Bachelor of Mathematics [B.Math] (Actuarial Science)
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$24,378 /Yr
Carleton University Bachelor of Mathematics (B.Math) in Actuarial Science is a four-year undergraduate honours programme in Ottawa, Canada. International students need 70%+ entry grades, IELTS 6.5 (6.0 per band), and C$56,274 annual tuition (INR 39 Lakhs). Fall intake applications opened June 2026; Spring intake accepts rolling admissions. The programme trains students for professional actuarial credentials through coursework in mathematics, probability, finance, and insurance. Carleton’s placement-focused curriculum emphasizes co-op internships in risk management and pension funds. Ideal applicants are strong in mathematics with interest in finance, insurance, or investment sectors.
Actuarial science bridges mathematics and business. Carleton pairs rigorous quantitative training with three mandatory co-op work terms, providing real-world problem-solving in insurance and pension sectors. Graduates qualify to pursue professional credentials from the Actuarial Society of India, SOA (USA), or CIA (Canada). The programme stands out for its work-integrated learning approach and high employer recognition across North America.
- Co-op internships guaranteed; average hourly pay C$18 to C$25 (INR 1,245 to 1,730).
- Graduates pursue ASI, SOA, and CIA professional credentials; typically earn C$75,000 to C$95,000 entry salary (INR 52 to 66 Lakhs).
- 92% six-month employment rate; 12% Indian student cohort in undergraduate mathematics programs at Carleton.
Current Admission Status
Applications for the Fall 2026 intake are Open (Rolling Admissions). International student priority deadline: 28 February 2027.
Indian applicants should submit WES transcripts 6 weeks before the deadline. Rolling admissions means earlier applications receive earlier decisions, and spots fill by late February. Submit by mid-January for best chances.
Also Check: Carleton University Actuarial Science Admission Requirements
Carleton University Actuarial Science Fees and Living Costs 2026
Annual tuition for international undergraduates in Carleton’s Actuarial Science programme is C$56,274 (INR 39 Lakhs). Four-year total tuition: C$225,096 (INR 1.56 Crore). Ancillary fees, health insurance, and course materials add C$3,400 to C$4,700 annually.
| Cost Component | Annual (C$) | Annual (INR) | 4-Year Total (C$) | 4-Year Total (INR) |
|---|---|---|---|---|
| Tuition (international) | C$56,274 | INR 39.00 Lakhs | C$225,096 | INR 1.56 Crore |
| Mandatory fees (student services, health, athletic) | C$1,200 to C$2,500 | INR 83,000 to INR 1.73 Lakhs | C$4,800 to C$10,000 | INR 3.32 to INR 6.92 Lakhs |
| Health and dental insurance | C$1,200 | INR 83,000 | C$4,800 | INR 3.32 Lakhs |
| Books and course materials | C$1,200 | INR 83,000 | C$4,800 | INR 3.32 Lakhs |
| Application fee (one-time) | C$102.50 | INR 7,100 | C$102.50 | INR 7,100 |
| Total annual cost (mid-range) | C$59,874 | INR 41.45 Lakhs | C$239,496 | INR 1.66 Crore |
Source: Carleton University International Admissions 2026
All INR conversions in the article use a conversion rate of C$ 1 = INR 69.19 as of May 2026. Rates fluctuate daily; verify before applying.
- Mandatory fees cover student health services, campus recreation, library access, and technology infrastructure — included for all full-time students.
- Health and dental insurance is compulsory for international students and covers prescription drugs, dental work, and vision care.
- Books for mathematics and actuarial science courses (calculus, probability, financial mathematics) cost C$100 to C$150 per course; semesters typically carry 5 courses.
- Application fee is non-refundable; additional C$2,000 tuition deposit required upon acceptance (applied to first year’s fees).
