DOCTORAL PROGRAM (PhD) IN RISK MANAGEMENT AND INSURANCE

Frequently Asked Questions (FAQS)

This page contains answers to common questions about our Ph.D. Program.

1. When is the Application due?
2. Where and how can I obtain an Application?
3. Am I eligible for financial Aid?
4. What is the typical background of a successful applicant?
5. What can I study at GSU?
6. Can I study part-time?
7. Are there different admissions requirements for citizens of countries other than the U.S.?
8. How long does it take to get a Ph.D.?

When is the Application for Admission due?

The completed application should be received by February 15.  This would include a valid GMAT or GRE score reported from the Educational Testing Service, a valid set of transcripts from all previous educational institutions, an application form, $50 application fee, and letters of recommendation.

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Where and how can I obtain an application?

Please send an e-mail to Ms. Libby Crawley and ask for admission materials. You can download the application here. You can also reach her at

Ms. Libby Crawley
Director, Doctoral Program
PO Box 3989
Atlanta GA 30302-3989
404.651.3379

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Am I Eligible for Financial Aid?

All admitted students are eligible for financial aid and no separate application for aid is required.  After the student is admitted a separate college committee meets to award graduate research assistantships to potential students.  All students compete for a pool of funds and are awarded assistance based on merit.  The very best students in terms of GMAT or GRE score, previous GPA, and previous program of study can receive up to $16,000 per year for three years depending on funding availability.  Most students receive $6,000-16,000. Please note that the general RMI Departmental scholarships or financial aid is not available to PhD students so no additional financial aid can be provided by the department.

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What is the Typical Background of a Successful Applicant?

Our goal is to admit 2-4 students each year. We will have as a maximum 16 students overall. A successful applicant will generally have GMAT scores in the 700s for math and in the mid to high 600s for verbal, a significantly above average grade point average, and an interest in the insurance and risk management industry broadly defined.  Further, the applicant will have strong interest in pursuing a career in teaching and research.  Most accepted students have a masters degree in economics, statistics, or applied mathematics. However, a masters degree is not a requirement for admission.

To provide an example based solely on admission scores, here is a table reflecting the last five years. The GMAT V %-tile represents the GMAT (or GRE) verbal percentile score and the GMAT M %-tile represents the GMAT (or GRE) verbal score percentile.

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What Can I Study at GSU?

Our faculty is among the largest in the world when it comes to absolute numbers as well as breadth of expertise.  We can tailor a program to fit almost any need.   Our program requires all students to take courses in economics, finance, and econometrics, but students can specialize in any area of insurance or risk management from an economics, actuarial science, and finance perspective.  Currently, we have Ph.D. students researching in health insurance, social security design, the implications of developing insurance markets on a country's growth, understanding the financial and economic differences between stock and mutual insurance companies, and taxation of the insurance industry.  To get an idea about the breadth of possibilities for study at GSU, please see our faculty profiles for information about the interests of the faculty.

We offer fields of specialization in actuarial science, mathematical risk management, and the economics or risk.  A field would be selected sometime during the first year and would consist of multiple courses in the selected area.  These courses would be selected jointly by the student and the Ph.D. coordinator.

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Can I Study Part-time at GSU?

No.  Our program is a full time program and it admits students once each year.

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How Long Does it Take to Get a Ph.D?

This depends upon the background of the student.  While it is possible to finish in three to four years, our goal is to have students finish in four or five years.  Most students require just over four years finishing their degree. Please note that we will not be able to guarantee financial assistance after the fourth year.

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Are there Additional Admissions Requirements for Non U.S. Citizens?

Yes.  First, if you are not a native English speaker, you must take and receive a satisfactory score on the TOEFL.  The only exception to this rule is if you have already obtained a degree from a U.S. institution.  Second, you must be able to show sufficient financial support to obtain a student visa.  Please e-mail Ms. Libby Crawley for more information regarding the visa requirements and the TOEFL.

We do not have a quota for people from different countries as we strive for diversity in our student cohorts.

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last updated November 30, 2006.