Boston University is a private university that is located in Boston, Massachusetts. The university’s history goes all the way back to 1839 when it was first founded as the Newbury Biblical Institute. Currently, over 33,000 students attend Boston University, making it fairly large as far as student population goes for a private university. University tuition for the 2020 – 2021 academic year was $56,854. But the university did award almost $50 million in financial aid to incoming freshman for the previous year.

MASTERS PROGRAM

The Metropolitan College at Boston University offers a Master of Science in Actuarial Science. In addition, dual degree programs are available with administrative studies, computer science, computer information systems, and telecommunication. These dual degree programs enable students to apply 8 credits from one degree to a second degree in one of the disciplines, thus reducing their coursework by two courses. No undergraduate or doctoral programs are offered by the Metropolitan College.

Master of Science in Actuarial Science

A minimum of 43 graduate credit hours are required for this degree program. A computer laboratory course must be taken in addition to a minimum of 40 graduate credit hours at the 500-level or above. An average grade of B or higher must be maintained. Students chose to have a concentration in either insurance or mathematical finance.

For the concentration in insurance, core required courses include the following:

• Laboratory for Actuarial and Financial Data Analysis II
• Mathematics of Compound Interest
• Finance for Actuaries
• Actuarial Mathematics I
• Actuarial Statistics I
• Regression and Time Series

For the concentration in mathematical finance, core required courses include the following: laboratory for actuarial and financial data analysis II; mathematics of compound interest; finance for actuaries; actuarial mathematics I; mathematics for investment and portfolio theory; and mathematical finance for actuarial science. In addition, five courses in core electives must be taken.

THE FACULTY

The Metropolitan College at Boston University has more than 35 full-time faculty members. Some of these faculty members work in actuarial science, which is the only actuarial science program in the Boston metropolitan area.

ADMISSIONS

To be admitted to the Master of Science in Actuarial Science program, prospective students must meet the following requirements:

• Have a bachelor’s degree
• Have completed at least two semesters of calculus equal to MA 123 and MA 124
• Have completed one semester of multivariable calculus equal to MA 225

If a student does not meet these requirements, they may be admitted on a provisional basis. Sometimes prospective students will also be asked to submit official test scores from the GMAT or GRE.

SUMMARY

Boston University is a large private university. While tuition is fairly expensive, the university awards a significant amount of financial aid each year. The Metropolitan College at Boston University is home to the only degree program in actuarial science in the Boston metropolitan area. Students should have already acquired a bachelor’s degree before entering the graduate actuarial science program at the Metropolitan College at Boston University.