The business field extends to most careers and is an integral part of nearly every industry. Businesses of all types and sizes across the globe need accountants, financial analysts, entrepreneurs, market analysts, and other business-related occupations for their day-to-day operations. It’s easy to see why there is a rising demand for business-related degrees and skills!
According to the Bureau of Labor and Statistics, employment of business major graduates will rise at 7% in the next ten years bringing in 591,800 new jobs and demonstrating faster growth than the average for all other occupations.
If you are thinking of getting a business degree, consider your goals and budget. A business major offers a broad range of areas of study you can choose. You have to know your goals so you don’t get lost in this vast field! You also need to manage your budget well because the cost of college attendance has risen eight times faster than wages. The tuition cost of business education depends on your chosen type of degree (certificate, associate, bachelor’s, master’s and doctorate).
Due to Business being one of the most popular career fields, business degrees can be quite expensive. The College Board reports that the average tuition for Business colleges is $10,230 per year for state residents and $26,290 per year for all the rest. The average tuition for non-profit private colleges sits at $35,830 per year. Additionally, on-campus students (and their parents) are constantly urged to allocate resources for housing, a meal plan, transportation, and other expenses.
In 2016-2017, 85% of full-time undergraduate students at four-year institutions in the U.S. received some form of financial aid. Financial assistance like student loans and scholarships can help cover the cost of college. This is all possible through the Free Application for Federal Student Aid (FAFSA). Besides the traditional federal and state aid, and tuition grants, students can apply for scholarship programs. Grants and loans must be repaid, while scholarships do not have to be repaid. Before you start taking loans, it’s best to search and apply for free scholarships.
Contrary to popular opinion, scholarships are not only offered to students with the highest GPA or the best athletes in school. There are various scholarships for every type of business student. Business schools have some of the best scholarships in the nation. The trick is to determine the type of scholarships available that are right for you.
Eligibility for major business scholarships varies depending on the requirements set. You may find out some scholarships base student’s eligibility on demographic factors, community service, certain medical conditions, other unique talents, and extracurricular activities. But with a myriad of scholarship opportunities (from large companies to private sectors), you need to trim down the long list.
Here are ten scholarships for business majors to help you get started:
ALPFA (Association of Latino Professionals for America) was established in 1972 and deemed as the first national Latino professional association in the country. Today, ALPFA serves nearly 100,000 Latino men and women through 45 professional and over 160 university chapters. Its scholarship program provides a total of $150,000 each year. Besides participating in leadership development programs and summer internships in Fortune 100 companies, members of this organization are encouraged to engage in local charities.
- Applicant must be of Hispanic heritage, a U.S citizen, a legal resident
- Full-time enrollment at an accredited university or college in the U.S., Puerto Rico, U.S. Virgin Islands or Guam (Fall Term)
- Must have declared one of these majors: Accounting, Business Administration, Economics, Finance, Information Systems, Information Technology, Management, Marketing, and other Business-related fields
- GPA of 3.0 or higher
Award Amount: $1,250 to $10,000
1717 W 6th Street, Suite 410
Austin, Texas 78703
Phone: 1. 855.MYALPFA ex 704
The Dell Scholars Program was formed by the Michael & Susan Dell Foundation to support underprivileged students seeking a college degree. Junior, as well as senior high school students, are required to participate in its “College Readiness Program” to help prepare them for comprehensive college coursework and workshops. In addition to its financial award, the foundation provides a laptop (with a four-year warranty), Chegg credits for tutoring, textbook support, purchases and rentals, and a personalized support network consisting of peer mentors, students, and Dell Scholars staff. The resource network helps students cope with stress, debt, and other life circumstances in their college journey. Each year, this scholarship program allows 300 recipients to pursue college without having to worry about the cost.
