Prizes, Awards, and Scholarships for Actuarial Students

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.



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.

Northwestern Mutual Actuarial Fellowship. A $1,000 award is presented each year to an outstanding graduating senior with a concentration in Actuarial Science, or a University Minor in Actuarial Mathematics, who has shown commitment towards an actuarial career by passing at least two actuarial exams.

Actuaries Club of Philadelphia Scholarship. A $500 prize is awarded annually to a student who demonstrates outstanding dedication to the field of actuarial science through inspired leadership in University-based actuarial activities and classes, successful completion of multiple actuarial exams, and service in support of others in the actuarial sciences through active participation in the Penn Actuarial Society.


All interested students must apply before October 15th to Carol Reich, Business Administrator, Statistics Department, 3730 Walnut Street, 411 Jon M. Huntsman Hall, Philadelphia, PA 19104-6340. 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. One cover letter will be accepted from students applying for multiple scholarships. Decisions made by the Scholarship Committee 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.


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. Note that application deadlines change frequently, students should check web sites for current deadlines. These scholarships include:

  • Angus Robinson Jr. Memorial Foundation
    Need- and merit-based $5,000 scholarships awarded to students enrolled in a four-year insurance, risk management, or actuarial science program. Deadline: December 1. Information: Angus Robinson Jr. Memorial Foundation, 166 High Meadow Road, Southport, CT 06490, phone (203) 977-8064.
  • Spencer Educational Foundation Scholarships
    $5,000 awards for junior and senior undergraduates, $10,000 awards for graduate and pre-dissertation PhD students. Deadline: January 30 1. Information and applications:
  • 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:
  • $1,000 John Heinz Dissertation Award Competition
    Awarded to the best doctoral dissertation in the field of social insurance. Deadline: July 30. Information and Applications:
  • Waiver of exam fees for course P and FM, Society of Actuaries
    African American, Hispanic, and Native North American actuarial students do not need to pay exam fees for Courses P and FM. Application:
  • IASA Scholarships
    Several scholarships for actuarial students, $500 to $2,000, from the Insurance Accounting and Systems Associations.  Deadline: March 1.  Check
  • Reimbursement of Actuarial Fees
    PhD students can obtain reimbursement from the Society of Actuaries for passing exams MLC, MFE, C, FAP and fellowship exams. Application:
  • 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:
  • 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:
  • CAS mid-Atlantic Region Award
    The Casualty Actuaries of the mid-Atlantic Region award four annual $5,000 awards for actuarial students from the Philadelphia area.  Awards are restricted to US citizens and permanent residents, rising undergraduate seniors, at least one actuarial exam. It is not required to have selected the CAS path. Deadline: around April 1st.  Search for CAMAR in