The 10 Best Actuarial Science Colleges in the US

Which are the 10 best actuarial science colleges in the United States? An actuary is a professional whose job is to advise insurance companies, financial institutions, healthcare, and investors on what to charge their clients depending on the risks involved.

These professionals do something similar to that of betting punters; just that they use the knowledge of science and mathematics to pack up their forecasts.

Actuaries are usually dubbed as “wizards of data” and this is because the predictions they make are directly induced by numerical analysis. However, becoming an actuary is easier said than done. Predicting possible outcomes and estimating risk costs is much like “a semi-wizard” kind of knowledge. This is one of the reasons why these professionals parades themselves with much pride and dignity.

On the journey to becoming an actuary, one is to pass a couple of complex examinations. Groups like the Casualty Actuarial Society (CAS) and Society of Actuaries (SOA) also help upcoming actuaries to prepare for the exams through the provisions of helpful materials and resources.

Even so, many actuary education service providers affiliates with both CAS and SOA societies and this speaks volume of the education quality it parades.

However, many of the actuarial educational establishments in the United States are home to actuarial on-campus clubs, societal fellowships, financial aid initiatives, and fraternities. These benefits can provide incredible support and tender the journey of becoming an actuary to be less complicated and navigation-easy.

Moreover, an internship is an ideal way to land a job and many universities have links and connections to some of the big boy actuarial business establishments. 

Nevertheless, listed below are the 10 best actuarial science colleges in the United States…

  1. University of Pennsylvania
  2. University of California, Los Angeles
  3. University of Michigan, Ann Arbor
  4. University of Connecticut
  5. Purdue University
  6. University of Wisconsin-Madison
  7. The University of Texas at Austin
  8. University of Nebraska
  9. University of Iowa
  10. Bentley University 

10. Bentley University 

Location: Waltham, Massachusetts 

Kicking off the list of the best actuarial science colleges in the United States is Bentley University. The school is known to produce prominent business analysts with strong leadership skills.  

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The American educational establishment is particularly good in internships. About 97% of actuaries have done their internships and a high 98% have been placed on jobs. 

There is also precedence for a top-performing career center which is at the heart of the program’s innovative solutions. A very high number of potential actuarial scholars at the school have also contributed to the success of the field nationally.

Even so, the Society of Actuaries (SOA) has rated the coursework high; describing it as intensive, comprehensive, and detailed. 

9. University of Lowa 

Location: Iowa, Lowa

The University of Lowa is another strong name when it comes to actuarial education. It has the 2nd long-standing actuarial program in the United States and has produced some of its best alumni. 

The school is known to produce presidents in leading societies like the Casualty Actuarial Society (CAS) and Society of Actuaries (SOA). In short, on the very first day, actuarial scholars are admitted, and they are assigned to advisors who would work hand-in-hand with them to formulate a winning blueprint.

These advisors can go as far as suggesting a scheduled timetable and make recommendations of courses to the interests of the scholars.

8. University of Nebraska

Location: Lincoln, Nebraska

The University of Nebraska is one of the best actuarial science colleges in the United States. The school has a database that stores a wide range of actuarial science journals hence students gain easy access to resources. 

The school is also home to different areas of specialization in actuarial science thus scholars are given options to choose from. Scholars can either complete their programs through the College of Arts and Sciences or the College of Business.

Concentrations include management which can be that of Enterprise, Casualty, and Health. In terms of the property/casualty program, the school partners with the Casualty Actuarial Society (CAS), and through this, students can afford the opportunity to network, connect, and access a wide range of resources.

Even so, the University of Nebraska also has lots of financial aid packages. This is courtesy of the Nebraska Actuaries Club and  Society of Actuaries (SOA). 

7. the University of Texas at Austin

Location: Austin, Texas

The University of Texas at Austin is a stellar actuarial science college. The school has produced some of the country’s best business analysts who have mastered the art of risk forecasting. Potential actuarial professionals also get to learn from industry experts through affiliations.