- Applicant must be a U.S citizen
- Participating in Dell Scholars approved College Readiness Program
- Graduating from an accredited high school
- Qualified for a Federal Pell Grant in the first year of college
- Intend to enroll as a full-time student at an accredited university in the fall term (directly after high school graduation)
- Pursuing one of the following areas: Accounting, Business Administration, Economics, Finance, Information Systems, Information Technology, Management, Marketing, and other Business-related fields
- A minimum of 2.4 GPA
- A demonstrated need for financial assistance
Award Amount: $20,000
Application Deadline: December 1, 2019
Michael & Susan Dell Foundation
PO Box 163867
Austin, TX 78716
LULAC National Educational Service Centers, Inc. (LNESC) is a non-profit organization founded in 1973. Its purpose was to help students in underprivileged circumstances. The organization is a unit of the League of United Latin American Citizens (LULAC), the oldest Hispanic civil rights organization in the nation. LULAC National Education Service Centers (LNESC), a 501 (c)(3) national non-profit organization, has partnered with the General Electric Foundation to award more than $26 million in scholarships to 565,000 students. to help existing minority students fund their college education. The funds will be allocated for tuition and fees, and academic books and materials. Recipients of the scholarship may renew up to three years, depending on their academic performance.
- Applicant must be a U.S citizen or a legal resident
- Must be enrolled as a college sophomore during the fall term
- Pursuing either business or engineering related major
- A minimum of 3.25 GPA
- A demonstrated need for financial assistance
- Three letters of reference and a recommendation from a college professor
- A personal essay of not more than 300 words
Award Amount: $5,000
1133 19th Street NW
Suite 1000, Washington, DC 20036
Phone: 202 835-9646
Mark Beaumont Scholarship Fund was created in honor of the late COO of Capcom North America and Europe, Mark Beaumont. This scholarship is sponsored by the Academy of Interactive Arts & Sciences, a non-profit organization built to support interactive arts professionals. The Mark Beaumont Scholarship is perfect for students aspiring for careers in executive leadership, law, marketing, public relations, and business development.
- Full-time undergraduate enrollment at an accredited college or university
- Pursuing any major to join the video game industry emphasizing on the business of interactive entertainment
- A minimum of 3.3 GPA
- Verification of enrollment for the academic year
- Two letters of reference from a college professor
- Personal essay (2 pages)
- Official college transcript
Award Amount: $2,500
Academy of Interactive Arts & Sciences
c/o Mark Beaumont Scholarship Fund
11175 Santa Monica Blvd. Suite 440
Los Angeles, CA 90025
Mary Elizabeth Lockwood Beneventi MBA Scholarship is among nine specific scholarship programs awarded by the National Society Daughters of the American Revolution (DAR). DAR is a non-profit women service organization built in 1890 committed to serving America’s youth through better education. Its MBA scholarship helps outstanding underserved students regardless of race or national origin. It is not automatically renewable, as students may have to reapply depending on considerations.
- Should be a US citizen or a legal resident
- Must be enrolled as a full-time graduate student at an accredited college or university
- A minimum of 3.25 GPA
- Completed DAR Scholarship Committee’s online scholarship application
- Personal statement essay of 1,000 words or less
- Two letters of recommendation
- Demonstrated financial need
Award Amount: $2,000
Application Deadline: February 15, 2020, at midnight (Eastern Standard Time)
Renewable: Not automatically renewable
National Society Daughters of the American Revolution
Committee Services Office
1776 D Street, NW
Washington, DC 20006-5303
Phone: (202) 628-1776
Ford Motor Company Tribal Scholarship is funded by one of the largest scholarship providers of American Indian students, the American Indian College Fund. The 30-year old organization has partnered with Ford Motor Company in supporting 35 tribal colleges and universities in the country. American Indian College Fund is the leading provider of higher education scholarships providing tools and other support services to Native American students.
