An actuary uses math, statistics, and computer models to predict how likely future events are and how much they could cost. You study things like accidents, illnesses, natural disasters, life expectancy, and business risks so companies can make smart financial decisions. Most actuaries work for insurance companies, consulting firms, government agencies, or large financial organizations. You spend much of your day building models, analyzing large datasets, testing assumptions, and explaining your findings to managers. Modern actuaries regularly use programming languages, databases, spreadsheet modeling, visualization software, and specialized actuarial modeling systems to solve complex problems. In 2026 and beyond, artificial intelligence helps organize data and test scenarios, but actuaries remain responsible for interpreting results, validating assumptions, and making professional recommendations.
The most common pathway is earning a bachelor's degree in actuarial science, mathematics, statistics, finance, economics, or a closely related quantitative field while taking advanced courses in probability, statistics, calculus, finance, economics, and computer programming. Students typically learn Microsoft Excel, SQL, Python, R, Power BI, database systems, and actuarial modeling software while completing internships with insurance companies or consulting firms. During college or shortly afterward, students begin passing the professional actuarial exams administered by the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS), since employers strongly value exam progress before graduation. Most graduates begin working as Actuarial Analysts while continuing to complete additional professional examinations over several years. Employers in 2026 also value candidates who can demonstrate programming projects, predictive models, dashboards, and statistical analyses through internships, research projects, or professional portfolios.
| School | Location | Distance from ZIP Code 61615 |
|---|---|---|
| Bradley University | Peoria, Illinois | 4.8 miles |
| Millikin University | Decatur, Illinois | 73.3 miles |
| Illinois College | Jacksonville, Illinois | 79.9 miles |
| University of Illinois Urbana-Champaign | Champaign, Illinois | 86.5 miles |
| Northern Illinois University | DeKalb, Illinois | 91.2 miles |
| Aurora University | Aurora, Illinois | 94.7 miles |
| Olivet Nazarene University | Bourbonnais, Illinois | 94.9 miles |
| North Central College | Naperville, Illinois | 102.6 miles |
| Elmhurst University | Elmhurst, Illinois | 116.2 miles |
| University of Iowa | Iowa City, Iowa | 116.4 miles |
| Cornell College | Mount Vernon, Iowa | 122.9 miles |
| Roosevelt University | Chicago, Illinois | 128.1 miles |
| DePaul University | Chicago, Illinois | 128.6 miles |
| Indiana University Northwest | Gary, Indiana | 128.8 miles |
| Mount Mercy University | Cedar Rapids, Iowa | 136.0 miles |
Employers expect candidates to have strong grades in mathematics, probability, statistics, and finance while also demonstrating proficiency with Excel, SQL, Python, R, and data visualization tools. Passing one or more professional actuarial exams before graduation is one of the strongest indicators of readiness because it proves mastery of the technical material required for the profession. Internship experience with insurance companies, consulting firms, pension organizations, or financial institutions provides practical exposure to pricing models, reserving, forecasting, and risk analysis. Hiring managers also look for candidates who can build statistical models, explain technical findings clearly, validate model assumptions, and document their work carefully. A portfolio containing predictive models, programming projects, dashboards, statistical analyses, and data visualizations provides concrete evidence that a graduate can perform the analytical work expected of actuarial professionals in 2026 and beyond.