Aegon Transamerica Foundation Champions Next Generation of Actuaries at Morgan State University

February 28, 2024

In a move to cultivate future talent in the actuarial field, the Aegon Transamerica Foundation has announced that it will fund a new scholarship program at Morgan State University, the only Historically Black College or University (HBCU) that offers a bachelor's degree in actuarial science. The new scholarships will be awarded based on students' performance on professional actuarial exams, providing a unique incentive for aspiring actuaries and bolstering diversity within the profession.

"I am extremely excited about this partnership as it will be very beneficial to both the program and the students,” said Dr. Candice Marshall, director of the Actuarial Science Program at Morgan State, located in Baltimore. “The students now have an even bigger incentive to pass actuarial exams without having to worry about their bills. We now have an actuarial exam fund to attract more promising students."

The Foundation’s $25,000 grant to Morgan State aims to provide significant motivation for actuarial students, awarding a $3,000 scholarship to eight individuals upon successful completion of an actuarial exam. By design, the scholarship is intended to encourage students to excel in their actuarial exams and encourage social inclusion in the insurance industry.

“Our support for Morgan State University's actuarial program demonstrates our dedication to building more inclusive communities through financial and social empowerment, and our confidence in the ability of Morgan State students to succeed in the actuarial field," said Maurice Perkins, president and chair of the Aegon Transamerica Foundation. “By rewarding exam performance, we are investing in students' ability to overcome challenges and achieve their goals.”

Tyler Shaia, a sophomore at Morgan State who had the opportunity to intern at Transamerica last summer, will be the first to benefit from this scholarship. Shaia's successful completion of the Financial Mathematics exam during the February 2024 exam window exemplifies the determination and hard work the scholarship aims to reward.

This collaboration between the Aegon Transamerica Foundation and Morgan State University underscores the Foundation’s commitment to being a force for good in the communities where Transamerica employees live and work. Through this initiative, Morgan State's Actuarial Science Program is primed to engage and support more promising talent—as well as foster greater diversity and expertise within the actuarial profession.