General Information
Check your financial aid in UIUC Self Service and subtract from Total Cost of attendance to find the amount of scholarship money that can be applied
Set Scholarship goals
There are countless scholarships available; you can’t apply to all of them
Plan your time wisely
Methods
First year applicants
Find scholarships that your qualify for
Make a priority list
Apply and keep track of how much money you win compared to how much you apply for
Keep applying until you hit your goal
Seasoned applicants
Set a goal
Determine success rate
Research Scholarships
Make a priority list
Add amounts down list until you reach goal
Apply for top scholarships dedicating more time and submitting higher quality applications for those
Letters of Recommendation
Ask someone who knows you and your academic or work performance
Ask early
Email is acceptable
Offer your resume, scholarship information, and any other materials that will help them write the letter
Transcripts
See if you need official or unofficial transcript
Official
Does it need to be sent straight to the organization or can you send it with the application?
Requires payment and processing time (Cannot be done night before)
Unofficial
Found in self-service under Registration and Records Tab
Once you receive an award:
send a thank you note to the scholarship foundation and donors
Learn how to apply scholarship to tuition
You may have to fill out a few forms
Make sure you continue to meet requirements
Reapply if you qualify in future years
Tips for Essays
Personal Statements:
General Structure
Background information
Explain the conflict or obstacle in your story
Describe the steps taken to overcome the obstacle
Define a particularly hard moment during the journey
Illustrate how you pushed through that difficult moment to reach your goal
Share how overcoming the conflict has impacted you as a person
Ask yourself: what have you learned from this experience that you will reference in your future life?
Business Problem Essay
There is no correct answer; they don't expect you to give them the perfect solution
The prompt is most likely on an emerging business problem; you'll be working with incomplete information
The foundation is testing your research skills, intuition, creativity, and effort
Most students will see this type of essay and stop the application process: don't get discouraged!
Write a 5-paragraph essay
Scholarships Through UIUC Actuarial Department
Actuarial Science Club Scholarship
Actuarial Science Alumni Scholarship
Axis Risk Management Academy Actuarial Science Scholarship
Bradley M. and Karen A. Smith Scholarship
CNA Foundation Scholarships
DW Simpson Actuarial Scholarship
Milliman Actuarial Science Scholarship
Northwestern Mutual Scholarships
State Farm Actuarial Science Prize
Willis Tower Watson Award
Information:
Various award amounts and criteria
Fill out one form to apply for all of them
Questions include:
Class standing
Citizenship
Race/Ethnicity
GPA
Exams passed
Internships completed
Honors
Extracurricular Activities
Career Goals
Resume
An ASRM professor will send out in email in the fall with the link to apply
Deadline in November
The Actuarial Foundation Scholarships
Actuarial Diversity Scholarship
Criteria
Must have at least one birth parent who is a member of one of the following minority groups:
Black/African American
Latinx
Native North American
Pacific Islander
Enrolling as or enrolled as a full-time undergraduate student at a U.S. accredited educational institution
Minimum cumulative GPA of 3.0 (on a 4.0 scale), emphasis on math or actuarial courses
Intent on pursuing a career in the actuarial profession
Deadline at beginning of June
Link for more information
Actuary of Tomorrow - Stuart A. Robertson Memorial Scholarship
Criteria
Applicant must be full-time student at a U.S
Must attend an accredited educational institution, entering as a Sophomore, Junior or Senior
Must have a minimum cumulative GPA of 3.0 (on 4.0 scale)
Must have successfully completed two actuarial exams
Deadline at the beginning of June
Link for more information
Curtis E. Huntington Memorial Scholarship
Criteria
Students must be enrolled as a full-time senior student at a U.S. accredited educational institution
Successful completion at least one actuarial examination
Minimum cumulative GPA of 3.0 (on 4.0 scale)
Must be nominated by a professor at their school
Deadline at the end of March
Link for more information
Elizabeth M. Mauro Reimbursement Program
Criteria
Must be 25 years or older by application deadline date
Must not have received any Actuarial Designation
Must be legally authorized to work in the U.S.
Must have passed at least one actuarial exam within the twenty-four months prior to application due date
Must not receive reimbursement for these exam registration fees and/or study materials from any other reimbursement program (including employee programs)
Deadline at the beginning of August
Link for more information
Other Scholarships
CAS Trust Scholarship
Criteria
Currently attend university as a full-time student and continue to attend as a full time student for following year
Have sat for at least one actuarial exam by March
Be a member of CAS Student Central
Submit application and essay
2 Recommendation letters
Current official Transcript
Deadline at the end of January
Link for more information
Midwestern Actuarial Forum Scholarship
Criteria
Currently attend university as a full-time student and continue to attend as a full time student for following year
Sat for one actuarial exam by the end of the year
Be a member of CAS Student Central
Preference given to residents or those attending schools in Midwest States(Illinois, Indiana, Iowa, Michigan, Minnesota, Ohio, Wisconsin)
Applicants should demonstrate high scholastic achievement and strong interest in the casualty actuarial profession, mathematical aptitude, and communication skills
Complete the 4-page MAF Scholarship application and attached essay
1 letter of recommendation
Current Official Transcript
Deadline in February
Link for more Information
NAMIC Mutual Insurance Scholarship
Criteria
Only students who are citizens of the United States and plan to find employment within the property/casualty insurance or fire science industries in North America are eligible
500 word essay describing what the scholarship means to the applicant and why he/she is interested in a career in the property/casualty insurance or fire science industry. We encourage prior recipients to acknowledge receipt of the scholarship in their essay
Deadline at the end of March
Link for more information
Central Illinois CPCU Society Scholarship
Criteria
Pursuing a major or minor in Business Administration, Actuarial Science, Risk Management or Insurance
Open to students in their junior year
Completed an internship in Risk Management, Insurance, or Actuarial Science
Completed one of the following:
One part of the CPCU or in pursuit of the CPCU designation
Participation with the Central Illinois CPCU Chapter
Existing participation in the mentor/mentee program
Participation in CICPCU workshops and/or chapter meetings/events (easiest method for actuaries)
Deadline in early December
WSIA Derek Hughes Scholarship Program
Criteria
Have an overall GPA of 3.25 or a major GPA of 3.5 or higher
Be a college sophomore, junior or senior enrolled full time in an undergraduate program and not graduating before Fall 2022
Satisfy one of the following substantive requirements:
Be pursing a Risk Management and/or Insurance (RMI) major, minor, or concentration; or
Have taken RMI courses; or
Have work experience in the insurance industry.
Plan to pursue a position in the excess and surplus lines industry upon graduation.
Resume shorter than 2 pages
Essay shorter than 500 words
Unofficial Transcript
Deadline at the beginning of March
Link for more information
Spencer Educational Foundation Scholarship
Criteria
Must seek a career in Risk Management/Insurance
Must be enrolled at an accredited college/university in the United States for the full 2023-24 academic year
Relevant work/internship experience and leadership skills preferred
Must be majoring/minoring in Risk Management/Insurance or a related field of study (e.g., actuarial science, business, finance, information technology)
Deadline at the end of January
Link for more information