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Actuarial Science, B.Sc.

  • Application Deadline
  • 48 months
    Duration
Gary, IN, United States
In our highly quantitative society, knowledge of math and actuarial science allows one to be more competitive in regional and national job markets and professional/graduate schools. The goal of the department, therefore, is to present students with a set of mathematical tools and enable them to use those tools to begin technical careers or pursue further study in mathematics or related fields.
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Overview

The Bachelor of Arts or Bachelor of Science in Mathematics degree program provides students with an effective curriculum, led by an experienced faculty. Almost all mathematics full-time faculty members are Founder’s Day Teaching Award winners, multiple IU Trustee Teaching award winners, and active members of the IU Faculty Colloquium on Excellence in Teaching (FACET). Faculty members are active researchers with more than one hundred publications to their credit. Students benefit from the faculty’s diverse research interests and can participate in undergraduate research as part of their senior thesis.

Students pursuing a Bachelor of Science in Actuarial Science degree will receive a solid background for their actuarial exams. The department offers several courses designed specifically to fit the requirements of the actuarial exams, better preparing students to pass them. Most faculty members have actuarial exam experience and can expertly advise students in their preparations for their exams.

A graduate with a degree in mathematics is qualified for a broad range of positions in industry, business, academia, and government that require analytical thought and problems solving. Graduates often work as system analysts, actuaries, and statisticians in banks, bureaus, consulting firms, and computer and communications industries.

The field of actuarial science offers exciting executive careers for students with a strong background in mathematics. Specific opportunities include life, health, and casualty insurance, pension plan management, investment, and consulting. Graduates of the IU Northwest actuarial science program have obtained excellent starting positions in Chicago and Indiana.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 48 months
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure

Courses include:
  • Mathematics core courses (23 cr.) MATH-M 215, MATH-M 216, MATH-M 301/303, MATH-M 311, MATH-M 360, MATH-M 366
  • Actuarial Science core courses (7-9 cr.) (One of these will be a capstone course)MATH-M 320, MATH-M 325, MATH-M 485
  • Computer Science core courses (7-8 cr.) Option1: CSCI-C 201, CSCI-C 307 OR Option 2: CSCI-A 201, CSCI-A 302
  • Economics and Business core courses (21 cr.) ECON-E 103, ECON-E 104, BUS-A 201, BUS-A 202, ECON-E 270, BUS-F 301, BUS-F 420
  • Technical Electives (9 cr.) 
    • Mathematics: MATH-M 312, MATH-M 325, MATH-M 343, 
    • Computer science CSCI-C 203, CSCI-C 320, CSCI-C 343
    • Business BUS-L 201, BUS-N 300, BUS-P 301, BUS-M 301

English Language Requirements

  • Minimum required score:

    71

    The TOEFL iBT ® measures your English-language abilities in an academic setting. The test has four sections (reading, listening, speaking, and writing), each with a score range of 0-30, for a total score range of 0-120.

  • Minimum required score:

    6

    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Get a free IELTS practice test
  • Minimum required score:

    530

    The TOEFL®PBT is administered in a paper format and measures your ability to use and understand English in a classroom setting at the college or university level. It accurately measures how well you can listen, read and write in English while performing academic tasks.

Academic Requirements

You need the following GPA score:

Required score: 3

Applicants for graduate programs must have the equivalent of a bachelor’s degree with a minimum GPA equivalent to 3 on a US 4.0 grading scale. Admitted applicants typically have an undergraduate GPA of or better on a 4.0 scale. No exam grade should be lower than 4.5 (European grade scale) or D (American grade scale).

Your GPA (Grade Point Average) is calculated using the grades that you received in each course, and is determined by the points assigned to each grade (e.g. for the US grading scale from A-F).

General Requirements

All students who are interested in IU need to be aware of the high school prerequisites before applying to IU. Applicants should complete at least 34 credits (or semesters) of college-preparatory courses, advanced placement courses, and/or college courses in high school. We focus mainly on the academic performance and preparation of the applicant throughout high school.

You can share standards, but only Admissions staff members can assess a student’s admissibility. Though we will consider additional factors, our admissions decisions are primarily based on academics.

Additional Factors

  • Class rank
  • Academic program
  • Grade trends
  • Personal statements
  • Essays
  • Letters of recommendation
  • SAT or ACT are required.

Tuition Fee

  • International

    614 USD/credit
    Tuition Fee
    Based on the original amount of 614 USD per credit and a duration of 48 months.
  • National

    614 USD/credit
    Tuition Fee
    Based on the original amount of 614 USD per credit and a duration of 48 months.
  • In-State

    220 USD/credit
    Tuition Fee
    Based on the original amount of 220 USD per credit and a duration of 48 months.
We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

Living costs for Gary

  • 956 - 1550 USD/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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