Prizes, Awards, and Scholarships ranging in value from $500 to $25,000 are available to Undergraduate, MBA and Ph.D. students studying in the fields of Actuarial Science and Insurance and Risk Management.
Scholarships offered by the Insurance and Risk Management Department
Elias B. Cohen Scholarship. A $1000 prize is awarded each year to the Wharton School senior who majors or minors in actuarial science or insurance and risk management who demonstrates the greatest initiative and innovation in the pursuit of his or her professional studies.
Richard de Raismes Kip Prize in Insurance and Risk Management. A $1,000 prize is awarded annually to the outstanding graduating senior in the field of risk management and insurance.
Reimbursement of Actuarial Fees. The Insurance and Risk Management Department will reimburse Penn undergraduate students for exam fees paid to the Society of Actuaries or the Casualty Actuarial Society. The fee for Exam P/1 will be reimbursed to any Penn undergraduate student. The fee for exam FM/2 will be reimbursed to students who have taken or who are enrolled in INSR 251. The fee for exam M/3 will be reimbursed to students who have taken at least three actuarial courses.
Receipt slips sent by the Society of Actuaries / Casualty Actuarial Society need to be turned in by the end of June (May session) or December (November session) to Margarita Maisonet, Business Administrator, 3416 SH-DH.
Should funds allocated to this program be insufficient to refund 100% of exams fees. The Department reserves the right to limit refunds by means of a deductible or co-pay. The Department may even suspend the program, should funds not be available for a given exam session.
This program is sponsored by Cigna and Mercer.
Doctoral Research Fund. This Fund has been established at the Wharton School to help support Insurance and Risk Management doctoral student research, including the purchase of research-related books, data, and software useful for doctoral student research; student travel to conferences to present research studies; fees associated with research journal submissions for student research; and student research-related expenses including duplication and manuscript preparation. Contributions to this Fund are tax deductible and should be made out to the Trustees of the University of Pennsylvania, attention Margarita Maisonet.
All interested students must apply before February 15th to
Margarita Maisonet, Business
Administrator, Insurance and Risk Management Department, 3620
Locust Walk, Suite 3000, Philadelphia, PA 19104-6302. A resume, a copy of the candidate's transcript,
and, if applicable, a copy of the Society of Actuaries notification of exam scores, should
be enclosed with the application letter. Decisions made by the Scholarship Committee of
the Insurance and Risk Management Department are final and cannot be appealed. The
committee reserves the right not to award a prize if the merits of the applicants do not
meet the high standards required by those scholarships.
Other Scholarships
Additional scholarships in amounts of up to $25,000 are available to students in actuarial science, employee benefits, insurance, and risk management through national and international competitive award programs. Information about these scholarships is available through the Insurance and Risk Management Department, 3620 Locust Walk, Suite 3000, Philadelphia, PA 19104-6302. These scholarships include:
Insurance Scholarship Foundation of America: Scholarships to juniors or seniors majoring or minoring in insurance, risk management, or actuarial science. Application and information available at www.inssfa.org. Deadline: February 15.
Need- and merit-based $5,000 scholarships awarded to students enrolled in a four-year insurance, risk management, or actuarial science program. Deadline: January 1. Information: Angus Robinson Jr. Memorial Foundation, 166 High Meadow Road, Southport, CT 06490, phone (203) 977-8064
$5,000 awards for junior and senior undergraduates, $10,000 awards for graduate and pre-dissertation PhD students. Deadline: March 1. Information and applications: www.spencered.org
$25,000 awards for doctoral students engaged in research related to retirement and Social Security policy issues. Information and applications: www.mrrc.isr.umich.edu/training/sandell.html
Woody Scholarships, Actuarial Education and Research Fund
$2,000 scholarships for actuarial students. Deadline: End of June. Information and applications: www.soa.org
Ph.D. Grants, Society of Actuaries and Casualty Actuarial Society
$10,000 grants, renewable up to two times, for actuarial students admitted to Ph.D. candidacy. Deadline: March 1. Information and applications: www.soa.org
Information: call State Farm at (309) 766-2161, or check www.statefarm.com/foundati/doctoral.htm
Awarded to the best doctoral dissertation in the field of social insurance. Deadline: July 30. Information and applications: www.nasi.org
African American, Hispanic, and Native North American actuarial students do not need to pay exam fees for Course 1. Application: www.beanactuary.org
Minority Scholarships, Society of Actuaries
Merit- and need-based renewable scholarships for African American, Hispanic, and Native North American actuarial students. Variable amounts. Cash award of $500 per exam passed. Deadline: May 1. Application: www.beanactuary.org
CAS Trust Scholarship Program
$1,500 for CAS-bound actuarial students. Applications: www.beanactuary.org
DW Simpson & Co. Actuarial Science Scholarship Program
$1,000 for actuarial students entering their senior year. Applications: www.beanactuary.org
CAS Trust Scholarship Program.
$1,500 merit-based scholarships offered by the Casualty Actuarial Society. Reserved to US citizens and residents. Must have passed at least one exam. Deadline: May 1. Information and application forms: www.casact.org/academ/scholarship.htm