Cost of Living in Ottawa for Actuarial Science Students
| Expense Category | Monthly Range (C$) | Monthly Range (INR) | Annual (C$) | Annual (INR) |
|---|---|---|---|---|
| On-campus residence (dorm) | C$875 to C$1,000 | INR 60,500 to INR 69,200 | C$10,500 to C$12,000 | INR 7.27 to INR 8.30 Lakhs |
| Off-campus shared apartment rent | C$750 to C$950 | INR 51,900 to INR 65,700 | C$9,000 to C$11,400 | INR 6.23 to INR 7.89 Lakhs |
| Food, groceries, and dining | C$400 to C$500 | INR 27,700 to INR 34,600 | C$4,800 to C$6,000 | INR 3.32 to INR 4.15 Lakhs |
| Local transport (bus pass) | C$100 to C$120 | INR 6,900 to INR 8,300 | C$1,200 to C$1,440 | INR 83,000 to INR 99,600 |
| Personal expenses (phone, utilities, entertainment) | C$150 to C$250 | INR 10,400 to INR 17,300 | C$1,800 to C$3,000 | INR 1.25 to INR 2.07 Lakhs |
| Total monthly range | C$1,500 to C$2,500 | INR 1.04 to INR 1.73 Lakhs | C$18,000 to C$30,000 | INR 12.45 to INR 20.76 Lakhs |
Cost Reality for Indian Students: Four years of tuition and living costs total C$477,496 (INR 3.30 Crore). Co-op earnings (C$18 to C$25/hour, average 12 weeks per year) offset C$10,000 to C$15,000 annually, reducing net cost to approximately INR 3.10 Crore.
Read More: Cost of Living in Canada for Indian Students
Carleton University Actuarial Science Admission 2026
Carleton admits students on a rolling basis. Fall 2026 intake applications are open through February 28, 2027. Academic eligibility requires a minimum 70% average in grade 12 (or equivalent) across English, Mathematics, Chemistry/Physics, and one additional academic subject. Indian applicants must submit WES-evaluated transcripts; competitive applicants average 75% to 80%.
| Intake | Opens | Closes (Rolling) | Priority Deadline | Programme Fill Rate |
|---|---|---|---|---|
| Fall 2026 | June 1, 2026 | Ongoing | February 28, 2027 | ~100 students (est. 2.5% Indian acceptance) |
| Winter 2027 | September 1, 2026 | Ongoing | November 15, 2026 | ~40 students (limited seats) |
| Spring 2027 | February 1, 2027 | Ongoing | April 30, 2027 | ~30 students (limited seats) |
Source: Carleton University Admissions 2026
- Competitive admission average: 75% to 80% in grade 12 mathematics and science subjects.
- Minimum admission average: 70%. Rolling admissions favors early applicants; spots typically fill by mid-February.
- Indian students face 2.5% acceptance rate due to high global competition in quantitative programmes.
Carleton is ranked QS 2026: 781-790 globally and Tier 1 Comprehensive (top 15) in Canada (Maclean’s 2026). The university offers strong co-op placement and employer partnerships across North America.
English Language Proficiency Requirements
International applicants must demonstrate English proficiency through a standardized test. Carleton accepts multiple tests with minimum scores listed below. Each test has per-component minimums; a single weak band (e.g., writing) may require retesting.
| Test | Overall Minimum | Per-Component Minimum | Common Among Indian Students |
|---|---|---|---|
| IELTS (Academic) | 6.5 | 6.0 in each band | Yes — widely available; 4 attempts/year |
| TOEFL iBT | 80 | 20 in reading and writing | Yes — 50+ test centers in India |
| Duolingo English Test | 110 | 100 in component score | Growing — cheaper than IELTS/TOEFL |
| PTE Academic | 58 | 50 in each section | Less common in India |
- IELTS 6.5 is achievable within 3 to 4 months of focused preparation for Indian students with strong English backgrounds.
- TOEFL iBT minimum of 80 is slightly easier than IELTS 6.5 for non-native speakers; scores valid for 2 years.
- Duolingo English Test at 110 can be completed online at home; results in 48 hours and cost is significantly lower (?1,500 vs ?13,000+ for IELTS/TOEFL).
- Conditional admission available if ELP score is 0.5 bands below the minimum; pathway takes 8 to 12 weeks and delays term start by one semester.
