If you're getting a degree in business, you have some options for funding your degree that aren't available to anyone else - scholarships for business students. These scholarships vary depend on the degree you're going for; there are many more for MBA programs than for Bachelor degree programs, but don't let that dissuade you from looking around. Many schools have their own scholarships tailored just for their students.
Undergraduate and Graduate Business Degrees
Undergraduate degrees is business vary depending on the school you are attending, but most will be a Bachelor of Science degree. The subject may be considered management, business administration, or any variation thereof. Most of the scholarships listed below are available to students pursuing management or business degrees, but check the information they provide to make sure your degree plan is covered.
The most common business degree you'll hear about is the MBA. This is a graduate degree, available to students who have already completed their Bachelor's degree. The MBA is a Master's in Business Administration. It is generally considered a terminal degree - while there are some PhDs in business, they are not as common as other PhD degrees, such as computer science.
Scholarships for Business Students from Organizations
There are two nationwide organization offering scholarships for business students. Their scholarships are available to both undergraduate and graduate students.
- Golden Key is a world-wide academic honor society that begin in the United States in 1977. It has more than 270 chapters across the US. Golden Key awards over $400,000 annually through 17 different scholarship and awards programs. Nine of the programs are only available to Golden Key members.
- Government Finance Officers Association is a professional association of those involved with state, province, and local finance officers in both the United States and Canada. It began in 1906 and currently has over 16,500 members. They offer 5 scholarships, two of which are for graduate students only.
- Local Chamber of Commerce Organizations. Don't forget to check your local Chamber of Commerce. Many offer scholarships, especially to business students. If you don't know how to find yours, check ChamberOfCommerce.com, which allows you to search for organizations in your area.
Business Scholarships for Women and Minorities
There are several organizations that offer scholarships for minority and women business students only.
- The National Black MBA Association (NBMBAA) was founded in 1970. It works in partnership with over 400 of the country's top business organizations with the goal of building a "solid pipeline of support" for members to guide them from the classroom to the boardroom. NBMBAA offers scholarships totaling over half a million dollars every year. These include a PhD Fellowship Program, an MBA Scholarship Program, and an Undergraduate Scholarship Program.
- The Association of Hispanic Professionals began in 1988 and now serves 29 chapters and over 6,000 members. Known as the "Premier Hispanic Organization," its goal is to prepare Hispanic members for leadership positions. To do so, they offer over a million dollars a year to Hispanic students who are pursing MBA degrees.
- The Consortium for Graduate Study in Management was established in 1966 to help African American men get ready for management positions. In 1970, they evolved to include women. In the forty years since, it has enlarged its goals, and now it offers full merit-based fellowships for MBA students who are African American, Hispanic American, and Native American.
- The Forte Foundation is a newer organization, active since 2001. Their mission is to increase the number of women in business, and to meet their goal, they offer scholarships to women who are pursuing full-time MBAs at participating business schools.
Scholarships from Schools
Sometimes the best place to find a scholarship is the school you're interested in attending. Check with the financial aid office to find out what your school can do for you.