Application deadlines: May 1 for Fall Semester; October 1 for Spring Semester
Application fee: $80
Intakes: Fall, Spring
International tuition: $31,628
Domestic tuition: $9,830
Iowa has one of the nation’s oldest and most prestigious actuarial science programs. Its internationally known faculty, its students’ high success rate on professional exams, and its graduates’ high job placement rate have earned the program a reputation as perhaps the best in the country. Actuarial science class sizes are generally small to moderate, so you'll have ample opportunities to interact with instructors. Iowa’s program is rigorous and its students are academically strong. They receive thorough training in mathematics, probability, and statistics—one reason they enjoy such great success on professional exams. Most have a grade-point average (GPA) well above 3.00, especially in calculus and statistics. Admission to the actuarial science program requires completing prerequisite courses in calculus, computer science, linear algebra, probability, statistics, economics, and financial mathematics. Courses relating to communication skills, such as writing and speaking, are also important. Actuarial science students are encouraged to explore areas related to the major. For example, you'll be able to take courses offered by the Vaughan Institute of Risk Management and Insurance and the Department of Finance in the Tippie College of Business. Many actuarial science students earn a second major in mathematics or statistics, a minor in business administration, or a certificate in risk management and insurance. Students also have the opportunity to learn during summer internships and at on-campus presentations. Many companies visit Iowa and hold receptions during fall semesters.
This program can be done
Completion of academic upper secondary school (generally a total of 12-13 years of primary and secondary education); A corresponding secondary school diploma or leaving certificate; Above-average grades in a secondary school program that is university-preparatory in nature; English Proficiency Requirements: TOEFL iBT - Total score 80, no part score under 17 IELTS - 6.5, no part score under 6 DuoLingo (DET) - Score of 105+
Most actuaries are employed by insurance companies or employee benefits consulting firms. They have responsibilities related to all phases of product development and maintenance for their companies. Individual employers who need guidance in establishing employee insurance and retirement programs also hire actuarial science graduates. A growing number of actuaries work in asset/liability management, some in investment firms, and others in insurance companies. Actuaries are in high demand and earn good salaries. Most Iowa graduates find work as actuaries, but some become financial managers and teachers. They take positions in locations all across the country, often in large metropolitan areas.
Iowa City , United States