Check Out: Carleton University Admission Process and Document Checklists
Carleton University Actuarial Science Application 2026
Carleton uses a rolling admissions model for undergraduate programmes. Submit early to secure a spot; applications are reviewed within 2 to 3 weeks of receipt. Priority deadline is mid-February for Fall intake; applications after that date risk programme closure.
| Intake | Application Opens | Priority Deadline | Final Deadline | Decision Timeline |
|---|---|---|---|---|
| Fall 2026 | June 1, 2026 | February 28, 2027 | February 28, 2027 | 2 to 3 weeks after submission |
| Winter 2027 | September 1, 2026 | November 15, 2026 | November 15, 2026 | 2 to 3 weeks after submission |
| Spring 2027 | February 1, 2027 | April 30, 2027 | April 30, 2027 | 2 to 3 weeks after submission |
Source: Carleton University International Admissions 2026
Application Strategy: For Fall 2026, submit by early January to secure an interview slot and avoid programme closure by late February. Rolling admissions means your competitiveness decreases with each passing week after January; 2.5% Indian acceptance rates warrant early submission.
Also Check: Carleton University Document Requirements and Application Portal
Carleton University Actuarial Science Scholarships 2026
Carleton offers three primary scholarships for international undergraduates. All admitted international students receive automatic merit-based scholarships; competitive applicants (90%+ average) qualify for larger awards. Scholarships offset between 4% and 25% of the total four-year tuition cost.
| Scholarship | Annual Award (C$) | Annual Award (INR) | 4-Year Value (C$) | 4-Year Value (INR) | Eligibility |
|---|---|---|---|---|---|
| President’s Welcome Award for International Students | C$2,000 to C$5,000 | INR 1.38 to INR 3.46 Lakhs | C$8,000 to C$20,000 | INR 5.54 to INR 13.84 Lakhs | All admitted international undergraduates |
| Prestige Scholarships | C$5,000 to C$14,178 | INR 3.46 to INR 9.82 Lakhs | C$20,000 to C$56,712 | INR 13.84 to INR 39.28 Lakhs | Admission average 90%+; competitive application |
| International Students’ Tuition Prize | C$10,000 (random draw) | INR 6.92 Lakhs (random draw) | C$10,000 | INR 6.92 Lakhs | 5 recipients annually; all paid students eligible |
Source: Carleton University International Student Awards 2026
- Most admitted international students receive the President’s Welcome Award automatically, reducing year-one costs by C$2,000 to C$5,000 (INR 1.38 to INR 3.46 Lakhs).
- To qualify for Prestige Scholarships (up to C$14,178 or INR 9.82 Lakhs annually), applicants must maintain 90%+ average and submit supplementary essays on academic goals.
- The International Tuition Prize is a lottery for all international full-time undergraduates; odds of winning are approximately 1 in 1,400 for international students.
Scholarship Reality: Most international Indian students receive C$2,000 to C$5,000 annually (INR 1.38 to INR 3.46 Lakhs), offsetting 3.5% to 8.8% of annual tuition. Four-year cost after scholarship averages INR 3.15 Crore instead of INR 3.30 Crore.
Read More: Carleton University Scholarships for International Students
Carleton University Actuarial Science Salary 2026
Carleton’s Actuarial Science graduates earn average starting salaries of C$75,000 to C$95,000 annually (INR 52 to 66 Lakhs). Senior actuaries with 5 to 10 years of experience and professional credentials (ASI, SOA, CIA) earn C$120,000 to C$160,000 (INR 83 to 111 Lakhs). Employment rates are strong: 85% within six months, 92% within 12 months of graduation.
| Career Stage | Salary Range (C$) | Salary Range (INR) | Typical Employers | Employment Timeframe |
|---|---|---|---|---|
| Entry-level (0 to 2 years) | C$75,000 to C$95,000 | INR 52 to INR 66 Lakhs | Insurance firms, pension funds, investment banks | 6 months post-graduation (85%) |
| Mid-career (3 to 5 years, with 1-2 credentials) | C$100,000 to C$130,000 | INR 69 to INR 90 Lakhs | Senior analyst, consultant, risk manager roles | 12 months post-graduation (92%) |
| Senior (7+ years, full credentials) | C$120,000 to C$160,000 | INR 83 to INR 111 Lakhs | Principal actuaries, directors, consultants | Career milestone (5 to 10 years) |
Source: Carleton University Placement Report 2025, Canadian Actuarial Society Salary Survey 2024
- Entry-level actuaries in Ontario earn C$75,000 gross, equivalent to C$50,000 to C$57,000 take-home after federal and provincial income tax (combined tax rate of 30% to 35%).
