University of Connecticut College of Liberal Arts and Sciences
Department of Mathematics : Applied financial Mathematics Program
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Financial Aid - Ph.D. in Actuarial Science

Support from the Department
Some Ph.D. students in Actuarial Science receive a 3/4 Teaching Assistantship (abbreviated TA). Sometimes a faculty member has a research assistantship (RA) available. If funding permits, the department awards a research assistantship to graduate students who are in the spring of one of their final years to help these students to focus on their thesis.
Special university scholarships for both outstanding and multi-cultural students are also available; these are awarded as a supplement to a teaching or research assistantship.
Both half and full TAs receive a tuition waiver and the right to purchase an excellent highly subsidized health insurance plan. For particulars, check the Human Resources Website.
The GRE General Test is highly recommended for applicants for financial aid.

Support from the Q Center
The Q Center occasionally has (half) TA's available. Graduate students are sometimes able to obtain half an assistantship from the department and another half from the Q Center.

Note: the number of assistantships from the Q Center is very limited.

About Teaching Assistantships
All students obtaining a Teaching Assistantship (TA) are expected to take the math department pedagogy course. This course consists of about six workshops organised during the first fall semester of the student's enrollment into the program.

The department offers a broad range of teaching experiences to its TAs. After an initial period of teaching lower division and service courses, qualified students may choose to teach an upper-division course. The teaching assistant experience is unique in the sense that - unlike in most departments - a grad student effectively lectures a course, rather than limiting himself or herself to grading and monitoring discussion sections. This experience has proven to be a very valuable asset during the job search after graduation.

Technology is incorporated into many courses, either through the use of hand-held calculators, or through the use of computer projects. Group learning experiences are also stressed.

Intersession and Summer Support
Some opportunities for teaching during the Summer Session and Winter Intersession are also available, and provide additional financial assistance. Graduate students can also work for programs outside the department of mathematics:

  • CAP is a summer program to encourage incoming freshmen. A preliminary selection of instructors and tutors is done through the Department of Mathematics.
  • To teach for the 3000 by 2000 and CEP/PCEP programs in the summer, contact the ACES administration.
  • To teach in the Bridge Program during summer, contact the School of Engineering.
In addition, some faculty research grants have funds to support Research Assistants during summer. Usually, those are given to students in the Mathematics Ph.D. Program.
Almost all students in the Actuarial Science program obtain a summer internships in a insurance company or a consulting firm active in finance. Usually, these companies are located in nearby Hartford, or in Boston or New York. These internships tend to pay rather well; most students end up making $6000 - $8000 over the summer.

Continuing Support
The Department will do its best, within its available resources, to continue to support all students who were admitted into the Ph.D. program as Teaching Assistants, as long as they remain in good standing, for a period of five years. Support beyond five years as Teaching Assistants will be considered on a case-by-case basis. As resources permit, the Department will also attempt to support as Teaching Assistants those students who were not admitted as Teaching Assistants but attain good standing through the passing of the preliminary examinations.

Pay Scales
The exact amounts can be found on the Graduate Payroll information sheet. The three levels of pay are

  • (B) Beginners
  • (M) Masters : This level you attain after you have passed two prelims and have succesfully completed 24 credits of approved coursework (not counting the pedagogy seminar and the computer survival course). Students entering the program with a relevant masters degree can apply to the department of mathematics to be payed according to this scale from the beginning.
  • (P) Ph.D. : This level is given after all prelims and the Oral Exam have been succesfully completed.

 
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