The Milliman Scholarship is a scholarship program that is offered by the actuarial consulting firm Milliman. The scholarship is designed to support students pursuing a career in the actuarial science field, data science, computer science, economics, and programming.
The scholarship typically provides financial assistance to students who demonstrate academic excellence, leadership skills, and a strong interest in pursuing a career in actuarial science.
The scholarship will fund studies for the 2025 academic year for South African or Australian students, and it will also cover studies for the 2024-2025 academic year for students from the United States, Canada, the United Kingdom, and Ireland.
Fields covered by Milliman Scholarship:
The scholarship is open to students from South Africa, as well as the United States, Canada, United Kingdom, Ireland and Australia, for undergraduate studies majoring in any of these fields:
- Actuarial Science: Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. Actuaries use their skills to analyze data and help businesses make informed decisions regarding risks and investments.
- Computer Science: Computer science is the study of computers and computational systems. It includes the theory, design, development, and application of computer systems and software. Computer scientists work on areas such as artificial intelligence, data analysis, cybersecurity, and software development.
- Data Analytics: Data analytics is the process of examining data sets to draw conclusions or make informed decisions. It involves the use of statistical techniques, machine learning algorithms, and computer programming to analyze data and extract useful insights.
- Data Science: Data science is a multidisciplinary field that combines techniques from statistics, computer science, and domain knowledge to extract insights and knowledge from data. Data scientists use specialized tools and techniques to analyze and interpret data, and often work on problems related to big data and machine learning.
- Economics: Economics is the social science that studies how individuals, businesses, and governments allocate resources to meet their needs and wants. Economists use mathematical models and statistical methods to analyze economic phenomena such as inflation, unemployment, and market trends.
- Finance: Finance is the study of how individuals, businesses, and governments manage their money and investments. It includes areas such as financial markets, corporate finance, risk management, and investment analysis.
- Mathematics: Mathematics is the study of numbers, patterns, and shapes. It is a fundamental discipline that underpins many other fields, including science, engineering, and finance. Mathematicians use mathematical techniques to solve problems and develop new theories.
- Programming: Programming is the process of creating computer software by writing code in programming languages. Programmers use algorithms and data structures to design and implement software applications, websites, and systems.
- Statistics: Statistics is the branch of mathematics that deals with the collection, analysis, interpretation, and presentation of data. Statisticians use statistical methods to make informed decisions, draw conclusions from data sets, and test hypotheses.
Eligibility Requirement:
Belong to a qualified ethnic minority group as defined by Milliman:
- United States and Canada. Eligible candidates must have at least one birth parent who is a member of one of the following groups: African descent, Latino/Hispanic, Native North American, or Pacific Islander.
- UK and Ireland. Eligible candidates must have at least one birth parent who is a member of one of the following groups: Black African, Black Caribbean, Irish Traveller or Gypsy.
- South Africa. Eligible candidates must have at least one birth parent who is a member of one of the following groups: Black or Coloured.
- Australia. Eligible candidates must have at least one birth parent who is a member of one of the following groups: Aboriginal or Torres Strait Islander.
- Must be living in, and attending a university in, the United States, Canada, Ireland, United Kingdom, South Africa or Australia.
- Must be a high-achieving student.
- Must be a high school senior or a current postsecondary undergraduate. Students outside the United States must be in their final year of upper or higher secondary school or be current technical or university-level students.
- Plan to enroll in full-time undergraduate study at an accredited or bona fide college or university. In the United States, Canada, Ireland or the United Kingdom, the enrollment period is the entire 2024-2025 academic year. In South Africa or Australia, the enrollment period is the entire 2025 academic year.
- Be majoring or intending to major in one of the following fields of study:
Selection and Coverage Value :
Milliman will provide scholarships to 10 to 25 students worth at least USD5,000 (about R90,000) apiece. Students must reapply for support every year.
Milliman Scholarship Selection Process
Applicants should take note of the following selection details:
- All applications will be reviewed by the Scholarship America evaluation team.
- Scholarship America will select finalists based on the following: academic record and response to 3 essay questions.
- Milliman Inc. will choose awardees from a group of contenders. The following factors may be considered: shown leadership and participation in school and community activities, employment experience, and financial need as specified in the application.
- Preference will be given to previous scholarship recipients.
- Applicants will be notified of their outcome towards the end of June 2024.
- Scholarship America will process payments on Milliman’s behalf, with instalments due to the university in August 2024. Students outside of the United States and Canada will receive funding via wire transfer.
- To receive funds from the United States, scholars and institutions must meet eligibility requirements outlined by the Office of Foreign Assets Control at the US Department of Treasury.
Closing Date:
30 April 2024 (Late/incomplete applications may not be considered, so applicants should submit all required documents well before the deadline)
Contact the Scholarship Provider
For any inquiries regarding this scholarship program or assistance with your application, please reach out directly to Scholarship America, the administrators overseeing this scholarship, at the following email address: studentsupport@scholarshipamerica.org
The Milliman scholarship 2025 is a valuable opportunity for students pursuing actuarial science or related fields to receive financial support to further their education. The scholarship not only helps students with their financial needs but also provides valuable recognition and support for their academic pursuits. With the help of the scholarship, students can pursue their education and career goals with confidence and a sense of accomplishment.
Overall, the Milliman scholarship plays a significant role in assisting students in their academic and professional development in the actuarial field.