The Brave Enjoy First | Bachelor’s Program in Financial Engineering and Actuarial Science, Wei Hsiao-Chin

In high school, I excelled in mathematics, and since becoming an actuary is a highly challenging profession, I wanted to prove my abilities and challenge myself. Therefore, actuarial science has always been one of the fields I most wanted to study. When it came time to choose a university, I followed my interests and enrolled in the Bachelor’s Program in Financial Engineering and Actuarial Science at Feng Chia University.

Laying the Groundwork for Studying Abroad from Freshman Year

In my freshman year, I began researching information about exchange programs through the Office of International Affairs and attended various seminars they organized. By the end of the first semester of my sophomore year, I submitted my application and started handling the application materials and visa issues for the sister school in the following semester.

My top choice for studying abroad was Temple University in the United States, mainly because it is one of the few schools with a tuition waiver exchange program and offers actuarial science courses. I wanted to experience studying abroad and continue taking actuarial courses at a different school. Additionally, since the actuarial exams I planned to take are administered by the Society of Actuaries (SOA) in North America, the United States was always my preferred country for exchange. I was fortunate to be accepted by my first choice and successfully went to Temple University for my exchange program.

During the application process, the Office of International Affairs provided several scholarship opportunities. I received two scholarships: the Study Abroad Scholarship and the President Chang Pao-Lung Memorial Scholarship, totaling around 300,000 NTD. These scholarships significantly reduced my financial burden, as living expenses in the United States are very high, and exchange students often travel to different cities during long holidays.

Temple University held a farewell party for exchange students.

A graduation certificate represents my courage and effort. I am grateful for my resolute decision, which I will never regret.

Studying Actuarial Courses in the U.S. and Passing Two Actuarial Exams

I originally planned to take Long-Term Actuarial Modeling and Short-Term Actuarial Modeling courses in my junior year at Feng Chia University. Before going abroad, I checked Temple University's course offerings and found that they offered these two courses with the same syllabus as Feng Chia. Therefore, I chose to take these actuarial courses at Temple.

During the courses, I discovered that the teaching pace at American universities is much faster. The content covered in two semesters (six credits) at Feng Chia was completed in one semester (three credits) at Temple. Since American universities emphasize pre-study and review, I had to review the course content for 4-5 hours daily. For Long-Term Actuarial Modeling, we had to learn the content through pre-recorded lectures and submit pre-study assignments before each class. During class, we discussed practice problems with classmates to enhance our understanding and completed assignments after class.

In the Short-Term Actuarial Modeling course, we did a final report that I found to be the most practical actuarial report. We analyzed expected losses and reserves for insurance companies and identified unreasonable data in the dataset, closely mirroring real-life situations. We then presented our analysis report and explanations to the professor.

Additionally, Temple University is a CAE (Center of Actuarial Excellence) university recognized by the SOA. Through the Long-Term Actuarial Modeling and Short-Term Actuarial Modeling courses, I successfully passed two actuarial exams. The process was challenging, as the overall grade had to be above 85%, with the final exam accounting for 50% of the total grade, and the final exam papers had to be sent to the SOA for validation. The joy of passing made all the hard work worthwhile.

I also retook the Actuarial Probability course, even though I had already taken it at Feng Chia, to prepare for the third actuarial exam. This course boosted my confidence for the upcoming exam and allowed me to review all the exam content.

The Introduction to Actuarial Spreadsheets and Programming course taught me that the most frequently used software in actuarial companies is not Python or RStudio but Excel. In this course, I learned to use various formulas to calculate and analyze expected losses and risks and did a final report on target index analysis.

Safety and Racial Discrimination Concerns

Before going abroad, I was most worried about safety and racial discrimination. Temple University is located in North Philadelphia, near one of the most unsafe areas in the city. Although I often received safety alert emails from the school and heard sirens frequently, I noticed that the school put a lot of effort into protecting students. They issued safety alerts to all students' emails, constantly updated information, and provided night-time shuttle services and security escorts for students attending evening classes, participating in activities, or staying in the library.

I felt relatively safe during the first semester in Philadelphia. However, one day in the second semester, I was suddenly attacked by an African American woman on the street, which left a shadow on my perception of safety in Philadelphia. After discussing with friends, I found that similar incidents had happened to them before, mainly due to racial discrimination against Asians. This incident shocked me greatly, as I never expected to be attacked publicly on the street due to discrimination. Fortunately, I was not injured and managed to escape.

Balancing Studies and Enjoyment

Boston was my first trip at the end of the first semester. I was very excited, and Boston left the best impression on me among all the cities I visited. It is prosperous without the tension of a big city, and the living environment is very clean, making it a desirable place to live. I wondered if Harvard University and MIT chose to establish themselves in Boston because the environment is conducive to student learning or if these schools made the city so safe and pleasant.

New York, the closest city to me, was also the city I visited most frequently. Although New York is bustling, with Wall Street, Times Square, Central Park, Grand Central Terminal, and the Statue of Liberty, the living environment is chaotic. The unpleasant smells, ubiquitous garbage, and homeless people showed me the stark contrast and the duality of excessive freedom.

During my spare time and holidays, I visited New York, Boston, Chicago, and Orlando. Each trip left different beautiful memories of my exchange life.

For Thanksgiving, I visited Chicago. Thanksgiving felt like a mini Chinese New Year, with many stores closed for the holiday. I visited the famous Chicago Theatre, ate deep-dish pizza, and went to Navy Pier but missed seeing the "Cloud Gate" (The Bean) due to renovations. I returned to Chicago in the second semester to fulfill my wish of seeing The Bean, only to find it still under construction. Despite the disappointment, I enjoyed the trip and even took graduation photos in front of the Trump Tower with my exchange student certificate, marking the perfect end to my exchange experience.

Orlando's Disney World gave me a dreamy Christmas. Spending Christmas at Disney World was a scenario I never imagined. During Christmas, all activities and performances were themed around the holiday, showcasing Disney's dedication to major holidays. The only incongruity was wearing short sleeves and skirts at Disney World during Christmas, as I was used to spending Christmas in long sleeves and pants in the cold winter.

Studying and living in the U.S. for nearly a year, I am glad I stepped out of my comfort zone and went to study in the U.S. alone. I am grateful for the support of my parents and teachers and gradually understand the meaning of the phrase "the brave enjoy first."

Gaining Independence

Although I was initially shocked by the different teaching methods and American culture, these differences expanded my worldview and enhanced my abilities. In the U.S., I tried to see a different side of myself, socialized with strangers, and traveled alone. I could never have imagined being without familiar friends, family, and environment before. This was my first time traveling so far, living alone for an extended period, and experiencing true independence.

During my time in the U.S., I found that the country is suitable for further studies and goal-oriented living, as it leads in many fields, with financial centers like Wall Street, tech hubs like Silicon Valley, the renowned SOA, and many prestigious universities. However, Taiwan is more suitable for pursuing a high quality of life, with its comprehensive healthcare system, delicious food, affordable living costs, and warm hospitality.

Finally, I am thankful for my resolute decision, which I will never regret.

Studying and living in the U.S. for nearly a year, I am glad I stepped out of my comfort zone and went to study in the U.S. alone. I am grateful for the support of my parents and teachers and gradually understand the meaning of the phrase "the brave enjoy first."