Pennsylvania State University's Actuarial Science program is a highly respected and well-established program that has been around since 1947.
The program is offered through the College of Liberal Arts, which provides students with a strong foundation in mathematics, statistics, and business.
The Actuarial Science program at Penn State has been accredited by the Society of Actuaries (SOA) since 1980, ensuring that students receive a high-quality education that meets industry standards.
The program offers both undergraduate and graduate degrees, with a variety of specializations to choose from, including property and casualty insurance, life insurance, and pensions.
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About the Program
At Pennsylvania State University, the Actuarial Science program is designed to equip students with the mathematical skills to tackle complex business and social problems.
The program focuses on the application of mathematical and statistical concepts to measure life, health, pensions, and other contingencies.
Students in the Actuarial Science major will be prepared to begin the series of professional examinations leading to Associateship and Fellowship in either the Society of Actuaries or the Casualty Actuarial Society.
The program provides students with a broad understanding of the business environment, making them well-rounded professionals.
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Admissions and Requirements
To be eligible for the Actuarial Science major at Pennsylvania State University, you must be enrolled in the Smeal College of Business or the Division of Undergraduate Studies.
To gain entrance to the Actuarial Science major, you'll need to satisfy the requirements for entrance to the major.
You can enroll in the Smeal College of Business or the Division of Undergraduate Studies to take the first step towards pursuing a degree in Actuarial Science.
Satisfying the entrance requirements for the major is a crucial step in your journey to becoming an actuary.
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Cost and Attendance
Attending Pennsylvania State University can be a significant investment, with annual costs ranging from $36,962 for in-state residents to $54,026 for out-of-state residents.
The total one-year cost for in-state residents includes tuition, books and supplies, other fees, room and board, and a budget for other expenses.
In-state residents can expect to pay $17,416 in tuition, which is significantly lower than the $34,480 paid by out-of-state residents.
Books and supplies cost $1,840 for both in-state and out-of-state residents.
Other fees, such as student activity fees and health services fees, add up to $1,034 for both groups.
Room and board costs $11,884 for both in-state and out-of-state residents.
Budgeting for other expenses, such as transportation and personal expenses, requires an additional $4,788 for both groups.
Here is a breakdown of the estimated annual costs for in-state and out-of-state residents:
Overall, the cost of attending Pennsylvania State University can be substantial, but the university offers a high-quality education and a wide range of academic programs, including actuarial science.
Career and Employment
The Actuarial Science program at Pennsylvania State University is a highly sought-after major, with top companies like Cigna, Highmark, and Prudential consistently recruiting graduates.
Smeal Actuarial Science students are highly sought after by industry and government for internships and full-time jobs, with over 30 companies attending the college's largest actuarial career fair in the country each year.
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The average starting salary for Actuarial Science graduates is a whopping $75,000, with an average signing bonus of $6,000. Interns can expect to earn a competitive $24/hour wage.
One of the largest actuarial career fairs in the country is held at Penn State, with top companies like AON Hewitt, Deloitte, and Transamerica in attendance.
The Actuarial Science program at Smeal is a STEM Designated Degree Program, providing students with a strong foundation in quantitative and qualitative skills.
Actuarial Science B.S.
To pursue a Bachelor of Science degree in Actuarial Science at Pennsylvania State University's Park Campus, you'll need to meet certain academic qualifications.
Applicants must have passed 12th with 55% marks, Second Division.
The Actuarial Science program at Penn State emphasizes the application of mathematical and statistical concepts to the measurement of life, health, pensions, and other contingencies.
Students in the Actuarial Science major will be prepared to begin the series of professional examinations leading to Associateship and Fellowship in either the Society of Actuaries (A.S.A./F.S.A.) or the Casualty Actuarial Society (A.C.A.S./F.C.A.S.) while enrolled in the program.
To gain admission to the major, you'll need to complete the entrance-to-major courses prior to attaining 59 cumulative credits at Penn State. These courses include ACCTG 211, MGMT 301, MKTG 301, and FIN 301, all of which must be taken at Penn State.
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Students and Quality
At Pennsylvania State University, actuarial science students have access to a variety of resources that help them achieve their academic goals.
The university's actuarial science program is accredited by the Society of Actuaries, ensuring that students receive a high-quality education.
Penn State's actuarial science students have a high job placement rate, with many graduates going on to work for top insurance companies and consulting firms.
Students
As students, you're likely no stranger to the importance of quality in your learning experience. Quality education is essential for your academic success and future career prospects.
Research has shown that students who receive high-quality education are more likely to achieve better grades and have higher graduation rates. For instance, a study found that students in schools with high-quality facilities and resources tend to perform better academically.
You might be wondering what makes a quality education. One key factor is access to qualified and experienced teachers. According to a report, students who have teachers with a master's degree or higher tend to perform better on standardized tests.
Additionally, quality education involves providing students with opportunities to engage in hands-on learning experiences, such as internships, projects, and extracurricular activities. These experiences can help you develop practical skills and build your confidence.
Investing in quality education also requires a commitment to technology and digital resources. A survey found that 75% of students believe that technology is essential for learning, and 90% of teachers agree that technology improves student engagement.
By prioritizing quality in education, you can set yourself up for success in the classroom and beyond.
Quality of Work
To achieve quality work, students must focus on meeting the academic standards set by their institutions. Candidates must complete the degree requirements for their major and earn at least a 2.00 grade-point average for all courses completed within their degree program.
This means putting in the effort to pass all the necessary courses with a minimum passing grade. Students who are struggling with a particular subject should seek help from their professors or teaching assistants.
Meeting these requirements is crucial for students who want to graduate with a degree. By doing so, they demonstrate their ability to apply the knowledge and skills they've acquired during their academic journey.
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