Scholarships

We are honored to be able to help students pursue their actuarial career through various scholarships!

ACADEMIC SCHOLARSHIPS

The Organization of Latino Actuaries (OLA) furthers its mission of increasing the number of Latine actuaries by awarding academic scholarships to Latines who will be attending a US college/university next school year and are interested in the actuarial profession. The scholarship applications are open from January 1 to March 31 each year.

Applications are evaluated on various criteria including, but not limited to, academic performance, commitment to pursuing the actuarial profession, exam progress, work experience, and leadership experience. Finalists for both the named and general scholarships are expected to be selected by mid-June.

In 2024, we awarded close to $150,000! Thanks to our Gold and Platinum sponsors, we are able to provide two types of scholarships (same scholarship application):

General scholarships: Winners receive awards of various amounts. The top student will receive the “OLA Cresta Scholarship”, which is a $7,500 award. In Spanish, “ola” means wave, and “cresta” is the crest (top) of the wave. With this award, OLA recognizes the top applicant in each cycle of OLA’s Academic Scholarships. Finalists for the general scholarship are not required to interview (except possibly the Cresta winner if eligible for a Named Scholarship).

Named scholarships: Winners receive $5,000 and are guaranteed an actuarial internship for the following Summer. Finalists for the named scholarship will be required to interview. In 2024, we had a record number of participating companies! Allianz, Cigna, CNA, CSAA, Corebridge, Deloitte, F&G, Liberty Mutual, Milliman, New York Life, Northwestern Mutual, Oliver Wyman, Pacific Life, Principal, Segal, Travelers, TruStage, Unum, Verisk and WTW.

Academic scholarships are paid directly to the school.

Applications are now closed but you can always fill out our Interest Form here: OLA Scholarship Interest Form

Questions? Below are answers to questions we have received: If your questions is not answered, submit your question anonymously HERE. You can also e-mail us at [email protected]

FAQs

1. What is the maximum scholarship amount rewarded? $7,500 is awarded to one Cresta scholarship winner. Named scholarship winners are awarded $5,000 and general scholarship winners are awarded up to $4,000.

2. Is the Cresta scholarship the only scholarship eligible for an internship for Summer 2024? No, the Cresta scholarship can be awarded to either a general scholarship or a named scholarship recipient. The top student in the application cycle will receive the Cresta scholarship.

3. How will I know if I am selected to interview for the Named scholarship? If you are selected as a finalist for the Named Scholarship process, you will be notified by the OLA Academy Team and provided with more information regarding preparation and expectations.

4. When will I know if I have been awarded a scholarship? Applicants will be notified if they have been awarded a scholarship around August 2024.

5. Do you award scholarships to Latine students who are already enrolled in an undergraduate or graduate program, even if they applied last year? Yes, even if you applied in prior years as a college/university student or incoming undergraduate Freshman (whether or not you were awarded a scholarship), you can absolutely apply again this year!

6. Is this scholarship open to those who are new to OLA? Yes. Being previously involved in OLA is not a requirement to apply. We welcome a lot of students to OLA through our scholarship program!

7. Is this scholarship open to high school students? High school seniors enrolled in a U.S. college/university program for the 2024-2025 Academic Year are eligible to apply.

8. Can rising seniors still apply even if they are not looking for an internship? Yes, you will be automatically considered for the General Scholarship if you advance to the finalist round.

9. Can I apply even if graduate Spring or Summer 2024? No, unless you will be enrolled in another undergraduate or graduate program in the U.S. for the 2024-2025 academic year (beginning Fall 2024).

10. Can I opt-out of the Named Scholarship opportunity if I want to explore an internship opportunity elsewhere? Yes, but you’ll need to let us know your intention to opt-out if/when we advance you to the finalist round (before we send your resume to the Named Scholarship Corporate Sponsors).

11. Are letters of recommendation required for this application? No.

12. How much does applying for FAFSA before the deadline affect scholarship chances? We only intend to use FAFSA information where it benefits applicants given government processing delays during this scholarship cycle. Don’t let FAFSA delays prevent you from submitting your application!

13. Who can I contact if I have any follow up questions? You can reach out to us at [email protected]

ACTUARIAL EXAM SUPPORT

Need financial help to buy study material for your actuarial exams? OLA helps Latine actuarial candidates with the cost of study exam material for their three first exams (exams outlined on the application).

We have a program aimed to support Latine actuarial candidates who are pursuing the actuarial profession and have not yet begun to take exams. OLA awards a First Time Exam Taker Stipend to candidates who need financial support to get their actuarial exams started. OLA is happy to be able to lessen the financial burden for candidates who need this aid so that they can focus on studying! Apply HERE!

Not your first exam? Apply HERE!

Did you fail exam P or FM with a grade of 4 or 5 and are willing to try again? We got you! We will reimburse your exam fee! Apply HERE before you retake the exam!

Questions? Email us at [email protected]

TRAVEL SPONSORSHIPS

Travel with Latine Actuaries and aspiring actuaries (students and/or career changers) to Actuarial Events!

OLA awards one-time scholarships to candidates to attend conferences/conventions. OLA covers travel, lodging and event expenses. During these events, you will learn about the actuarial profession and network with credentialed actuaries, other actuarial prospects and actuarial employers! Participants have been successful in getting interviews and landing internships or full-time jobs at these events! OLA leadership members will mentor you before, during and after the events.

The conferences we are currently sponsoring students to attend are:

OLA’s Early Career Symposium (application has closed)
Society of Actuaries (SOA) Candidate Connect
Casualty Actuarial Society (CAS) Student Day
Conference of Consulting Actuaries (CCA)
ALPFA Convention (2024: Included in OLA’s Early Career Symposium)
IABA Conference

Questions? Email us at [email protected]