IAI massively expands student support — with potentially big consequences for the IFoA — and r/ActuaryUK deletes the discussion
Potentially very bad news for the IFoA: The Institute of Actuaries of India has massively expanded its Student Support Scheme, raising the family-income limit from ₹3 lakh to ₹8 lakh a year — a 167% increase.
Eligible students can receive support towards IAI membership, study materials, coaching and exam fees.
And the new rules now say students must pursue IAI exams “exclusively” as their core academic study.
Why should UK actuaries care?
Because India is an important overseas market for the IFoA. If more Indian students choose IAI rather than paying IFoA membership and exam fees, the IFoA loses revenue. Fewer Indian IFoA students means fewer subscriptions and fewer exam entries. And that raises an obvious question for UK students: who makes up the lost income?
Someone posted this development on r/ActuaryUK. The thread attracted 24 comments and 17 shares.
Then the moderators removed it.
What a remarkable way to run a subreddit supposedly devoted to UK actuarial issues. A development with potentially big consequences for IFoA student numbers, revenues and ultimately UK exam fees generates a lively discussion — so the moderators remove it.
Fortunately, r/ActuaryUK moderators don't get to delete the underlying news. We're here.
IAI has dramatically widened financial support for its own students.
UK actuaries have every reason to discuss what that could mean for the IFoA, and why IFoA fails to offer the same while charging vastly more than IAI.