Business School Scholarships
A business degree can enhance your knowledge and increase the number of opportunities that are available to you. It boosts your earning potential and allows you to network with those who can help you launch your career after you graduate. However, furthering your education is an investment.
The average cost of going to college rises every year, but median household incomes have remained about the same for the past two decades, according to U.S. News. Attending an undergraduate or graduate business program can put you out approximately $10,000 a year at a public institution and at least $35,000 a year at a private university.
A scholarship can mediate your tuition costs. Contrary to popular belief, scholarships and monetary awards are not only offered to students who graduate in the top of their high school class or qualify for financial assistance. Many are available to students who are striving to earn a business degree.
What Is the ROI of a Business Degree?
If you are considering studying business, you’re setting yourself up for a lucrative future. Investing in a college degree is a wise financial move. Research shows that business majors typically get an above-average return on their investment.
A business degree can give you a well-rounded knowledge base that helps you narrow down your area of interest. If you’re pursuing a bachelor s degree in business, you will have access to a wide range of courses. Some may be interdisciplinary, while others are highly specialized. Students in this field can focus their learning on just about any business category, making them versatile candidates when it’s time to enter the workforce.
Chron reports that most business majors, whether they attend classes in person or earn an online business degree, can realistically expect to receive a yearly salary of between $40,000 and $85,000. Even for underemployed business majors, the return on investment is approximately 14 percent.
Still, shelling out tuition fees on top of housing and other expenses can make for a tight financial situation while students are in school. Scholarship can mediate those expenditures, allowing you to take advantage of the best educational opportunities that will advance your career when you graduate.
Who Offers Scholarships for Business Majors?
Many students look for scholarships that are awarded by their prospective schools to help them afford their education. However, business students are abundant at most universities. Many people who aren’t sure what career path they want to take end up graduating with a bachelor s degree in business. Because of this, full-tuition business scholarships are competitive, and many schools simply don’t offer many of them.
Large corporations recognize the value of supporting business majors, though. Many companies sponsor scholarships for high school students as well as business school applicants. Some have separate foundations that have been established to distribute grants and endowments to promising students. This helps them generate a pool of highly qualified job applicants who may end up working for them.
Community groups may also offer financial awards to students that meet certain criteria. These include:
- Civic groups
- Professional associations
- Government agencies
- Nonprofit agencies
Are You Eligible for a Business Scholarship?
Your eligibility for a business school scholarship depends on the criteria designated by the managers of the fund. Every opportunity is different, and many students are surprised to find out that they are eligible based on demographic factors, community service, extracurricular activities and work and life experience.
There are a wide variety of scholarships available for the following demographics:
- Business majors
Volunteering can enhance your standing. Donating your time to your local community sets you apart from many other candidates and shows that you’re committed to helping those around you. You might consider volunteering for groups that give out scholarships to show that you’re a valid contender.
Community service can deliver valuable experience that you can use to flesh out your scholarship essays. It can also give you a chance to make connections with professionals who can serve as references when you apply for financial awards.
Special scholarship funds have also been established for students with certain medical conditions. Health problems can impact students’ financial situations, making it more challenging for them to set aside funds to further their education. However, their ambitions should not be limited by their illness.
If you have been impacted by a disease such as cancer, multiple sclerosis, diabetes or epilepsy, you might want to look into subsidies that are in place for people like you. Individuals with visual or auditory impairments may also qualify for certain scholarships.
Don’t discount your eligibility to receive funds to support a business degree just because you’re not planning to attend school full time. Some scholarships are intended for students who take classes part-time or are earning an online business degree.
In many cases, students who are committed to graduating with a business degree have already gained the experience that’s necessary to make them eligible for a particular scholarship. Researching all of the possibilities can help you come up with a list of scholarships for which you may qualify.
How to Apply for a Business Degree Scholarship
Many scholarship programs make it easy for students to apply online. Others require paper applications to be submitted through your high school or undergraduate university.
Pay attention to the instructions issued by each sponsor. The deadlines, awards and application procedures are unique to each scholarship. Some require you to write an essay, while others simply ask you to submit proof of eligibility.
It’s important to explore your options early. You may be required to take courses related to a certain industry or participate in activities that help you qualify for the financial award. Understanding these requirements ahead of time will give you the chance to complete them before the application period.
To take full advantage of the financial assistance that’s available to you, work with a college or financial aid counselor. You should also look into the various scholarship programs that are available online.
Click on the featured scholarships in the list below to find out more about each one and learn how to apply.
Search Business Schools by State
- Select One
- New Hampshire
- New Jersey
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia