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Actuarial Science, B.Sc.

  • Application Deadline
  • 48 months
    Duration
University rank #93 (WUR) , MI,
The MSU Actuarial Science Program is an interdisciplinary program that provides comprehensive training as a major or a specialization to highly motivated students in the College of Natural Science. Finance, economics, accounting, computer science, statistics and probability all play a significant role in the education of our next generations of actuaries.

About

Most actuaries will move into careers in the insurance industry. Preparing for actuarial preliminary exams is stressed throughout the degree.

The MSU Actuarial Science Program is an interdisciplinary program that provides comprehensive training as a major or a specialization to highly motivated students in Michigan State University's College of Natural Science.

Finance, economics, accounting, computer science, statistics and probability all play a significant role in our education of the next generations of actuaries.

Each individual is admitted to the major based on his/her academic success, informed desire to pursue a career in the industry, and demonstrated potential to achieve established goals. After acceptance into the major or specializations, student scholars pursue a challenging academic program aligned with their professional interests.

Based on student preparation, the MSU Actuarial Science Program provides employers with the confidence that actuarial science students have the technical and soft skills necessary to make immediate contributions to their organization.

An employer can expect our students to:
  • Be prepared for exams P, FM, MFE, MLC and C as majors and P, FM and part of MLC as specializations,
  • Master the content in courses that have been approved for VEE certification in applied statistics, corporate finance and economics,
  • Have a modern approach to actuarial science that incorporates numerical analysis of problems using software like Excel or other software as well as high-level computer programs and actuarial software,
  • Understand that actuaries have a duty to their employers and to society to communicate ideas effectively and to behave ethically, with the utmost respect for those who are affected by their actions,
  • Work well individually and cooperatively,
  • Be aware that the field is growing by leaps and bound, and that new, non-traditional applications arise constantly,
  • Understand that the education of an actuary does not stop at graduation, and that active membership in the SOA, CAS, or CIA is vital to the North American actuary.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 48 months
  • Credits
    120 alternative credits
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure

Courses include:
  • Linear Algebra
  • Theory of Mathematical Interest
  • Financial Mathematics for Actuaries
  • Probability and Statistics
  • Actuarial Models
  • Construction and Evaluation of Actuarial Models
  • Survey of Accounting Concepts
  • Introduction to Microeconomics
  • Introduction to Macroeconomics
  • Financial Management
  • Theory of Investments

English Language Requirements

You only need to take one of these language tests:

  • Minimum required score:

    79

    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. Read more about TOEFL iBT ®.

    Schedule TOEFL®
  • Minimum required score:

    550

    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. Read more about TOEFL®PBT.

    Schedule TOEFL®
  • Minimum required score:

    6.5

    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.

Academic Requirements

  • Complete MSU’s application for admission online, including the required personal statement.
  • Pay the $75 nonrefundable application fee.
  • Request that all secondary schools, colleges or universities attended and examination boards send original or attested copies of all transcripts, diplomas, mark sheets and certificates directly to Michigan State University in an official, sealed envelope.
  • Have the testing agency (TOEFL, IELTS, SAT, MSUELT or MELAB accepted).
  • International students are encouraged, though not required, to submit SAT or ACT scores.
  • Do not send letters of recommendation, photographs, portfolios or additional personal essays.

Tuition Fee

  • International Applies to you

    82654 USD/year
    Tuition Fee
    Based on the original amount of 41327 USD per semester and a duration of 48 months.
  • National Applies to you

    79654 USD/year
    Tuition Fee
    Based on the original amount of 39827 USD per semester and a duration of 48 months.
  • In-State Applies to you

    29044 USD/year
    Tuition Fee
    Based on the original amount of 14522 USD per semester 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 East Lansing

  • 1000 - 1500 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.

The Global Study Awards: get funded with up to £10,000 to study abroad

Together with the ISIC Association and British Council IELTS, Studyportals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.