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Best Colleges for Actuarial Science: 10 Top-Ranked Picks
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Best Colleges for Actuarial Science

Best Colleges for Actuarial Science: 10 Top-Ranked Picks

Actuarial science is a fascinating field that combines mathematics, statistics, and financial theory to assess and manage risks in various industries, particularly in insurance and finance. Actuaries, the professionals in this field, use their analytical skills to analyze data, evaluate potential risks, and make informed decisions that impact financial stability.

If you're considering a career in this field, choosing the right college is a significant first step. To make this decision easier for you, experts at our college essay writing services compiled a list of the best colleges for actuarial science.

In this article, you'll find rankings, SAT score ranges, acceptance rates, scholarship information, and more to guide you in selecting the perfect actuarial science colleges for your academic endeavors.

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University of Pennsylvania

University of Pennsylvania

Global Score
12
Average Total Aid Awarded
$50,778
Students Receiving Financial Aid
63%
Net Price/Per Year
$14,578
SAT range
1480-1570
Overall Niche Grade
A+
Acceptance Rate
6%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

The University of Pennsylvania, renowned for its Wharton School of Business, offers an exceptional actuarial science degree program marked by academic excellence and a challenging curriculum. The curriculum includes core courses in advanced statistics and finance, covering topics such as calculus, probability, and risk management to establish a strong foundation for practical applications.

Students with a robust math background in the actuarial science degree are well-prepared for professional exams by the Society of Actuaries or the Casualty Actuarial Society. The program includes STAT 451, a course introducing actuarial science with benefits extending to personal finance. While many students often double-concentrate in finance, it is not obligatory, and additional skills in computer science, statistics, finance, and languages can be advantageous but are not essential for securing employment post-graduation.

The university actively facilitates students in obtaining internships with leading companies in the field, offering valuable practical experience that enhances resumes and equips students for the competitive job market.

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Teachers

Jason Altschuler

Ph.D.

Assistant Lecturer.

Bhaswar B. Bhattacharya

Ph.D.

Associate Instructor.

Tony Cai

Ph.D.

Instructor of Statistics and Data Science.

Eric J. Tchetgen Tchetgen

Ph.D.

Lecturer of Biostatistics in Biostatistics and Epidemiology.

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Carnegie Mellon University

Carnegie Mellon University

Global Score
52
Average Total Aid Awarded
$39,421
Students Receiving Financial Aid
59%
Net Price/Per Year
$37,450
SAT range
1480-1560
Overall Niche Grade
A+
Acceptance Rate
14%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

Carnegie Mellon University, renowned for its strong emphasis on technology, innovation, and interdisciplinary education, provides robust actuarial science programs that combine quantitative analysis with cutting-edge technology.

The university offers a diverse range of degree programs and concentrations within the department, reflecting its commitment to outstanding research and teaching in applicable mathematics. The degree allows students to choose concentrations aligned with their interests, such as Operations Research and Statistics, Statistics, Discrete Mathematics & Logic, and Computational and Applied Mathematics.

For a more interdisciplinary approach, the university provides an Honors Degree Program and a Bachelor of Science and Arts program, allowing students to study actuarial science and mathematics with studies in any of the five schools in the College of Fine Arts. Additionally, the Bachelor of Science in Mathematics and Economics is a flexible program that enables students to delve into both fields of study.

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Teachers

Jeremy Avigad

Ph.D.

Lecturer of Philosophy and Mathematical Sciences, Director of the Charles C. Hoskinson Center for Formal Mathematics.

Irene Fonseca

Ph.D.

Professor, Director of the Center for Nonlinear Analysis.

David Kinderlehrer

Ph.D.

Alumni Professor of Mathematical Sciences, Professor of Materials Science and Engineering.

Dmitry Kramkov

Ph.D.

Professor of Mathematical Finance, Director of Center for Computational Finance.

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New York University

New York University

Global Score
38
Average Total Aid Awarded
$25,047
Students Receiving Financial Aid
78%
Net Price/Per Year
$50,991
SAT range
1450-1570
Overall Niche Grade
A+
Acceptance Rate
13%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

New York University's actuarial science degree focuses on assessing and managing risk for insurance companies and pension plans. The curriculum provides a comprehensive blend of mathematical and business elements crucial for actuarial training. The program is designed to equip students to pass the initial four examinations administered by the Society of Actuaries and the Casualty Actuarial Society. 

