Mathematics - Actuarial Science
Also Available Online
The Actuarial Science Program at Illinois State combines high quality education in all areas of actuarial theory with serious commitment to actuarial practice and professionalism.
We offer two ways to complete the M.S. in Actuarial Science; traditional (on-campus) or online. The actuarial science program is designed to support you as you prepare to pass the professional exams set by the two major societies for Actuaries in the U.S. or to take similar exams from similar societies elsewhere.
The traditional sequence is offered on-campus located in Normal, IL and courses are conducted during the day. During the last year of your program, a culminating experience is completed locally within in Illinois.
The online Actuarial Science sequence offers the same quality program taught by our faculty, but courses are offered in real-time (synchronous) accompanied by independent coursework.
The courses are generally offered in the evenings (Central US Time Zone) during the week. The online program provides you with the flexibility of completing courses part-time for a flat fee per credit hour.
To see a tentative two-year schedule of this masters sequence, please download the two-year schedule.
To see a tentative three-year schedule of this masters sequence, please download the three-year schedule.
Due to the online nature of the program, graduate assistantships are not available. Consider our traditional program if you wish to secure a graduate assistantship. During the last year of your program, a culminating experience is completed near your home location.
Point of Pride
The Actuarial Science Program at Illinois State University is a Center for Actuarial Excellence (CAE), one of the first nine academic programs in the United States to receive that recognition in 2009, and the first one in the State of Illinois. Illinois State was also one of the first four institutions in the world to be honored with the Casualty Actuarial Society University Award in 2016, and we also won that award again in 2019, after a required three-year waiting period.
Discover what life as an Illinois State graduate student is like.
University Admission Requirements
A student applying to a master's program must:
- have earned a four-year bachelor's degree or its equivalent from a college or university that is accredited by the appropriate regional accrediting association, or do so within one academic year
- have a minimum 3.2 GPA (on a scale in which an A is a 4.0) for the last 60 hours of undergraduate work
- present unofficial transcripts from each college or university other than Illinois State at which graduate, undergraduate, or non-degree credit was earned. The unofficial transcript should be easily readable and clearly indicate degree(s) awarded, courses and course grades for each term. If accepted, official transcripts can be emailed from the university to GraduateAdmissions@IllinoisState.edu or mailed in a sealed envelope to: Illinois State University, Graduate School, 209 Hovey Hall, Campus Box 4040, Normal, IL 61790-4040.
International students can learn more about specific application requirements by visiting the Office of Admissions.
Additional Program Admission Requirements
To be considered for this program, you must meet the following requirements.
You’ll need a minimum of the following mathematics courses:
- three semesters of Calculus
- one semester of Linear Algebra
- four quantitative courses about the Calculus/Linear Algebra level (such as advanced mathematics, finance, statistics, economics, etc.)
If your transcripts do not clearly show you have this background, please explain in your statement of purpose.
Upload your resume or C.V. in the application system.
Statement of Purpose
The system will ask you to upload a statement of purpose. Include the following information:
- Your interest in pursing a graduate degree in mathematics from Illinois State
- How your academic and professional goals align
- What you hope to achieve as a graduate student in mathematics
If your background is not in mathematics, please explain in your statement.
Letters of Recommendation
Submit the name and email address for a letter of recommendation. If you’re applying for a graduate assistantship and/or partial tuition waiver, you’ll need two letters of recommendation.
Letters will be uploaded by the individuals writing them.
Letters should address your academic ability and your ability to communicate mathematics.
GRE Scores or Professional Exam Evidence
Use institutional code 1319 to submit your GRE scores to Illinois State, or alternatively, submit evidence of your successful passage from a professional society such as the Society of Actuaries or the Casualty Actuary Society.
Global Access to Online Degree Programs
When applying, international students applying to a fully online program must agree to our international online and hybrid programs disclosure and disclaimer statements. Due to limited on-campus courses, immigration documentation cannot be issued for students seeking F-1 or J-1 status.
Application Deadlines - Traditional Sequence
- Fall (August) Term — March 1 for financial consideration (graduate assistantships, tuition waivers)
- Fall (August) Term — July 1
- Spring (January) Term — October 1
- Summer (May/June) Term — April 1 (funding is unavailable)
Application Deadlines - Online Sequence
- Fall (August) Term — July 1
- Spring (January) Term — December 1
- Summer (May/June) Term — April 1
The University provides graduate assistantships as a means of financial support. They are intended as a way to facilitate a student's progress to degree while providing important professional development.
Graduate assistantships are only available for applicants seeking the traditional sequence. Applicants seeking the online sequence are not eligible for a graduate assistantship.
To be eligible for an assistantship a student must, generally,
- be admitted unconditionally as a degree-seeking student into a graduate academic program, or have a minimum of 120 undergraduate hours if in an integrated degree program
- be in good-standing
- be enrolled full-time (typically at least 9 credit hours during the fall or spring semesters, or at least 6 hours during the summer session).
Graduate assistants receive
- monthly wages paid in the form of either a stipend or an hourly wage
- a waiver for 100% of tuition during a semester of appointment
- a waiver for up to 12 credit hours of tuition for the summer term immediately following a fall or spring appointment
See Student Accounts for information on tuition and fees. Funding for graduate students is available from several different sources. Students who have been admitted from contiguous states including Iowa, Indiana, Kentucky, Michigan, Missouri, and Wisconsin will receive in-state tuition.
The online Actuarial Science sequence is charged at a flat rate of $1,500 per credit hour. This rate is not based on geographic location but rather the selection of this online program. All students in the online sequence will be charged the same amount for each course until the degree is completed.