Master of Actuarial Science (Enhanced) (CRICOS course code 0100879) is a Masters Degree (Coursework) delivered by The University of Melbourne (UniMelb) over 2 years. This page provides comprehensive information about fees, entry requirements, delivery locations, and student visa guidance for international students considering this program. Located in Melbourne, Victoria, The University of Melbourne is consistently ranked among the world's top universities and is the only Australian university in the prestigious Group of Eight to offer the Master of Actuarial Science (Enhanced). The course is registered on CRICOS, ensuring it meets Australian quality standards for international education. With over 1,500 CRICOS-registered providers offering 26,433 courses, HeadStart Academy is your free resource to find and compare programs. Read on to explore fees, study locations, visa requirements, and how to apply.
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This Master's degree falls under the field of Insurance and Actuarial Studies (081103) within Management and Commerce. Students develop advanced analytical and statistical skills to assess risk in insurance, finance, and investment. The curriculum covers probability theory, financial mathematics, stochastic modeling, and advanced actuarial techniques. Graduates are prepared for professional accreditation and roles as actuaries, risk analysts, and financial consultants. The program emphasizes both theoretical foundations and practical application, with case studies from real-world scenarios. As a CRICOS-registered course, it adheres to Australian quality frameworks.
The Master of Actuarial Science (Enhanced) is a full-time program with a CRICOS-registered duration of 104 weeks (2 years). The language of instruction is English. It is a single qualification, meaning you receive just this degree upon completion—no dual awards. The program does not include a foundation studies component. For students seeking a pathway, The University of Melbourne offers foundation programs, but this course itself does not include one. Study mode is face-to-face on campus, with access to online resources.
Indicative tuition fees for this course are A$128,084. Non-tuition fees are estimated at A$150, bringing the total to A$128,234. These figures are sourced from the CRICOS register as at April 2026 and are subject to change. Please note that Overseas Student Health Cover (OSHC), living expenses, and visa application charges are not included. The University of Melbourne may update fees annually—always check their official website. Melbourne's living costs are approximately A$500-700 per week for rent, groceries, and transport.
Applicants typically need a bachelor's degree in a relevant field such as mathematics, statistics, or actuarial science with strong academic performance. English language proficiency is required, with IELTS scores of 6.5-7.0 overall (or equivalent). The university may consider professional experience or additional qualifications. For specific requirements, consult the provider directly. Foundation or pathway options are not offered with this course—refer to The University of Melbourne for alternative entry programs.
This course does not include a mandatory work component. However, as a student visa holder, you will be eligible to work up to 48 hours per fortnight during term and unlimited hours during scheduled breaks. This allows you to gain valuable work experience in Melbourne's vibrant financial district. The University of Melbourne's Career Centre can help you find internships and part-time roles.
The course is delivered at The University of Melbourne's main campus in Parkville, Victoria. Located just 2 km from Melbourne's CBD, Parkville offers excellent public transport connections via tram and bus. Melbourne is home to over 100 CRICOS-registered providers, making it Australia's largest international student city. The campus features modern lecture theatres, libraries, and student services. With a diverse student population of over 50,000, you'll be part of a vibrant academic community.
International students require a Student visa (Subclass 500) to study this course. You must meet the Genuine Temporary Entrant (GTE) requirement and have sufficient financial capacity for tuition, living costs, OSHC, and travel. As of April 2026, student visa holders can work 48 hours per fortnight during study periods. OSHC is mandatory and costs approximately A$600-800 per year for single cover. HeadStart Academy recommends consulting a registered MARA agent for visa assistance.
Follow these three steps to enrol in Master of Actuarial Science (Enhanced) at The University of Melbourne:
1. **Research CRICOS-registered providers** – Use HeadStart Academy to filter by course level, field (Insurance and Actuarial Studies), and location (Victoria). Confirm that the course code 0100879 matches your interest.
2. **Apply directly to your chosen institution** – Check The University of Melbourne's entry requirements, submit your application with transcripts, English test scores (IELTS 6.5-7.0), and meet deadlines. Some programs may require a personal statement or interview.
3. **Receive your Confirmation of Enrolment (CoE) and apply for your Student visa (Subclass 500)** – Once admitted, you'll receive a CoE. Then lodge your visa application with the Department of Home Affairs, including proof of OSHC, financial capacity, and GTE statement.
Melbourne is consistently ranked as one of the world's most liveable cities. With a large international student community, you'll find support services, cultural diversity, and a thriving job market. Living costs are higher than other Australian cities, but the quality of education and networking opportunities are unmatched. The city has over 100 CRICOS providers, offering flexibility if you wish to transfer or explore other courses. Consider your budget, climate preference, and career goals when choosing Melbourne for your actuarial studies.
Ready to start your journey? Explore more courses or contact The University of Melbourne directly for personalised advice.
View the full The University of Melbourne (UniMelb) profile →
Master of Actuarial Science (Enhanced) is a CRICOS-registered programme at The University of Melbourne (UniMelb). Use this register extract [CRICOS register, Apr 2026] to cross-check codes, duration and indicative fees before you apply.
This page is general information only and not migration advice. Confirm Student visa (Subclass 500) requirements with the Department of Home Affairs.