To declare a concentration in this program, actuarial science students need to complete a concentration declaration form on Stern Life. The coursework comprises 31 credits, including essential subjects such as Probability Theory, Mathematics of Investment, Corporate Finance, and Calculus series, along with Linear Algebra and two Advanced Electives.

Students can choose from a list of approved advanced electives, such as Applied Stochastic Processes for Financial Models, Statistical Inference and Regression Analysis, Forecasting of Time Series Data, Introduction to Stochastic Processes, and Life Contingencies. While only two electives are required, students are encouraged to take additional courses from the list to better prepare for actuarial exams.

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Teachers

Aaron Tenenbein

Ph.D.

Lecturer of Technology, Operations, and Statistics.

Peter Lakner

Ph.D.

Associate Instructor of Statistics and Operations Research.

Mor Armony

Ph.D.

Vice Dean of Faculty and Instructor of Technology, Operations, and Statistics.

Natalia Levina

Ph.D.

Instructor of Information Systems.

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University of Georgia

University of Georgia

Global Score
51-60
Average Total Aid Awarded
$11,045
Students Receiving Financial Aid
94%
Net Price/Per Year
$16,902
SAT range
1270-1450
Overall Niche Grade
A+
Acceptance Rate
40%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

The University of Georgia's Risk Management and Insurance Program provides an Actuarial Science Certificate open to qualified undergraduate students, irrespective of their major. This certificate is tailored to prepare students for a career as actuaries, who apply mathematical models to measure and manage risk in various financial sectors like insurance companies, banks, investment firms, government agencies, and consulting firms.

The actuarial science degree program integrates coursework in mathematics, probability, statistics, risk management, economics, and finance. Upon acceptance into the certificate program, students can join the Insurance Society and Gamma Iota Sigma, gaining access to benefits like scholarships, career events, and exam reimbursements.

Eligibility for the actuarial science programs requires a minimum overall GPA of 2.6 and a minimum grade of C in MATH 2250 and MATH 2260 (or equivalent courses).

Prerequisites include MATH 2250 (Calculus I) and MATH 2260 (Calculus II), or their equivalents. Students must complete a minimum of 21 credit hours, maintaining a minimum grade of C (2.00) in core courses and two-course sequences.

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Teachers

Steven Pottier

Ph.D.

Lecturer, Risk Management and Insurance Program.

Mariana Andrade

Ph.D.

Assistant Instructor, Department of Management Information Systems.

Dave Crouch

Ph.D.

Adjunct Lecturer, Department of Management Information Systems.

David Eckles

Ph.D.

Instructor, Risk Management and Insurance Program.

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University of Georgia

University of Georgia

Global Score
514
Average Total Aid Awarded
$11,045
Students Receiving Financial Aid
94%
Net Price/Per Year
$16,902
SAT range
1270-1450
Overall Niche Grade
A+
Acceptance Rate
40%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

UGA's program boasts the Biomechanics and Motor Behavior Laboratory, providing students with a dedicated space for research and practical applications. The college is also actively involved in the Exercise is Medicine® initiative, a global health initiative that promotes the integration of physical activity into healthcare. Kinesiology majors benefit from this collaboration, gaining insights into the intersection of exercise, medicine, and public health.

Unique to this college course is a specialization in outdoor recreation and education. Students have the opportunity to explore how kinesiology principles apply to outdoor activities, adventure sports, and experiential learning, fostering a holistic perspective on movement.

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Teachers

Thomas Alexander Baker

Ph.D.

Dr. Baker, a former commercial litigator, is now a Professor in the Sport Management and Policy program at the University of Georgia, specializing in research that applies the law to sport management.

Jepkorir Rose Chepyator-Thomson

Ph.D., M.A., M.S.

She actively participates in committees at the department, college, and university levels, teaching courses in gender and sport, as well as public policy and sport.

Jamie A. Cooper

Ph.D.

In her role as a Professor and Department Head, she focuses on clinical nutrition, specializing in obesity and sports nutrition.

Deborah A. Barany

Ph.D.

