The scholarship program is available to 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.

Note: Any officers, board members, or IABA Foundation Scholarship Committee members, or immediate relatives or employees of officers, board members or IABA Foundation Scholarship Committee members are not eligible.