B.A. in Accounting
Lycoming's B.S. in Accounting provides two tracks for students: a 150-credit hour t...
B.A. in Actuarial Science
Williamsport, Pennsylvania
INTAKE: Jan & Aug
Program Overview
Lycoming's B.S. in Actuarial Science is tailored to prepare students for a dynamic career in a field consistently ranked among the top jobs for salary and demand. The program is specifically structured to align with the initial sequence of actuarial examinations (Exams P and FM) administered by the Society of Actuaries, aiming to equip graduates for immediate gainful employment in the actuarial profession upon completion. The curriculum goes beyond theoretical knowledge, integrating practical applications of mathematical models to predict future events and manage financial uncertainty.
Curriculum: The Actuarial Science major at Lycoming College is comprehensive, requiring 56 credits in mathematical sciences, alongside foundational courses in accounting, economics, and business. Core mathematics courses typically include Calculus/Analytic Geometry I & II, Introduction to Matrix Algebra, Multivariable Calculus, Foundations of Mathematics, Theory of Interest with Application, Mathematical Statistics I & II, and a capstone course from advanced topics in Actuarial Science or Numerical Analysis. Students also take courses like Introduction to Computer Science, Financial Accounting, and Principles of Economics. The curriculum is designed to help students fulfill the Validation by Educational Experience (VEE) requirements for actuarial designations in areas such as Economics, Applied Statistical Methods, and Corporate Finance, contingent on achieving a minimum grade of B- in specific courses.
Research Focus: Research is an embedded aspect of the Actuarial Science program at Lycoming College, fostering deep analytical skills. While there isn't a standalone "research focus" as a separate track, students are consistently engaged in rigorous problem-solving and the application of mathematical and statistical models to predict real-world outcomes. The demanding nature of the curriculum, especially in preparing for actuarial examinations, inherently involves intensive study and analysis of complex scenarios. Furthermore, individual students, like one international triple-major, have undertaken independent research projects and presented at academic conferences, demonstrating opportunities for in-depth scholarly work under faculty supervision, particularly within related fields like economics. The emphasis is on developing individuals who can critically evaluate data and derive meaningful insights.
Industry Engagement: Lycoming College strongly emphasizes practical industry engagement for its Actuarial Science students. The program actively supports students in pursuing competitive internships with leading companies in insurance, finance, and related sectors. Alumni success stories highlight placements at major firms like New York Life Insurance Company, Prudential Financial, Aetna Insurance, and Selective Insurance. The college's Center for Enhanced Academic Experiences plays a crucial role in connecting students with these vital internship opportunities and facilitating networking. The program's faculty, often with extensive professional experience, provide invaluable mentorship, preparing students not just for examinations but also for the realities of the actuarial profession. Students are strongly encouraged to pass actuarial examinations prior to graduation, a key industry benchmark.
Global Perspective: A global perspective is naturally integrated into Lycoming College's Actuarial Science program through the inherent international nature of risk management and finance. While the curriculum primarily focuses on preparing students for U.S. actuarial exams, the skills in statistical modeling, probability, and financial analysis are universally applicable across global markets. The college's diverse student body, including a significant number of international students, fosters cross-cultural exchange. Alumni placements in international locations, such as Prudential Financial in Milan, Italy, further illustrate the program's ability to prepare graduates for a globalized professional landscape. The broader liberal arts framework at Lycoming also encourages students to engage with global issues, implicitly enhancing their understanding of the diverse contexts in which actuaries operate worldwide.
Location
Williamsport, Pennsylvania
Score
IELTS 6
Tuition Fee
USD 49258
Undergraduate Entry Requirements
Academic Qualifications: Applicants for undergraduate programs typically require a minimum academic achievement of 65% or above in their previous academic qualifications.
English Language Proficiency:
- IELTS: Overall band score of 6.0 or 6.5 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 70 or higher.
- PTE: Overall score of 50 or higher.
- DET (Duolingo English Test): Minimum score of 100.
Lycoming College is attracting talented international students by offering generous and competitive scholarship opportunities. These scholarships help make a high-quality liberal arts education accessible and affordable for students from around the world, fostering a diverse and vibrant campus community.
Merit-Based Scholarships: All international applicants to Lycoming College are automatically considered for merit-based scholarships there is no separate application required. These scholarships reward academic excellence, leadership, and extracurricular achievements.
Renewable Scholarships: Scholarships awarded to international students at Lycoming are renewable for up to four years, provided that students maintain satisfactory academic progress and good standing with the college. This continuity offers financial stability throughout the undergraduate journey.
Need-Based Aid: In addition to merit scholarships, Lycoming College offers limited need-based financial aid to international students who demonstrate financial need. Students may be required to submit additional documentation to be considered for this aid. Need-based support complements merit awards to further reduce the overall cost of attendance.
Specialty Scholarships and Awards: Lycoming College occasionally provides targeted scholarships based on students’ fields of study, leadership qualities, or unique talents. International students are encouraged to inquire about available departmental awards or special grants during the admissions process.
A Bachelor of Science (B.S.) in Actuarial Science from Lycoming College is a highly specialized and rigorous program that provides graduates with a distinct competitive edge in the job market
Actuarial Analyst: This is the most direct and common entry-level role. Graduates work under the supervision of credentialed actuaries, applying mathematical and statistical models to analyze financial risks for insurance companies (life, health, property & casualty), pension funds, and financial institutions.
Pricing Actuary/Analyst: Specializing in product development, these professionals use actuarial techniques to determine appropriate premiums for insurance policies and other financial products, ensuring profitability and competitiveness.
Reserving Actuary/Analyst: These actuaries calculate the reserves companies need to hold to meet future financial obligations, crucial for the solvency and stability of insurance companies and pension plans.
Risk Management Analyst: Leveraging their expertise in identifying, assessing, and mitigating financial risks, graduates can work in various industries, helping organizations anticipate and manage potential threats to their financial stability.
Data Scientist/Quantitative Analyst: The strong statistical and mathematical modeling skills developed in an actuarial science program are highly transferable to data science roles. Graduates can work with large datasets to extract insights, build predictive models, and inform strategic decisions in diverse sectors.
Financial Analyst: While distinct from actuarial work, the quantitative and analytical skills acquired are highly relevant. Graduates can analyze financial data, evaluate investment opportunities, and provide financial guidance for individuals or corporations.
Underwriter: Underwriters assess the risk of potential clients and decide whether to accept or decline insurance applications, determining the terms and conditions of policies. Actuarial knowledge provides a deep understanding of the underlying risk factors.
Pension Consultant: Graduates can work for consulting firms, advising companies and government entities on the design, funding, and management of pension plans, ensuring their long-term solvency.
Investment Analyst: Actuarial science provides a strong foundation for understanding financial markets and investment strategies. Graduates can analyze investment opportunities, assess risk, and advise on portfolio management.
Consultant (Financial/Business): The ability to solve complex problems, analyze data, and communicate technical information clearly makes actuarial science graduates valuable as consultants, advising a range of businesses on financial strategy, risk management, and operational efficiency.
