Master of Actuarial Science (CRICOS course code 0101265) is a Masters Degree (Coursework) delivered by The University of Melbourne (UniMelb) over 1 year 6 months (~78 weeks). This program is designed for graduates who want to specialise in actuarial science, a field that applies mathematical and statistical methods to assess risk in insurance, finance, and other industries. As a CRICOS-registered course, it meets Australian Government standards for international student enrolment. The University of Melbourne is a leading research-intensive university located in Parkville, Victoria, known for its strong programs in commerce and finance. Here on HeadStart Academy, we provide this page as a free resource to help you understand the course details, fees, entry requirements, and visa process. Always verify current information with the provider, as fees and dates are subject to change. This page draws on the official CRICOS register as at April 2026.
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The Master of Actuarial Science falls under the field of education '08 - Management and Commerce', specifically '0811 - Banking, Finance and Related Fields' and '081103 - Insurance and Actuarial Studies'. At the Masters Degree (Coursework) level (AQF Level 9), students typically engage with advanced coursework that builds on undergraduate knowledge. For actuarial science, this includes subjects like probability and mathematical statistics, financial mathematics, actuarial modelling, and risk management. Graduates are prepared for professional roles as actuaries, risk analysts, or financial mathematicians. The program emphasises both theoretical foundations and practical applications, often using real-world datasets and case studies. While specific subjects are determined by the university, the broad learning outcomes align with the competencies required for professional accreditation. As with all CRICOS-registered courses, the curriculum meets Australian quality standards. For detailed subject information, refer to The University of Melbourne's official website.
According to the CRICOS register, the Master of Actuarial Science has a duration of 1 year 6 months (78 weeks). The course is delivered in English and is a single qualification (not a dual award). It does not include a foundation studies component or a mandatory work component (see Work component section below). Full-time study is typical for international students to maintain visa compliance. The University of Melbourne offers this program on-campus only; there is no online delivery option. Studying in Melbourne provides access to a vibrant student community and strong industry connections, particularly in finance and insurance. As a CRICOS-registered course, the duration stated is the minimum time to complete, though actual progress depends on the student's course load. Always confirm the expected completion timeline with the university.
The indicative tuition fee for the Master of Actuarial Science is A$94,538, with a non-tuition fee of A$150, bringing the estimated total to A$94,688. Please note: These figures are sourced from the CRICOS register as at April 2026 and are indicative only. Fees are set by The University of Melbourne and are subject to change each year. International students should also budget for Overseas Student Health Cover (OSHC), living costs (including accommodation, food, transport), and the student visa application charge. These are not included in the above figures. To get the most current fee schedule, we recommend visiting the university's official website or contacting their admissions office. HeadStart Academy is not responsible for fee discrepancies; always confirm directly with the institution before applying.
General entry requirements for a Masters Degree (Coursework) like the Master of Actuarial Science typically include a recognised undergraduate degree with relevant background (e.g., mathematics, statistics, or actuarial studies). The English language requirement is IELTS 6.5-7.0 overall (with no band below 6.0). Other English tests such as TOEFL or PTE may also be accepted. Some providers may require work experience or a personal statement. For this specific course at The University of Melbourne, it's essential to check their official entry requirements page, as prerequisites can include specific subjects or minimum GPA. If you do not meet the criteria, some universities offer pathway programs (e.g., Graduate Certificate or Diploma) that can lead to the masters. Always consult the provider's admissions page for precise requirements. HeadStart Academy does not assess eligibility; we recommend contacting the university directly or a registered education agent.
This course has no compulsory work component. Some postgraduate programs include internships or industry placements, but the Master of Actuarial Science at The University of Melbourne does not mandate a work component. However, international students on a Student visa (Subclass 500) are permitted to work up to 48 hours per fortnight during the academic term and unlimited hours during scheduled breaks, subject to visa conditions. This allows you to gain part-time experience in related fields if you wish, but it is not part of the course itself. For information on work rights and conditions, visit the Department of Home Affairs website.
The Master of Actuarial Science is delivered at The University of Melbourne's main campus in Parkville, Victoria. Parkville is a suburb very close to Melbourne's central business district, known for its parklands, cultural institutions, and the University of Melbourne's historic buildings. Melbourne is Australia's second-largest city and a major education hub, with over 1,500 CRICOS-registered providers offering more than 26,000 courses across the country. The city hosts a large international student population and offers excellent public transport (trains, trams, buses) connecting Parkville to the city centre and other suburbs. Living costs in Melbourne are moderate compared to Sydney; indicative weekly rent for a shared apartment is around $250-$350, and monthly groceries about $400-$500. For a detailed breakdown, see our Melbourne student guide on HeadStart Academy.
International students enrolling in this CRICOS-registered course will need a Student visa (Subclass 500) to study in Australia. To apply, you must first receive a Confirmation of Enrolment (CoE) from The University of Melbourne. Visa requirements include proving genuine temporary entrant (GTE) status, meeting English proficiency (typically IELTS 6.5-7.0 or equivalent), and demonstrating sufficient financial capacity to cover tuition, living costs, dependent expenses, and travel. You must also maintain Overseas Student Health Cover (OSHC) for the duration of your stay. Student visa holders can work up to 48 hours per fortnight during study periods and unlimited hours during scheduled breaks. It is important to note that HeadStart Academy is not a registered migration agent and does not provide immigration advice. For detailed visa guidance, consult a registered MARA agent or the Department of Home Affairs. All CRICOS-registered courses are protected under the ESOS Act, ensuring your rights as an international student.
Follow these three steps to apply for the Master of Actuarial Science at The University of Melbourne (UniMelb):
1. Research CRICOS-registered providers: Use HeadStart Academy to compare courses and providers. Filter by course level (Masters Degree), field (Actuarial Science), and location (Melbourne). Ensure the provider is CRICOS-registered – The University of Melbourne is (CRICOS 00116K).
2. Apply directly to your chosen institution: Visit The University of Melbourne's official website to find the exact entry requirements, English language test scores, application deadlines, and required documents (transcripts, references, etc.). Submit your application online or through an authorised agent.
3. Receive your Confirmation of Enrolment (CoE) and apply for your Student visa (Subclass 500): Once accepted, the university will issue a CoE. Use this to lodge your visa application via the Department of Home Affairs. Include OSHC evidence, financial documents, and your GTE statement. For visa processing times and conditions, check homeaffairs.gov.au.
Melbourne is consistently ranked as one of the world's most liveable cities, with a diverse population and a strong economy. For actuarial science students, Melbourne offers proximity to major insurance and financial firms, providing networking and internship opportunities. The city has a robust public transport system – trams are free within the CBD, and trains connect suburban areas. Cultural events, food scenes, and sporting events make it an engaging place to live. However, cost of living can be high compared to smaller cities. Indicative weekly expenses: rent (shared) $250–$400, groceries $150–$200, transport $40–$50. Many students work part-time to offset costs. The University of Melbourne provides support services including career counselling, accommodation assistance, and academic resources. Before deciding, consider your budget and lifestyle preferences. HeadStart Academy's Melbourne guides offer more detailed information.
Ready to take the next step? Explore the Master of Actuarial Science on The University of Melbourne's website or contact their admissions team for personalised advice. Remember, all courses listed on HeadStart Academy are CRICOS-registered and backed by the ESOS Act.
View the full The University of Melbourne (UniMelb) profile →
Master of Actuarial Science 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.