M.A. in Nutrition
The Master of Arts (M.A.) in Nutrition program at Illinois State University is a compre...
B.S. in Actuarial Science
Normal, Illinois
INTAKE: Jan, May & Aug
Program Overview
The B.S. in Actuarial Science at Illinois State University prepares students for careers as actuaries, professionals who assess and manage financial risks using mathematical and statistical models. This program provides a comprehensive education in probability, statistics, finance, and economics, essential for success in the insurance, finance, and consulting industries.
STEM-Designated: Illinois State University's B.S. in Actuarial Science is STEM-designated, emphasizing its rigorous curriculum in science, technology, engineering, and mathematics. This designation facilitates opportunities for international students and underscores the program's alignment with STEM-related industries, ensuring graduates possess technical expertise crucial for actuarial careers.
Curriculum: The curriculum covers core subjects such as calculus, probability theory, financial mathematics, risk management, and actuarial modeling. Students gain hands-on experience using statistical software and analyzing real-world data to solve complex financial problems. Advanced coursework includes topics like life contingencies, enterprise risk management, and insurance economics, preparing students for professional actuarial exams.
Research Focus: The program emphasizes research in actuarial science, risk assessment, and financial modeling. Students have opportunities to engage in independent research projects under faculty mentorship, exploring topics such as predictive modeling in insurance, financial derivatives pricing, health insurance analytics, and pension plan valuation.
Industry Engagement: Illinois State University maintains strong partnerships with insurance companies, financial institutions, and consulting firms, offering students internship placements, networking opportunities, and access to industry conferences. These collaborations provide practical experience in applying actuarial principles to real-world scenarios and enhance students' professional development.
Global Perspective: The B.S. in Actuarial Science program integrates a global perspective by examining international insurance markets, regulatory frameworks, and risk management practices. Students may participate in study abroad programs, collaborate on international research projects, or engage with multinational corporations, gaining insights into global financial trends and challenges.
Location
Normal, Illinois
Score
IELTS 6.5
Tuition Fee
USD 27010
Undergraduate Entry Requirements
Academic Qualifications: Applicants for undergraduate programs typically require a minimum academic achievement of 70% or above in their previous academic qualifications.
English Language Proficiency:
- IELTS: Overall band score of 6.5 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 79 or higher.
- PTE: Overall score of 53 or higher.
- DET (Duolingo English Test): Minimum score of 115.
ISU offers several scholarships and financial aid options for international students to help them pursue their academic goals. These scholarships are based on academic achievements, leadership skills, and other criteria.
International Tuition Waiver: International students who demonstrate exceptional academic performance and show promise for contributing to the ISU community may be eligible for tuition waivers. These waivers can significantly reduce the cost of tuition.
Redbird Academic Scholarship: This scholarship is awarded to incoming undergraduate international students who have outstanding academic records. The scholarship amount varies depending on the student's academic achievements.
Redbird International Ambassador Scholarship: This scholarship recognizes outstanding leadership skills and contributions to the international community. Recipients of this scholarship serve as ambassadors for international students at ISU.
College-Specific Scholarships: Various colleges within ISU offer scholarships for international students pursuing specific academic programs. These scholarships are often based on academic performance and potential for success in the chosen field of study.
Study Abroad Scholarships: ISU encourages international students to engage in study abroad programs to gain global experiences. The university offers scholarships to support international students' participation in these programs.
International students interested in applying for scholarships at ISU should review the specific eligibility criteria and application deadlines for each scholarship.
Graduates of Illinois State University's B.S. in Actuarial Science program are well-prepared for challenging and lucrative careers in various sectors where risk assessment, financial modeling, and data analysis are crucial.
Actuary: Many graduates pursue careers as actuaries in insurance companies, consulting firms, government agencies, or corporate finance departments. Actuaries assess financial risks, design insurance policies, and develop investment strategies using mathematical models and statistical techniques to ensure financial security and profitability.
Risk Analyst: With expertise in risk management and financial analysis, graduates find roles as risk analysts in banking institutions, investment firms, or regulatory agencies. They analyze market trends, evaluate credit risks, and develop strategies to mitigate financial losses and optimize investment decisions.
Insurance Underwriter: Some alumni specialize as insurance underwriters, assessing insurance applications, determining coverage limits, and setting premiums based on risk assessments. They collaborate with actuaries to evaluate policy risks and ensure profitability while maintaining competitive pricing in the insurance market.
Financial Consultant: Graduates may pursue careers as financial consultants, providing expert advice to businesses and individuals on financial planning, retirement strategies, and risk management. They use actuarial principles to analyze investment portfolios, assess financial goals, and recommend strategies to achieve long-term financial security.
Data Scientist specializing in Finance: With strong quantitative skills and knowledge of financial markets, some graduates work as data scientists specializing in finance. They analyze large datasets, develop predictive models for market trends, and optimize investment strategies using machine learning algorithms and statistical techniques.
Pension Fund Manager: Graduates with expertise in actuarial science may work as pension fund managers, overseeing retirement plans and investment portfolios for organizations or government entities. They manage fund assets, assess pension liabilities, and ensure compliance with regulatory standards to safeguard retirement benefits for employees.
