Aegon Transamerica Foundation Funds Actuarial Scholarships at Morgan State University

In a groundbreaking initiative aimed at nurturing future talent and enhancing diversity within the actuarial profession, the Aegon Transamerica Foundation has announced a significant scholarship program at Morgan State University. This partnership highlights a shared commitment to fostering academic excellence and social inclusion in the insurance industry. Morgan State stands out as the sole historically Black college or university to offer a bachelor's degree in actuarial science, positioning it as a critical player in this transformative endeavor.

Empowering Future Actuaries

The Aegon Transamerica Foundation's $25,000 grant to Morgan State University introduces a novel approach to scholarships in the field of actuarial science. By linking scholarship awards directly to students' performance on professional actuarial exams, the program sets a precedent for merit-based incentives that encourage not just academic pursuit but professional readiness. Each of the eight $3,000 scholarships serves as both a reward and motivation for students, propelling them toward success on these rigorous exams. This initiative not only supports students financially but also emboldens them to excel in their careers from the outset.

Breaking Barriers

The scholarship program is designed with a dual purpose: to alleviate the financial burden on aspiring actuaries and to promote diversity within the profession. By focusing on Morgan State University, the initiative acknowledges and leverages the unique position of HBCUs in supporting African American students and other underrepresented groups in higher education. The targeted support for actuarial science students at Morgan State is a strategic move to bridge the diversity gap in the insurance sector, creating a more inclusive and representative professional community.

A Success Story in the Making

Among the first beneficiaries of this scholarship is Tyler Shaia, a sophomore at Morgan State with aspirations of becoming a professional actuary. Shaia's internship experience at Transamerica and his successful completion of the financial mathematics exam underscore the potential of this scholarship program to transform individual lives and, by extension, the actuarial profession at large. Shaia's journey from intern to scholarship recipient exemplifies the tangible impact of the Aegon Transamerica Foundation's investment in the future of actuarial science.

The Aegon Transamerica Foundation's partnership with Morgan State University is a beacon of hope for aspiring actuaries from diverse backgrounds. By financially supporting students based on their performance in actuarial exams, the foundation is laying the groundwork for a more diverse, inclusive, and skilled workforce in the insurance industry. As more students like Tyler Shaia benefit from this program, the actuarial profession can look forward to a future enriched by diverse perspectives and talents. This initiative not only highlights the importance of supporting underrepresented groups in STEM fields but also showcases the positive ripple effects of strategic philanthropy on the industry and society.