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Thread: scholarship??

  1. #1
    Actuary.com - Newbie Poster
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    scholarship??

    Hi
    I'm a undergraduate student and am going to take the first actuarial exam soon.
    Besides the fact that I want to be an actuary, I'm taking this exam because my former high school teacher told me that for each actuarial exam I take, I receive $2000 annually for each test I pass.
    I wanted to ask him more about it but he's not answering my calls.
    Can anyone clarify this for me?
    Last edited by zerotg90; August 14th 2007 at 09:43 PM.

  2. #2
    Actuary.com - Level VI Poster
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    Quote Originally Posted by zerotg90 View Post
    Hi
    I'm a undergraduate student and am going to take the first actuarial exam soon.
    Besides the fact that I want to be an actuary, I'm taking this exam because my former high school teacher told me that for each actuarial exam I take, I receive $2000 annually for each test I pass.
    I wanted to ask him more about it but he's not answering my calls.
    Can anyone clarify this for me?
    Maybe there is such a program or a scholarship out there that will pay for exams, but my guess is that your informant is trying to describe what it will be like for you once you get an actuarial job.

    It is the norm for people with an actuarial job to get raises of $2K-$5K for every exam passed once you are part of the company's study program. However, if your former teacher is not talking about an actuarial job, then you should ask him/her for more information.

    To my knowledge, there is no program or scholarship out there that will simply award you $2K a year for every actuarial exam you've passed while in college. If there is, I've certainly missed out - I completed 3 exams while in college and could have used the extra money. There are just too many exam takers out there coming out of college with at least 2 exams completed for anyone to offer that kind of award.

  3. #3
    Author, Instuctor and Seminar Provider krzysio's Avatar
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    Quote Originally Posted by zerotg90 View Post
    Hi
    I'm a undergraduate student and am going to take the first actuarial exam soon.
    Besides the fact that I want to be an actuary, I'm taking this exam because my former high school teacher told me that for each actuarial exam I take, I receive $2000 annually for each test I pass.
    I wanted to ask him more about it but he's not answering my calls.
    Can anyone clarify this for me?
    Once you have an actuarial job, that's about the level of a raise you get for each exam passed. If you are an actuarial student at Illinois State University, and have at least 3.7 GPA overall, 3.8 in the major (i.e., in actuarial classes), at least 3.7 GPA in high school, at least 28 ACT overall (or equivalent SAT) and at least 31 in Mathematics ACT (or equivalent SAT), you can get an annual scholarship of $2000, and the scholarship is increased by $250 per semester for each actuarial exam passed. This on top Illinois State being probably the least expensise advanced actuarial school in the country (no scientific data to support this, only the study cited at Illinois State University web site).

    Yours,
    Krzys' Ostaszewski
    Want to know how to pass actuarial exams? Go to: smartURL.it/pass

  4. #4
    Author, Instuctor and Seminar Provider krzysio's Avatar
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    Quote Originally Posted by wat View Post
    To my knowledge, there is no program or scholarship out there that will simply award you $2K a year for every actuarial exam you've passed while in college. If there is, I've certainly missed out - I completed 3 exams while in college and could have used the extra money. There are just too many exam takers out there coming out of college with at least 2 exams completed for anyone to offer that kind of award.
    Illinois State does. I have described the program in the previous post. But must have a high GPA and high ACT/SAT scores. You should have come to study with us.
    Yours,
    Krzys'
    Want to know how to pass actuarial exams? Go to: smartURL.it/pass

  5. #5
    Author, Instuctor and Seminar Provider krzysio's Avatar
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    The web site for scholarships at Illinois State is: http://www.math.ilstu.edu/actuary/scholarships.html
    Yours,
    Krzys'
    Want to know how to pass actuarial exams? Go to: smartURL.it/pass

  6. #6
    Actuary.com - Level VI Poster
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    Quote Originally Posted by krzysio View Post
    Illinois State does. I have described the program in the previous post. But must have a high GPA and high ACT/SAT scores. You should have come to study with us.
    Yours,
    Krzys'
    Impressive. Given the requirements you listed, I would've qualified. It probably would've been a higher net cost for me, though - I attended my own state school and managed to get a 4-year education for a little less than $12K.

  7. #7
    Actuary.com - Level VI Poster Ken's Avatar
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    Maybe ISU's different, but at my school, maintaining a GPA that high in any type of science major is almost unheard of.
    Whether you are the lion or the gazelle, when the sun comes up, you better be running.

  8. #8
    Author, Instuctor and Seminar Provider krzysio's Avatar
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    Quote Originally Posted by Ken View Post
    Maybe ISU's different, but at my school, maintaining a GPA that high in any type of science major is almost unheard of.
    We required 3.0 at first, and people had a hard time keeping up with it. Then we raised the requirements to 3.5, and students worked harder and better students came. Then we raised it to 3.7/3.8, and we have too many applicants and too many students meeting the criteria.

    The reality of it is that in education, as you raise the expectations, students study harder. The worst thing to do is what American high schools do: lower the requirements, complain about the stress, and feed the students massive amount of political propaganda. American high school students should demand that all social studies classes be replaced by mathematics.

    Yours,
    Krzys'
    Want to know how to pass actuarial exams? Go to: smartURL.it/pass

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