The scholarship program is available to black students of African descent originating from the United States, Canada, the Caribbean and African nations.
Applicants must meet the following requirements:
- A citizen or permanent resident of the United States; or a citizen or permanent resident of Canada, a citizen of any Caribbean or African nation on a United States or Canadian student visa;
- Admitted to a college or university in the United States or Canada offering either a program in actuarial science or courses that will serve to prepare the student for an actuarial career;
- Have a GPA of at least 3.0 on a 4.0 scale.
Applicants will also be judged on the following criteria:
- Calculus and Probability courses already completed;
- Scholastic Aptitude Test (SAT) with a minimum math score of 600 or the ACT Assessment with a minimum math score of 28, or equivalent testing results for students outside of the USA;
- Attempting (or already passed) an actuarial exam;
- Completing (or already completed) Validation by Educational Experience (VEE) requirements;
- Proficient communication skills;
- Evidence of determination and self-motivation;
- A demonstration of interest in and a familiarity with the actuarial profession.
IABA Scholarship recipients are required to serve on an IABA committee for one year. Future portions of the scholarship amount are contingent upon fulfilling the service requirement.
Note: Any officers, board members, or IABA Scholarship Committee members, or immediate relatives or employees of officers, board members or IABA Scholarship Committee members are not eligible.