The school is affiliated with:-

  • Sexuality and Gender Alliance of Actuaries
  • Organization of Latino Actuaries
  • Network of Actuarial Women and Allies
  • International Association of Black Actuaries
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There is also an annual Case Competition that is aimed at giving upcoming actuarial scholars practical exposure to the field. There is also prize cash for winners too so it’s a win-win.

6. University of Wisconsin-Madison 

Location: Madison, Wisconsin

Located in the booming city of Madison, Wisconsin University of Wisconsin-Madison is the 6th best actuarial college in the United States. This particular actuarial program is connected to the school’s insurance, risk management, and school of Business.  

This gives students comprehensive coursework and allows them to gain knowledge on intensive actuarial education.

Scholars can also boost their knowledge of insurance and this is a result of the institution’s Department of Risk and Insurance. This department is one of the top best of its kind in the U.S. 

Intensive research is one of its defining aspects and potential actuarial scholars are also given a thorough education on making decisions and policies about the State Government.

5. Purdue University

Location: West Lafayette, IN

Purdue University is one of the best actuarial colleges in the United States. The school offers an actuarial program that involves deep analytical mathematics and science. 

It comes with an intensive, comprehensive, and rigorous coursework and graduates receive the Actuarial Science degree and Statistics degree. The program which is under the department of mathematics and statistics of the school is research-intensive.

In short, one of the go-to research centers is the Regenstrief Center for Healthcare Engineering which is notable for its state-of-the-art facility. The school also offers scholars an exam award. This means that potential actuaries are rewarded for passing an exam; the prizes can cover their exam fees. This is done to motivate scholars to put in an extra effort and become an achiever.

4. University of Connecticut

Location: Storrs, Connecticut

The University of Connecticut is regarded as one of the nation’s best schools. Beyond that, the American higher educational establishment is home to a high-quality actuarial degree program.

Scholars here belong to m Exploration Groups which allows them to choose an option that best suits their academic pursuits. The actuarial school also has coursework that is comprehensive and rigorous and students have easy access to research opportunities on a wide array of interests.

Even so, the school has a Directed Reading Program where postgraduate and undergraduate actuarial scholars are paired together. Through this avenue, knowledge is shared and group studying is encouraged.

3. University of Michigan, Ann Arbor

Location: Ann Arbor, Michigan

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University of Michigan, Ann Arbor is the third-best actuarial science college in the United States. The actuarial program at this school is spearheaded by some prominent faculty members like Dr. Erhan Bayraker who have years of experience in the field.

The program is also affiliated with the department of mathematics and through this avenue, potential actuarial scholars are taught data processing, permutations, combinations, and numerical analysis among others.

Additionally, scholars also have access to financial aid packages including the Mathematics Emergency Award and Margaret S Huntington Prize in Actuarial Outreach.

2. University of California, Los Angeles 

Location: Los Angeles, California

Missing the top spot, the University of California, Los Angeles is the second-best actuarial college in the United States. The school offers an actuarial education that cuts across many areas of interest including technology, statistics, economics, business, and mathematics. 

The school is also home to supplemental resources including mentorship programs and workshops on the actuarial exams. Even so, the school’s applied mathematics is the second-best in the United States when it comes to research. This is one of the reasons graduates from this school are well known for their analytical skills.

1. University of Pennsylvania

Location: Philadelphia, Pennsylvania

Beating others on the list, the University of Pennsylvania is the best actuarial college in the US. This top actuarial education service provider offers scholars several routes to tap into the growing industry. 

The school offers actuarial science as both a minor and a major thus students can choose the one that best meets their academic interests. The American educational establishment is also home to some of the nation’s best actuarial professionals – who have contributed immensely to the success of the field. 

The program is also characterized by intensive research, a comprehensive curriculum, and practical-based learning.

Conclusion

This post deals with the best Actuarial Science Colleges in the United States.

We have created these rankings to aid in your decision-making since the actuarial science program you choose is important. We combine our degree-level rankings, weighting them based on the number of degrees granted at each level, to produce the best overall ranking for actuarial science schools.

To select the schools that interest you the most, pick one of the degree levels listed above.

Let’s hear from you.

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