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Austin Lourake, Class of 2025, is an honor student and double majoring in mathematics and economics. Lourake's passion for math began in the fifth grade, when he discovered his natural aptitude for the subject. When he first arrived at ��ɫ����Ƶ State, advisors pointed out the significant overlap between math and economics, convincing him to pursue both majors, with only a few additional courses required. “It was an opportunity to try both and learn new disciplines,” he said.

Originally, Lourake had only planned to attend the University for a few years, but changed course after experiencing the strong sense of community cultivated by both his professors and fellow students. Coming from a small high school with just 85 graduates, Lourake appreciated the smaller class sizes at ��ɫ����Ƶ State. “I would’ve been too overwhelmed to attend 400-person lectures,” he noted. “I like how I can go into the classroom with questions when I’m stuck on something, since we’re exposed to a lot of hard material. Having those questions answered is a privilege.”

Lourake is now pursuing actuarial science, a branch of mathematics that blends calculus and statistical methods to assess risk in finance and insurance. His work focuses on risk assessment, financial modeling, insurance pricing, and pension planning, which are all skills he hopes to use to help people balance their retirement money, as these processes are not necessarily taught to them.

Lourake has already accepted a full-time position at Empower in Hartford, Connecticut, after completing a highly competitive internship with them over the summer. During his internship, he worked on defined benefit pension plans, calculating liabilities, and forecasting future financial needs. 

One of the favorite things about his internship was witnessing the relational aspect of the job, since actuaries help to facilitate significant retirement plans on both a financial and personal level. “If you think about simple companies, they’re just looking for us to manage their pension plans,” Lourake said. “But in order for us to manage their plans and for them to know what's happening, there's some sort of connection that has to happen. I really like that ability to explain to someone what’s happening to someone who doesn't necessarily know what's going on. That way, they don’t have to know the inner workings of the hard math.”

To become fully certified, actuaries must pass between seven and ten rigorous exams, depending on their chosen designation. Lourake, who has already passed two, is studying for his third exam, which he hopes to complete by the end of the year. “For my second exam, I did about 500 practice questions, each taking 5-10 minutes,” he said. 

Coaching Actuaries, a company which helps students prepare for exams, helps to equip students with resources such as manuals, videos, and around 1,000 practice problems, along with variations of tests for prep work. “The program includes about 120 hours of studying for this exam,” he added. “I began studying at the end of August, and still have about 25 hours left. I want to get these exams done as soon as possible, so I can be stress-free later down the road. I’m a detail-oriented person, so you have to be willing to put aside time every day to not only do the exams but focus for 5-6 years on studying for them. It’s what I want to do.”

Looking ahead, Lourake encourages prospective students to consider ��ɫ����Ƶ State for its high-quality education and supportive environment. “The professors and the environment they create make the experience,” he said. “With the small class sizes and the care and attention they give to students, I don’t think anything can beat that.”