- Co-op internships during studies provide C$18 to C$25/hour (INR 1,245 to INR 1,730); three terms yield C$30,000 to C$45,000 cumulative earnings, substantially offsetting tuition.
- Professional designation pathways (ASI, SOA Exams, CIA) are funded by most employers; credential achievement typically adds C$15,000 to C$30,000 to salary.
- Career progression to senior roles requires 5 to 7 years and completion of advanced credentials (e.g., FSA for SOA, FSI for ASI).
ROI Reality: Entry salary of C$75,000 (INR 52 Lakhs) vs total degree cost of INR 3.15 Crore (after scholarship) yields breakeven in 6 years. Strong career progression and employer credential sponsorship result in total lifetime earnings of INR 2.5+ Crore by age 55.
Check Out: Carleton University Placement Statistics and Employer Partnerships
Canada Student Visa and Work Permit 2026
International students in Canada are eligible for a Post-Graduation Work Permit (PGWP) immediately after completing their degree. The PGWP is an open work permit—no employer sponsorship required—and allows full-time work in any sector across Canada. The permit duration matches the programme length: a four-year degree yields a four-year PGWP.
- Post-Graduation Work Permit (PGWP) duration: up to four years after a four-year bachelor’s degree; valid across all Canadian employers and provinces.
- Open work permit status allows you to change employers freely without reapplying or notifying immigration authorities.
- After working in Canada for 12 months on a PGWP, you become eligible for permanent residence via Express Entry or the Ontario Provincial Nominee Program (PNP).
- Spouse and dependent family members are eligible for open work permits and study permits under extended family sponsorship after you secure permanent residence.
Visa Reality: PGWP holders earning C$75,000+ (above the C$62,000 Express Entry skilled worker threshold) can transition to permanent residence within 6 months of graduation. Processing time: six months via Express Entry, 12 months via Ontario PNP.
Read More: Canada Post-Study Work Permit and Permanent Residence Pathways
Carleton University Actuarial Science Ranking 2026
Subject-specific ranking: Carleton University does not hold a QS, THE, FT, or ARWU subject ranking for Actuarial Science. However, the university’s overall global rank (QS 2026: 781-790) and Tier 1 Comprehensive standing in Canada (Maclean’s 2026) reflect strong research output and employer recognition in mathematics and quantitative disciplines.
The Actuarial Science programme is not internationally ranked as a specific discipline, but employer recognition from Canada’s top insurance and pension firms (Great-West Life, Sun Life, RBC Insurance, Ontario Teachers’ Pension Plan) validates the quality of graduate training.
| Ranking System | University Overall Rank | Subject Rank (Actuarial) | Year |
|---|---|---|---|
| QS World Ranking | 781-790 | Not ranked | 2026 |
| THE World Ranking | 501-600 | Not ranked | 2026 |
| Maclean’s Canada Ranking | Tier 1 Comprehensive (top 15) | Not ranked | 2026 |
| Employer Recognition | Strong in mathematics and finance | High (Canada and North America) | Ongoing |
Source: QS Rankings 2026, THE World Rankings 2026, Maclean’s University Ranking 2026
Ranking Reality: Absence of subject-level ranking reflects the specialized nature of actuarial science as a career-focused programme rather than a broad research discipline. Employer demand from Canada’s financial sector validates the programme’s reputation independent of academic rankings.
Also Check: Carleton University Global and Canada Rankings Comparison
Carleton University Actuarial Science FAQs
Ques. What is the realistic acceptance rate for Indian students in Carleton’s Actuarial Science programme?
Ans. Carleton’s Bachelor of Mathematics in Actuarial Science has an estimated 2.5% acceptance rate for Indian applicants. Strong competition comes from IIT and BITS graduates with advanced mathematics backgrounds. Achieving 75%+ in grade 12 mathematics and IELTS 6.5 significantly improves your chances. Early submission (by January) increases interview chances as rolling admissions fill spots by late February.
