Actuarial Science Exam Reimbursement Guide

 

Two students study for exam

Thanks to the generous sponsorships from State Farm, Milliman and alumni donations, we are proud to offer a reimbursement program rewarding our students who pass any ASA- or ACAS-level exam. The reimbursement program is open to all actuarial science majors, graduate students in the MS actuarial science program as well as PhD students with an actuarial science concentration. To qualify for reimbursement, you must have passed the exam while being a U of I student. We urge you to take advantage of this program in order to jump start your path towards the ASA or ACAS accreditations.

The exam reimbursement is equal to $100 for each exam passed before December 1, 2020 and $150 for each exam passed after December 1, 2020. Our faculty and staff team make strong efforts to try to keep up with the increasing fees of actuarial exams, but we understand the support is still limited due to budget restraints. We continue to look for new resources to provide financial support to our students.

The process to reimburse is extremely simple, all that is required is to fill out the Actuarial Exam Fee Reimbursement form here. You will require an official transcript from the SOA or the CAS showing that you have passed the actuarial exam you are looking to have reimbursed. The process takes about 12 weeks in order for the reimbursement to be processed, but it may take longer depending on demand of reimbursement and availability of staff to process your request.

If you have any further questions, please feel free to email ASRM-advising@illinois.edu.

Frequently Asked Questions

Q: Do I receive a check for the exam reimbursement? How does the reimbursement operate?

A: The exam fee reimbursement is credited directly to your student account that can be accessed through self-service. If there are currently no outstanding fees in your account, then this scholarship may be deposited to the linked bank account.

Q: Is the exam fee completely reimbursed?

A: We only currently reimburse $100 per actuarial exam passed, due to budgetary constraints and high demand from students taking exams during their time here at UIUC.

Q: Do you offer different amounts of reimbursement for higher level exams?

A: The scholarship does not vary based off of which exam is reimbursed. For example, the amount reimbursed from passing SOA exam IFM is equal to the amount reimbursed from passing SOA exam P.

Q: If I passed exams before graduation but did not have time to submit the form, am I still eligible for reimbursement after graduation?

A: Yes, we can process your reimbursement application within one year after your graduation. However, you should make every effort to send in the reimbursement form as soon as the exam result becomes available. It becomes more difficult for us to reimburse you after your graduation.