STEM Stars - Actuarial Scholars Program

STEM Stars – Actuarial Scholars Program

More than a scholarship

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!

The 2023-2024 Application Period Is Now Open

Frequently Asked Questions

+ $20,000 in college scholarships ($5,000 annually for four years)

+ Mentoring by practicing actuaries and professionals

+ Summer internships and/or work-study opportunities

+ Academic support in mathematics (if needed)

+ Recognition as a member of a STEM Stars cohort (limited to 20 individuals)

+ Participation in a free week-long Summer Intensive Workshop

An aspiring actuary can look forward to a well-paying and long-tenured career. In fact, early-career actuaries can earn between $50,000 and $70,000, and compensation generally increases in line with the number of exams passed and years of experience. Although the “traditional” career placement route for actuarial sciences students has been in the insurance industry, there are emerging, high-growth opportunities in data analysis, operations research, predictive analytics and market research.

The primary goal of the STEM Stars Actuarial Scholars Program is to increase diversity in the actuarial profession through a scholarship program for Black/African American, Latinx, Native North American and Pacific Islander students. Available to students in US who meet eligibility criteria.

STEM Stars is being piloted at high schools where the Foundation has strong existing relationships.

The STEM Stars Actuarial Scholars Program application period is now open for the 2023-2024 school year. Apply today!

STEM Stars Actuarial Scholars Program Overview

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