SOA scholarship

Society of Actuaries Scholarship Program

The SOA scholarship is open to all Kenyan actuarial science students looking to pursue an actuarial profession career.

Purpose

The Society of Actuaries Scholarship program was established to increase the number of actuarial science students, and who intend to pursue an academic career and achieve an actuarial designation. The scholarship aims to support outstanding students in Kenya who demonstrate academic excellence.

The program is run by Actuarial Academy of East Africa, and facilitated by Society of Actuaries, a global organization that provided actuaries with professional development, education and exams, research, and a variety of other resources to promote the field of actuary and the careers of its members.

Eligibility

Individuals who meet the following requirements may apply:

1. Academic achievements

Criteria:
I. Applicants must have a strong academic record, represented by a high school Kenya Certificate of Secondary Education (KCSE) grade or equivalent academic performance metrics.
II. Academic achievements should be supported by transcripts, certificates, or any other relevant documentation.
III. Prospective candidates are required to have successfully completed a minimum of two academic years at their respective universities. It is mandatory for applicants to provide transcripts reflecting their academic achievements during these two years.

Evaluation:
● The Actuarial Academy (AAEA) will set up a selection committee to assess an applicant’s academic performance, taking into account the rigor of their coursework, grades, and any additional academic achievements.
● Priority consideration will be given to applicants who have attained a minimum grade of B+ in KCSE or its equivalent, along with a B+ in Mathematics.

2. Previous attempts of the SOA exams

Criteria:
Priority consideration will be given to applicants who have previously completed/ attempted an SOA (Society of Actuaries) exam(s). We will require that applicants indicate whether they have undertaken any SOA exams.

Evaluation:
The selection committee will assess applicants based on their performance in the Society of Actuaries (SOA) examinations.

3. An applicant’s personal aspirations

Criteria:
Applicants are required to submit a one paged personal statement outlining their educational and career goals, reasons for applying for the scholarship, and how it aligns with their aspirations. The personal statement should also highlight any challenges overcome, unique experiences, and qualities that make the applicant stand out.

Evaluation:
The selection committee will assess the applicant’s writing skills, clarity of goals, and the alignment of their values with the objectives of the scholarship.

4. Financial Need (if applicable)

Criteria:
I. Where applicants have a dire financial need, they may opt to provide additional documentation or a paragraph within the personal statement explaining their financial situation.The personal statement should outline the steps an applicant has already taken to seek funding from elsewhere, details of any previous grants and confirm that their employer is not covering the cost.
II. Applicants must be from households with an income of less than $25,000 per annum. While we will not request for financial information (e.g. bank statements) to prove this, we will expect honesty from the applicants.

Evaluation:
● The selection committee will assess financial need based on the provided documentation and will take it into consideration along with the other criteria.
● The selection committee may request additional documentary evidence of your financial position, if required to support its decision-making.

  • Application ProcessApplicants must submit an application and supporting documentation through the following link
  • Application DeadlinesThe completed application and required documentation must be received by the Actuarial Academy of East Africa no later than March 29, 2024.
  • ContactPlease email admin@actuarialacademy.africa with any questions regarding the SOA Scholarship program or the application process.

Contact Info

College of Insurance, Red Cross Road, Nairobi

adminoffice@actuarialacademy.africa

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