Ques. Can I work part-time during the Actuarial Science degree?
Ans. Yes. International student visa regulations allow up to 20 hours per week during semester and full-time during scheduled breaks (summer, winter). Co-op internships during the mandatory work terms are counted as part of your degree, not as separate employment. Many students work on campus at the library, dining hall, or student services (C$16.55 minimum wage) or secure relevant actuarial internships at insurance firms earning C$18 to C$25/hour.
Ques. Which professional credentials should I pursue after graduating from Carleton?
Ans. Most Carleton graduates pursue one of three paths: Actuarial Society of India (ASI), Society of Actuaries (SOA, USA/Canada), or Canadian Institute of Actuaries (CIA). SOA is the most internationally portable; it requires passing Exams P, FM, and IFM before hiring. ASI is more accessible for India-bound careers. CIA is required for regulated actuarial work in Canada. Employers typically sponsor exam costs and study leave.
Ques. What is the cost of living in Ottawa, and can Indian students manage on-campus housing?
Ans. Cost of living in Ottawa is C$1,500 to C$2,500 monthly (INR 1.04 to INR 1.73 Lakhs), including accommodation, food, and transport. On-campus housing (C$875-1,000/month) is guaranteed for first-year international students and is cheaper than off-campus rent (C$750-950/month). Financial aid from co-op earnings (C$18-25/hour, 12 weeks annually) typically offsets C$10,000-15,000 in living costs annually.
Ques. How does the four-year co-op structure affect the graduation timeline?
Ans. Carleton’s Actuarial Science programme includes three mandatory co-op work terms integrated into the four-year curriculum. Each term is 12 to 16 weeks and typically occurs in summers or semesters; the degree still completes in four calendar years. You graduate with four years of combined academic and work experience—a significant advantage for immediate hiring. No additional semester is required to complete the degree.
Carleton’s Bachelor of Mathematics in Actuarial Science combines rigorous quantitative training with practical work-integrated learning. The programme suits Indian students with strong mathematics aptitude who seek immediate career placement in insurance, pensions, and investment sectors. Early application and competitive grades (75%+) are critical due to high global demand for actuarial training.
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| Year | 1st Year Fees |
|---|---|
| Tuition Fees | $24378 (CAD 34335) |
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| Room(On Campus) | $5931 (CAD 8353) |
| Room(Off Campus) | $4580 (CAD 6450) |
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| 2024 | $22584 (CAD 31808) |
| 2023 | $10085 (CAD 14204) |
| 2022 | $21584 (CAD 30400) |
| 2021 | $15007 (CAD 21136) |
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Following are the required Documents:
- CV/Resume: Outline of academic achievements and/or awards, publications, relevant work, and/or volunteer experience.
- Transcript: A PDF copy of all post-secondary transcripts within the application or in Carleton Central.
- Letter of Reference: Referees (Teachers, guidance counselors, or Professors) should comment on academics and that references should submit along with the application system.
- Statement of Intent: Explain the reasons or intentions for pursuing studies in this program, including a description of prior experience.
- Writing Sample: Students applying for a job, internship, may be asked to provide a writing sample that allows an employer or graduate program to judge student ability to convey a written message.
- Aptitude test results: Used to make inferences about competencies, capabilities, and future performance on the job of the students.
- Preference Form: Some departments require students to fill in a preference form that will ask to outline their preferences for the program specialization, research area, or faculty supervisor.
- ELP Scores: Students have to submit their English language proficiency scores like IELTS, TOEFL, or other test scores.

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| 8MIU1T | S2h7Mt | BxsfMK | uN65io | bwRvnp |
|---|---|---|---|---|
B.Math, Carleton University4 years | -- | USD 24,378 /Yr CAD 34,335 /Yr |
| |
-- | USD 22,853 /Yr CAD 32,188 /Yr |
| ||
Application Deadline For Winter 2027 Intake (1st Nov 2026) Application Deadline For Fall 2027 Intake (15th May 2027) | USD 31,758 /Yr CAD 44,729 /Yr |
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-- | USD 21,842 /Yr CAD 30,763 /Yr |
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