5,000 annually for four years). Along with financial support, it includes mentoring, tutoring, immersion experiences and exposure to internships and job shadowing opportunities.
Congratulations to the first cohort of STEM Stars Actuarial Scholars Program students!
