Applications are now open for the Actuarial Foundation Caribbean Actuarial Scholarships valued at United States four thousand dollars (US$4000) and tenable at The University of the West Indies, Mona Campus. Two scholarships will be awarded to students, one entering the second year of studies and another entering the third year.

The Caribbean Actuarial Scholarship was established in memory of Basil L. and Monica G. Virtue by their son-in-law, S. Michael McLaughlin, an actuary who graduated from UWI. This scholarship is intended to be an annual award to UWI actuarial student(s) who demonstrate a strong record of accomplishment, leadership qualities and a commitment to becoming an actuary.

The Scholarship award(s) will be paid in United States dollars to The University of the West Indies in the recipient’s name to cover educational expenses. One award, in the amount of United States one thousand five hundred dollars (US$1,500), will be made to a student entering the second year of studies, and the second award in the amount of United States two thousand five hundred dollars (US$2,500), will be for a student entering the third year of studies.

Applicants must be undergraduate students entering their second or third year at the University of the West Indies and must be enrolled in UWI’s Actuarial Science programme.  The candidates must also hold a minimum GPA of 3.0 or equivalent.

All application materials must be postmarked on or before July 15, 2009. For application procedures and further information, please visit www.actuarialfoundation.org

The Actuarial Science programme at the University of The West Indies (UWI), Mona, is an      interdisciplinary undergraduate major offered in the Department of Mathematics. It is the only degree programme in Actuarial Science in Jamaica. The range of courses included in the programme relates to the work of the actuary who must advise insurance and other companies on the impact of various kinds of risk on the financial decisions to be made.