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A finance major studies accounting, the economy, statistics, and math. These areas support the financial management skills that drive company and client profits. Once you graduate, a bachelor’s degree in finance may pave the way for a range of high growth careers. You could find many finance scholarships in order to help pay for your finance degree.
A college scholarship award is a sum of money that helps pay down the costs of a degree without asking you to pay it back. Award amounts may also help pay your tuition and fees, room and board. These may be renewable for the length of your degree program.
Business majors who also plan to study finance could look for these awards at schools with a college of business. Also check GFOA or the Government Finance Officers Association. They provide financial assistance with several annual programs . Nonprofits and private companies rely on smart financial planning and may be a great resource for financial aid too.
Look for finance major scholarships that you may qualify for. Double check eligibility requirements and submit your scholarship application before the deadline. It might be worth earning these awards than borrowing student loans.
Finance and business administration college students may qualify for various scholarships. Besides your finance major, these awards may go to college students with unmet financial need or merit. Other criteria also include minimum GPA, your finance degree program, or member of a professional association.
They may also ask about your academic achievement, community service and extracurricular activities. You may need to study a certain major such as risk management, insurance, public finance, or actuarial science. You also typically need to be either a full time student or enrolled part time.
Whether you are planning to attend community college or start a four year college degree, there are scholarships to apply for in your senior year of high school. Show off your financial skills by applying to the U.S. Bank Student Scholarship. You may complete short online lessons such as how to manage student loans and create a budget. All for a chance to win up to $20,000.
Various fellowships and finance scholarships exist for finance graduate students. The AICPA Fellowship for Minority Doctoral Students is one award. It is for aspiring CPAs who are also a minority student and enrolled (or plan to enroll) in a doctoral accounting program.
There are awards for minority students studying finance. One award for Native American students is the American Indian Education Fund. You need a 2.0 GPA to apply for scholarships of up to $2,000. For Hispanic students, check out the Hispanic Heritage Youth Awards. These are for high school seniors who excel in business and finance.
For African American students, make sure to check the offerings of the United Negro College Fund. UNCF partners with HBCUs and one of their programs is the Smartwool Scholarship. It will provide 10 need based awards to college students majoring in finance from North Carolina and Tennessee.
Scholarship funds are also set aside for women in finance. One award is called the Foundation of AFWA Master’s Scholarship. To qualify, you need a minimum GPA of 3.0. Acceptable majors are accounting and finance. AFWA also offers an undergraduate award for female students with at least 60 credits of college complete. It also requires a 3.0 GPA. You must be a full time undergraduate student.
Several global investment banking firms offer finance scholarships. Goldman Sachs offers a MBA Fellowship. It is for graduate students and worth $35,000 plus a sign on bonus if applicable. There are also finance scholarships for specific states and if you are pursuing a banking related field. One resource for Missouri students is from the Missouri Bankers Association. The MBA InternConnect Scholarship is an annual award of $1,000. Applicants must reside in Missouri or attend an accredited Missouri college.
Scholarships for finance could be competitive so set yourself up for success with these helpful tips.
1. Clean up your online profiles.
Many careers in finance rely on ethics and trust. Some colleges and other providers check social media feeds when assessing applicants.
2. Research awards based on your finance major, interests and goals.
Many professional groups offer annual scholarships in finance. Save the dates for each award you’re planning to apply to. Meanwhile do some research so you could show the sponsor organization how your goals match theirs.
3. Don’t miss a deadline.
Stay organized and create a timeline of your applications. You may want to schedule time to also file the FAFSA and get your application materials together.
4. Provide all the necessary information and documents
An application often lists specifics. Essay word count, file type (PDF, Word Doc, etc.). Stick to the format so as not to be disqualified.
5. Be yourself and tell your story.
If you have to write an essay, be authentic as well as professional. Think of it as a written job interview where you put your best foot forward in a way the reader could get to know you and why you deserve a scholarship.
6. Proofread everything.
Before you click on submit, check spelling and use of words such as “there” vs “their”. Enlist help from a teacher, mentor, coach or trusted to double check your essay and application.
7. Make copies of your essay and application but don’t cut, copy, and paste.
You should tailor your answers to each scholarship application instead of using the same essay twice. But, keeping copies of your application is smart “just in case” it gets lost in the mail.
Check out our list of 39 finance scholarships worth $12K.
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