Degree program

Master of Actuarial Science (MActSc) — Co-op

University of Waterloo

A professional conversion master's with actuarial coursework and a co-op term, for applicants with little or no prior actuarial study.

Good for: I have a degree from abroad in mathematics, engineering or another quantitative subject. Must I start again?

Where do I start? ↓

Checked October 20, 2026 How we check information

At a glance

Delivery: In person
Cost: Confirm cost with provider
Who can access it: International equivalent degrees are considered. Study and co-op work authorization and fee category require applicant-specific confirmation.
Intake: Applications advertised — confirm places

Fall 2027 applicants can apply directly only to the co-op version. Older descriptions of the non-co-op curriculum are not the new cohort's structure.

01 / Start here

Your first steps

Check international degree equivalence and quantitative preparation against the admissions page.
Prepare the statement, references and transcripts; apply through Waterloo's graduate application and confirm the revised fee budget.

Waterloo's graduate program index states Fall 2027 applications are being accepted. This program lists January 6 for September entry.

Visit provider ↗

02 / Check the fit

Requirements and limits

Four-year honours bachelor's degree with overall 78% or international equivalent.
A diagnostic test and interview may be required; the department tests calculus, linear algebra, probability and statistics.
Resume, statement of interest, transcripts, program-specific questions and two references, normally academic.
If English proof is required: IELTS 7.0 with writing and speaking at least 6.5, or an accepted equivalent/exemption.

International equivalent degrees are considered. Study and co-op work authorization and fee category require applicant-specific confirmation.

Important limits and details to confirm

Fall 2027 applicants can apply directly only to the co-op version. Older descriptions of the non-co-op curriculum are not the new cohort's structure.
The university says existing accreditation is retained except IFoA CP1; exact professional credits depend on the relevant body and cohort. CIA membership is separate.
A co-op option does not guarantee employment.

Location

Waterloo, Ontario

03 / Understand the commitment

Costs and possible funding

Exact revised tuition, incidental and co-op fees not yet confirmed. The transition page says revised fee schedules are expected in Winter 2027; do not reuse the old three-term program's total.

Mary R. Hardy Graduate Award in Actuarial Science (scholarship, provider published): Selective award for an incoming MActSc student with academic excellence and community service. Explain these in the admission package; current value not confirmed. The program does not promise routine bursary or research-assistantship funding.

OSAP (mixed aid, conditional external lead): Ask Waterloo to confirm designation for the revised co-op program and personal eligibility; Ontario residence, eligible status, financial need and enrolment conditions apply.

04 / Check with the provider

Sources and where to get help

Use the provider’s official starting page to ask about your situation. Published information was checked on October 20, 2026; the provider must confirm current availability and personal eligibility.