The Charitable Fund offers bursaries and prizes to undergraduates entering their final year of a degree in Actuarial Science at a UK university. The relevant examinations must be recognised by the Institute and Faculty of Actuaries (IFoA) for exemption from the examinations set by the professional body.

The Charitable Fund does not provide bursaries or prizes for postgraduate students. This includes those studying for Master’s degrees in Actuarial Science.


The award of a bursary is based on the need to enhance financial resources to facilitate study and is not intended to denote academic merit or performance. Applicants are required to:-

  • Provide detailed information concerning their financial position including what efforts they have taken in order to raise the funding themselves
  • Be making good progress in their examinations and have achieved and be likely to continue to achieve the maximum possible number of exemptions from the IFoA examinations.
  • Demonstrate their genuine, serious intentions of joining the IFoA, pursuing the remaining examinations and qualifying with the UK professional body.

Applications have to be supported by the Actuarial Science department of their University .  On receiving an application the Trustees will take references from the appropriate course tutor to confirm the details of each applicant’s progress.

Bursaries will normally be up to £1,000 but this figure may be varied in appropriate cases.

Applications should be made by the end of June in the academic year prior the final year of study. More details on how and when to apply, together with the application form, are available here.

CACT Bursaries Student Instructions - 2022-23

CACT Bursaries 2022-23 Online application form

University Prizes

Prizes are awarded for outstanding performance in the penultimate year examinations with eligible students being nominated by their University.  Certificates and cheques are presented usually at an event such as the Actuaries' Company lecture at the University.