- Should be a US citizen or legal resident
- Must be enrolled in a certificate, associate, bachelor’s, or graduate program at an accredited tribal, public, or private (non-profit) college or university
- Earning a Math, Science, Engineering, Business, Teacher Training, or Environmental Science degree in a tribal college
- Pursuing a degree in fields of accounting, computer science, engineering, finance, marketing, or operations management in a public/ private college or university
- A minimum of 2.0 GPA
- Proof of Indian ancestry or membership of a federal or a state-recognized tribe
- Most recent college transcript
Award Amount: $3,000
8333 Greenwood Blvd.
Denver, CO 80221
Phone: 303-426-8900 / 800-776-FUND
Established in 1992, Ritchie-Jennings Memorial Scholarship Program is sponsored by the Association of Certified Fraud Examiners. It was created in honor of two Certified Fraud Examiners -Tracy Ritchie and Larry Jennings, who died in a terrorist attack in 1997. ACFCE Foundation strives to help underserved students fund education, and many of its recipients follow the anti-fraud career path. In addition to the scholarship money, Ritchie-Jennings Memorial Scholars also receive a one-year ACFE Student Associate membership.
- Full-time (four-year) student at an accredited college or university
- Undergraduate students must be enrolled in 9 semester hours per term
- Graduate students must be enrolled in 6 semester hours per term
- Pursuing a college degree with a major or minor in accounting, business administration, finance or criminal justice with a desire to pursue a career in fraud examination or an anti-fraud profession
- Unofficial college transcript
- Two letters of recommendation
Award Amounts: $10,000, $5,000, $2,500, and $1,000
Application Deadline: January 30, 2020
Attn: Scholarship Program Coordinator
Global Headquarters – The Gregor Building
716 West Avenue
Austin, TX 78701 USA
Phone: +1 (512) 478-9000
The Graydon and Myrth Fox Scholarship is administered by Sacramento’s leading provider of philanthropic service, Sacramento Region Community Foundation. The foundation was built in 1983 to deliver charitable community service and one of which is providing financial support to individuals seeking a college degree. The Graydon and Myrth Scholarship was created for Veterans and their family members, especially those who were killed or wounded in combat situations.
- Applicant must be a Veteran in the United States Armed Forces, or a surviving spouse, a dependent child or grandchild of personnel killed or injured while on active duty or military training exercise
- Enrollment in an accredited trade school, college or university
- Proof of relationship to Veteran
- Personal statement essay
- DD Form 1300 and DD 214 or proof of military service
- One letter of recommendation
Award Amount: $1,000 to $5,000
955 University Avenue
Suite A, Sacramento, CA 95825
Phone: (916) 921-7723
Executive Women International Scholarship is established by a women’s organization, Executive Women International. The organization was founded in 1938 in San Francisco, California. In the same year, cities across the United States and Canada have built chapters to join the organization. EWI provides leadership training, community projects and scholarships even for the benefit of non-traditional students with economic difficulties.
- Applicant must be a US citizen
- Must be a high school student pursuing a full-time undergraduate degree at an accredited college or university for at least nine credit hours per semester
- A resident of the EWISP chapter
- Demonstrate leadership qualities and good citizenship
Award Amount: Maximum of $10,000
Application Deadline: March 27, 2020, 5:00 CT
1288 Summit Ave.
Ste. 107 PMB 124
Oconomowoc, WI 53066
The Scarlett Family Foundation Scholarships were founded by the Scarlett Family Foundation. The foundation has awarded more than $11 million for over 550 students since 2005. In 2015, it extended its scholarship program to students enrolled in STEM majors. Scarlett Family Foundation has collaborated with International Scholarship Tuition Services, Inc. (ISTS) to help manage its scholarship programs and assist students from application to the fulfillment of the scholarship.
- A graduating senior high school from Middle Tennessee counties; ora college freshman, sophomore, or junior enrolled full time (Fall Term)
- Must be enrolled/ plan to enroll at an accredited college or university and pursue a Business or STEM major
- GPA of 2.5 or higher
- Demonstrate financial need (via 1040 tax return)
Award Amount: $2,500 to $15,000 per academic year
4117 Hillsboro Pike
Suite 103255, Nashville, TN 37215-2728