Master of Actuarial Science (Extended) (CRICOS course code 0100880) is a Masters Degree (Coursework) delivered by The University of Melbourne (UniMelb) over 2 years. This advanced program, falling under the field of Insurance and Actuarial Studies (081103), equips students with deep expertise in actuarial modeling, risk management, and financial mathematics. As a CRICOS-registered course (provider code 00116K), it meets Australian standards for international student enrolment. The University of Melbourne is a Group of Eight institution consistently ranked among the world's top universities, making this degree a prestigious choice for aspiring actuaries. Whether you aim for roles in insurance, superannuation, or investment, this course provides the analytical skills and industry recognition needed. HeadStart Academy offers this page as a free resource to help you compare CRICOS-registered courses like this one across Australia. All data is sourced from the official CRICOS register as of April 2026.
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The Master of Actuarial Science (Extended) is a coursework master's degree (AQF Level 9) in the field of Insurance and Actuarial Studies. Students develop advanced competencies in probability, statistics, financial economics, and actuarial techniques. The curriculum typically covers subjects such as life insurance, general insurance, pensions, and enterprise risk management. Graduates are prepared for professional accreditation pathways with bodies like the Actuaries Institute Australia. While specific unit offerings vary, the course emphasizes quantitative analysis, problem-solving, and ethical decision-making. This program is designed for students with a strong background in mathematics or statistics, aiming to transition into the actuarial profession or enhance their existing qualifications. The extended nature of the program allows for deeper exploration of specialized topics and may include additional elective options.
According to the CRICOS register, the Master of Actuarial Science (Extended) has a duration of 2 years (104 weeks). The language of instruction is English. This is a single qualification course (not a dual award) and does not include a foundation studies component. The course is delivered full-time on campus at the University of Melbourne's Parkville campus. Part-time or online options may be available at the provider's discretion but are not reflected in the CRICOS registration. International students should ensure their study load meets student visa requirements (typically 40 weeks per year for a 2-year course). The standard academic years at UniMelb run from February to November, with intake periods generally in Semester 1 and Semester 2.
The indicative tuition fee for the full 2-year program is A$128,084, as sourced from the CRICOS register. Additional non-tuition fees are estimated at A$150, bringing the estimated total to A$128,234. Please note that these fees are indicative only and are set by The University of Melbourne. They are subject to change without notice. The total does not include Overseas Student Health Cover (OSHC), living expenses, or the visa application charge. For the most current fee information, visit the University of Melbourne's official website. As a guide, international students in Melbourne should budget approximately A$20,000–A$25,000 per year for living costs, including rent (A$250–A$450 per week for share accommodation), groceries, and public transport.
International applicants generally need to demonstrate English language proficiency, typically an IELTS overall score of 6.5–7.0 (with no band below 6.0–6.5) or equivalent. Prior qualifications should include a bachelor's degree in a relevant discipline such as mathematics, statistics, actuarial science, or finance, usually with a strong academic record. Some programs may require prior study in specific quantitative subjects. The University of Melbourne may also consider relevant work experience. Foundation or pathway options are not directly associated with this course; however, the provider offers enabling programs for students who need to meet prerequisite knowledge. Always verify exact requirements with the University of Melbourne, as they can change. Meeting minimum requirements does not guarantee admission due to competitive selection.
This course does not include a mandatory work component. However, students are encouraged to seek internships or part-time work in related fields during their studies. International students on a Student visa (Subclass 500) are permitted to work up to 48 hours per fortnight during academic terms and unlimited hours during scheduled breaks, subject to visa conditions. Practical experience can enhance career prospects in the actuarial profession.
The Master of Actuarial Science (Extended) is delivered at the University of Melbourne's Parkville campus, located in the suburb of Parkville in Melbourne, Victoria. Melbourne is Australia's second-largest city, home to over 200,000 international students from 170 countries. The city boasts over 50 CRICOS-registered providers offering thousands of courses. Parkville is a vibrant inner-city suburb with excellent public transport connections via tram, train, and bus. Students can easily access the campus from the CBD and surrounding suburbs. Melbourne is known for its high quality of life, diverse culture, and strong employment opportunities in finance and insurance sectors.
International students enrolling in this CRICOS-registered course are eligible to apply for a Student visa (Subclass 500). Key requirements include providing a Confirmation of Enrolment (CoE) for the full duration, meeting Genuine Temporary Entrant (GTE) criteria, demonstrating sufficient financial capacity to cover tuition, living costs, and OSHC, and holding adequate Overseas Student Health Cover (OSHC). As of April 2026, the base visa application fee is approximately A$710 (subject to change). Students must maintain full-time enrollment and satisfactory course progress. Work rights are as mentioned in the Work Component section. The Education Services for Overseas Students (ESOS) Act protects your rights as an international student, including access to tuition assurance and complaint mechanisms. For detailed visa advice, consult a registered migration agent (MARA) or the Department of Home Affairs. HeadStart Academy does not provide immigration advice.
Melbourne is consistently ranked as one of the world's most livable cities, offering a dynamic blend of education, culture, and career opportunities. With over 200,000 international students, the city has a well-established support network for newcomers. The cost of living in Melbourne is slightly lower than in Sydney but higher than in regional areas. Indicative weekly expenses: rent for a one-bedroom apartment near campus costs around A$350–A$500; public transport (Myki) costs around A$45 per week for unlimited travel; and groceries run about A$80–A$120 per week. Melbourne's public transport system connects all major campuses, and the city has a thriving job market in finance, insurance, and professional services. The University of Melbourne's location in Parkville places students near the CBD, hospitals, and research institutes. For students seeking a vibrant, multicultural student life with strong employment outcomes, Melbourne is an excellent choice.
Follow these three steps to apply for this course at The University of Melbourne (UniMelb):
1. Research CRICOS-registered providers: Use HeadStart Academy to filter courses by level, field, and location. Compare providers like The University of Melbourne, which is CRICOS-registered (code 00116K). Ensure the course meets your career goals and academic background.
2. Apply directly to your chosen institution: Visit the University of Melbourne's website to access the online application portal. Prepare required documents: academic transcripts, English test results (e.g., IELTS), personal statement, and letters of recommendation if needed. Note application deadlines (typically October for Semester 1 intake and April for Semester 2). Pay the application fee if applicable.
3. Receive your Confirmation of Enrolment (CoE) and apply for your Student visa (Subclass 500): Once accepted, UniMelb will issue a CoE. Use this to lodge your visa application with the Department of Home Affairs. Provide evidence of financial capacity, OSHC, and GTE statement. After visa grant, you can arrange travel and accommodation. HeadStart Academy recommends starting the visa process at least 3 months before course start.
Ready to take the next step? Use HeadStart Academy to compare CRICOS-registered courses and start your application to the University of Melbourne.
View the full The University of Melbourne (UniMelb) profile →
Master of Actuarial Science (Extended) 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.