Which is better? UG @ IVY or MS @ IVY?

College Search & Lists
1

I am working to major in ActSci. Wondering which is better:

  • Do an undergrad degree in ActSci at a place like UIUC or U of WI Madison and then go for a Master’s degree from Columbia or Wharton?

Pros: easier to get in and be focused with the major and cost of education could be lower.
Cons: No big exposure or connection at an UG level to the business world for internships or job prospects (not sure).

OR

Do an undergrad in a Columbia or Wharton or UChicago level school and then look for a master’s degree and work to pass the ActSci exams?

Pros: Great exposure to the business world, exposure to a great network and a connections built at an early stage; possibly leading to summer internships and potential job prospects.
Cons: Tough competition and high cost of education leading to a possible debt.

Any advise would be greatly appreciated.

2

Few Ivies (or peer schools) offer majors in actuarial science.
At most of those schools, you probably would want to major in math/statistics. Penn/Wharton and Cornell do offer actuarial studies concentrations within broader degree programs.

If you really want to major/concentrate in actuarial science, you’ll probably find more options among state universities. At out-of-state tuition rates, the net cost may or may not be lower than it would be at a selective private school that offers good need-based aid. Public universities generally don’t offer good need-based aid to OOS students … although their sticker prices are lower than Ivy sticker prices.

If you are an Illinois resident and do not qualify for much n-b aid at the Ivies, then UIUC probably is the school to beat for what you want. Actuaries are in relatively high demand, so strictly from a financial ROI perspective, it may not make sense to pay a big price premium for a school like UChicago (which has a strong liberal arts, not pre-professional, focus). No amount of business “connections” will make up for a lack of actuarial science credentials if that’s what you need for the career you want.

3

Great response @tk21769. Just adding one thing:

@shivaya, where do you get the idea that there is no

at UIUC or UWi?! That is simply wrong- do a little homework on their business school pages, look at the names of the companies that regularly recruit across the university, etc.

Also, Columbia has a 2 year core curriculum- very liberal arts, not pre-professional.

4

Run NPC s to see which colleges would be affordable. Don’t go by sticker price, use the NPC to see how much each would cost YOUR family.
First, you can’t takeeother ba nor ms at a top25school for granted. Are you in college right now? If so, where?

5

Thank you. I am going to be a senior in the coming year.

6

senior in HS?
Have you talked about finances with your parents?

7

I will be a senior. Me and my parents discuss about finances regularly. We strongly believe that it is NOT worth spending all that money and going into debt with the world going global and living with constant stress.

I have started to write my personal statements and some essay frameworks. Started to learn Excel and Java programming, while trying to work out a strategy on how to get the best ROI for the education. UIUC is probably my best best (as I am in IL) but trying to see if there are other good options in terms of scholarship as well, so I can fund my own education with least debt.

8

Check into UAlabama. Excellent honors college, automatic scholarships. Good option “just in case” - Uiuc can be super selective and is quite expensive in-state so it’s hard to use as a safety.
Do you know your efc? If it’s low( 10k or less) look into 100%need colleges since they will likely be cheaper than uiuc for a lower income/middle class family.
If it’s higher than what your parents can pay, aim for merit aid.
Can you run the NPC on , say, UChic, UIUC, Macalester, Earlham, st olaf, Ohio Wesleyan?(this is just to have a range of prices, not necessarily because you’d like them)