BUSINESS MANAGEMENT
SCHOLARSHIPS & FINANCIAL AID Explore Funding Opportunities, Resources & Tips for an Affordable Degree

A business degree can lead to a future in administration, finance, accounting, marketing or several other corporate careers. However, the high costs of a college education can often stop prospective students from pursuing a business degree. Find financial aid and scholarship resources, alternative solutions to pay for college, and information that can help lead to a debt-free business degree.

Find & Research Business Management Scholarships

Prospective business students can search for scholarships based on a range of criteria, such as academic performance, career goals and research focus. Scholarships may be earmarked for tuition, projects, further research or other education-based expenses

The Business Scholarship Application: 8 Winning Tips

Once potential students have compiled a list of applicable scholarships, they must make sure their applications stand out. Here are a few tips on how to make applications shine:

  1. Focus on business experience and knowledge

    Try to include only experience relevant to a field involving business. Highlight specific business skills and knowledge gained from recent work employment or internships.

  2. List top academic and life achievements

    When writing a personal statement, make sure to explain the relationship between your personal and professional background and your future career goals. Do not use overly broad or cliché statements. Spend time explaining your skill set and how you wish to grow in your business pursuits.

  3. Detail relevant business and academic achievements

    Any business or academic honors should be highlighted in the scholarship application because they demonstrate dedication.

  4. Prioritize writing the essay

    Demonstrating concise and effective writing is just as important to an application essay as highlighting qualifications.

  5. Identify your audience before starting your essay

    Ask the following: Who will be reading the essay? What do they know about you? What are they interested in hearing about you?

  6. Spend extra time on the introduction

    Scholarship committees read a lot of essays, so something fresh and creative is more likely to grab their attention than the standard spiel. Draw readers in by telling them what the essay is about and why they should keep reading. Don’t forget, however, to show that you understand the essay question. You can do this by rephrasing it into your own words.

  7. Show, don’t tell

    Use descriptive and active word choices in the body of the essay.

  8. Re-read, revise…and then ask a friend to proofread

    Typographical errors and awkward phrasing in an essay can sink an application. Print it out and read through it again the next day with fresh eyes. Read it aloud. Go to your college resource center and have professionals edit it and make suggestions. Make sure there are absolutely no errors.

Think Outside the Box: Paying for a Business Degree

While scholarships can be very helpful in lifting the burdens of financial debt, there are other ways students can assist in funding their degree programs. Here are a few oft-overlooked ways to pay for a business degree:

Assess spending

There are many small choices potential students can make to build funds to apply to a graduate degree in business. One easy way to pay for a business degree is by creating a budget to separate necessary costs from unnecessary ones, which will help save money. Start by identifying key necessities and lifestyle needs. Then, calculate specific amounts to your budget and stick to it. Keep a specific record of daily, weekly and monthly transactions.

Start a college savings account

Put 10 percent of each paycheck into a savings account. Do not use that money for anything else.

Get work experience

Some colleges allow students to apply their work experience toward course credits, creating a lighter load of classes for students to take, and thus lowering the overall cost of the education. So research your options to find the best fit and the best savings.

Get company assistance

As a benefit to their employees, some companies offer tuition reimbursement or assistance programs for pursuing a college degree. By getting a degree through company funding, your job stability and pay can increase substantially. Some companies fully reimburse for tuition, books and fees, while others only pay a percentage. Check with the human resources department for details.

Use tax reductions

The government offers tax breaks to students pursuing a university education. These tax reductions allow students to subtract college-related expenses from the tax they owe.

Choose a shorter program

Certifications might be a money-saving way to quickly grow your knowledge base in preparation for a business career. There are many business programs that can be completed quicker than a degree, such as business analysis, Web applications and small business certifications. The requirements for pursuing these certifications range from having a bachelor’s degree to applying work experience to passing examinations.

Further Scholarship Resources for Business Students

There are many other business scholarship resources available to aspiring business students. Many organizations offer financial aid based upon specific guidelines, while others are much broader or allow students to tailor their scholarship search to fit their personal profiles. Below, find additional financial aid opportunities for funding the costs associated with a business degree:

ALPFA Scholarship Program

The Association of Latino Professionals in Finance and Accounting provides scholarships to Hispanic students pursuing degrees in accounting, finance or other business-related fields. Students must be U.S. citizens and have a 3.0 GPA.

American Business Women’s Association

ABWA gives scholarships to women who are pursuing a business degree. They provide financial assistance and create professional development programs to encourage women’s growth in business and future career pursuits.

Asian Women in Business

AWIB works to support Asian women to earn a degree in business. To apply for scholarships, applicants must be female, permanent residents of the U.S., and of Asian or Pacific Islander ancestry.

FAFSA

The federal government subsidizes college education through financial aid programs, handing out billions of dollars in grants and loans to students each year.

Marketing EDGE

Marketing EDGE provides scholarships to students pursuing the field of marketing, seeking to educate students and provide the resources for them to turn their education into a career.

Project Management Institute Educational Foundation

PMIEF gives specialized scholarships to students pursuing a degree in project management or a related field. Scholarships, grants and other awards are available to undergraduate and graduate students as well as to those interested in professional development.

For more tips and resources for pursuing a business degree, visit our College Learning and Resource Center.

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