At UGA, Dr. Barany directs the Brain and Action Laboratory, co-directs the Neurostimulation Laboratory, and teaches in the pre-clinical curriculum at the Augusta University/University of Georgia Medical Partnership.

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University of Illinois Urbana-Champaign

University of Illinois Urbana-Champaign

Global Score
58
Average Total Aid Awarded
$11,212
Students Receiving Financial Aid
85%
Net Price/Per Year
$14,272
SAT range
1320-1510
Overall Niche Grade
A+
Acceptance Rate
60%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

The actuarial science degree at the University of Illinois Urbana-Champaign, situated within the Department of Mathematics, is meticulously crafted to embody the interdisciplinary essence of this field. The Program at the university plays a significant role, accounting for approximately 7% of all graduates nationwide annually. This statistic underscores the program's influence and contribution to the broader community.

The program boasts a rich history, having established itself as a center of excellence in actuarial education for over 6 decades. As one of only 15 programs nationwide offering actuarial education from undergraduate to PhD levels, the University of Illinois Urbana-Champaign provides a comprehensive range of academic opportunities for aspiring actuarial science students.

Those seeking high or highest distinction should pass a minimum of three professional exams, with the highest distinction requiring a mathematics GPA of at least 3.75. Consideration may be given to finance courses and additional professional exams in close decisions.

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Teachers

Tim Cardinal

Ph.D.

Instructor of risk management. Currently teaches courses such as Theory of Interest.

Stefanie Klajbor-Goderich

Ph.D.

Academic advisor in actuarial science.

Runhuan Feng

Ph.D.

Instructor of Mathematics, Statistics, Industrial and Enterprise Systems Engineering.

Claudia Freiji

M.S.

Instructor of risk management at the University of Illinois Urbana-Champaign. She is also the coordinator of the Illinois Risk Lab (iRisk Lab).

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Florida State University

Florida State University

Global Score
461
Average Total Aid Awarded
$10,620
Students Receiving Financial Aid
96%
Net Price/Per Year
$12,684
SAT range
1180-1340
Overall Niche Grade
A+
Acceptance Rate
37%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

One of the greatest actuarial science programs is offered at Florida State University, which is housed within the Department of Mathematics. Covering material for all preliminary exams and VEE areas, FSU's program is recognized as an Advanced Curriculum by the Society of Actuaries.

Moreover, the FSU department provides a Financial Mathematics Master’s Program in this field. This graduate program explores specialized courses that integrate theory with practical applications. The coursework involves readings, problem sets, and presentations, mirroring the rigor of mathematics courses.

The Student Activities Coordinator, alongside faculty advisement, provides guidance and assistance to students. In addition to maintaining contact with employers, she keeps students informed about current opportunities for actuarial science careers through appointments and email.

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Teachers

Amod Agashe

Ph.D.

Associate Professor.

Ettore Aldrovandi

Ph.D.

Professor of Mathematics.

Paolo Aluffi

Ph.D.

Professor of Mathematics.

Nick Cogan

Ph.D.

Professor of Mathematics.

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University of Texas - Austin

University of Texas - Austin

Global Score
58
Average Total Aid Awarded
$12,725
Students Receiving Financial Aid
71%
Net Price/Per Year
$16,589
SAT range
1230-1500
Overall Niche Grade
A+
Acceptance Rate
29%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

University of Texas at Austin is among the best actuarial science colleges that boast a rich history of cultivating adept professionals in this field. This program is designed to provide students with a well-rounded, practical, and professional education. It also equips them for pre-associate actuarial exams with both the Society of Actuaries and the Casualty Actuarial Society.

Beyond exam readiness, the program encourages a mindset of continuous learning and leadership. Students are motivated to become independent, life-long learners, ensuring they stay abreast of industry developments. The program's commitment to fostering leadership extends beyond professional realms into personal lives.

This commitment to excellence was acknowledged when the program received the prestigious 2018 Casualty Actuarial Society (CAS) University Award. Being among the outstanding actuarial science colleges, this award recognized its efforts in preparing students for successful careers within the property and casualty (P&C) industry.

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Teachers

Mark Maxwell

Ph.D.

Instructor of Practice in Mathematics, Co-author of Probability and Statistics with Applications: A Problem Solving Text (approved for SOA Exam P).

Gustavo Cepparo

M.S.

Associate Instructor of Instruction.

