Historically Black Morgan State University in Baltimore has announced a new partnership with Symetra Life Insurance to provide scholarships supporting 25 students pursuing a degree in actuarial science. The scholarship program will provide wraparound support for critical student needs, such as housing, food, clothing, transportation, and other emergency funding that may be a barrier to degree completion.
Actuarial science is a specialized field of practice that prepares students to be professional actuaries — skilled, highly paid risk managers who use data, mathematics and statistics to assess financial outcomes. The program incorporates the rigorous discipline of mathematics, finance, accounting, and economics to create a synergistic program that fully equips graduates for the workforce. According to the U.S. Bureau of Labor Statistics, employment of actuaries is projected to grow 24 percent from 2020 to 2030, much faster than the average for all occupations.
Morgan State is the only HBCU in the nation, and one of two institutions in the state of Maryland, to offer a bachelor’s degree in actuarial science. Launched in 2008, the university’s actuarial science program is housed within the School of Computer, Mathematical and Natural Sciences’ department of mathematics and has produced 45 graduates since its inception.
“The need for professional actuaries in our country has never been greater and Morgan has been effectively doing its part to meet that need by producing qualified graduates in this growing field,” said David K. Wilson, president of Morgan State University. “Morgan’s actuarial program is rigorous requiring a great amount of focus and commitment from our students. Support from partners, like Symetra, provide invaluable assistance preparing our students with the necessary leadership skills to be competitive in the insurance and finance industry. Through this partnership, Morgan students in our actuarial program will have the resources to persevere and matriculate without disruption or distraction.”