Milica Cudina

Ph.D.

Associate Instructor of Practice.

Jennifer (Mann) Austin

Ph.D.

Associate Professor of Instruction, Undergraduate Mathematics Faculty Advisor.

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Ohio State University

Ohio State University

Global Score
151
Average Total Aid Awarded
$11,830
Students Receiving Financial Aid
83%
Net Price/Per Year
$19,474
SAT range
1250-1440
Overall Niche Grade
A+
Acceptance Rate
57%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

The Department of Mathematics at Ohio State University offers an actuarial science major with an option for graduating with honors through the College of Arts and Science Honors Program. The program encompasses core disciplines, including probability, statistics, interest theory, financial economics, life contingencies, and loss models.

Designed to equip students for success, the degree in actuarial science focuses on preparing them for up to five exams, providing a competitive edge in the job market. The program's effectiveness is evident in the improving exam passing rates, with over 80 percent of graduating seniors passing at least one exam and about 75 percent passing two or more exams in recent years. The curriculum aims to provide a robust foundation in mathematics, statistics, and relevant concepts within actuarial science and business. It also aims to equip students to tackle national actuarial examinations administered by the Society of Actuaries and the Casualty Actuarial Society.

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Teachers

David Anderson

Ph.D.

Associate Professor.

Vitaly Bergelson

Ph.D.

Distinguished Lecturer of Math & Physical Sciences.

James (Jim) Fowler

Ph.D.

Associate Instructor & Vice Chair for Undergraduate Studies.

John Holmes

Ph.D.

Assistant Instructor.

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Purdue University

Purdue University

Global Score
99
Average Total Aid Awarded
$7,324
Students Receiving Financial Aid
73%
Net Price/Per Year
$14,619
SAT range
1190-1430
Overall Niche Grade
A
Acceptance Rate
69%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

Purdue University is among the top-ranked actuarial science colleges that offers a comprehensive quantitative foundation in mathematics, probability, economics, data analytics, and statistics. The program ensures students are well-prepared for their careers, covering the first six exams set by the SOA. Students can complete these exams before graduation, giving them a competitive advantage in the job market.

Many students also opt for a business management minor, and some achieve ‘honors in actuarial science’ by meeting additional requirements. The program boasts an impressive track record, with nearly 100% of graduates either employed or pursuing further education within six months of graduation.

To further support students, Purdue's Actuarial Science Program offers a scholarship program covering the registration cost for actuarial exams. Candidates with a strong background in math and statistics from Purdue are well-positioned for success in various roles in business and government.

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Teachers

Jianxi Su

Ph.D.

Associate Lecturer of Statistics, Associate Director of Actuarial Science.

Mengyi Xu

Ph.D.

Assistant Professor of Statistics.

Mark Daniel Ward

Ph.D.

Lecturer of Statistics.

Liu Haibo

Ph.D.

Assistant Professor in the Departments of Mathematics and Statistics.

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Michigan State University

Michigan State University

Global Score
136
Average Total Aid Awarded
$12,822
Students Receiving Financial Aid
72%
Net Price/Per Year
$8,738
SAT range
1100-1320
Overall Niche Grade
A
Acceptance Rate
83%
Total Score
Number of Programs
Employment Score After Graduation
Student Satisfaction Rate
Tuition Fee

Michigan State University's actuarial science major stands as a distinguished offering within the Department of Mathematics. Rooted in a strong tradition of academic excellence, the program is designed to equip students with the skills and knowledge necessary for successful careers in this dynamic field.

This program prepares students for the preliminary exams of the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS), while also offering opportunities to develop computing, communication, and work experience skills valued by employers.

Alternatively, MSU offers a specialization in Actuarial Science for students enrolled in any bachelor’s degree program. Administered by the Department of Mathematics, this specialization complements various major fields and prepares students for roles in insurance, finance, government, and business where assessing financial consequences of risk is essential.

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Teachers

Albert Cohen

Ph.D.

Director of the Actuarial Science Program.

Gábor Francsics

Ph.D.

Associate Instructor.

Gee Y. Lee

Ph.D.

Assistant professor with a joint appointment in the Department of Statistics and Probability.

Shlomo Levental

Ph.D.

Instructor in the Department of Statistics and Probability.

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