Scholarships

So you’ve done well in high school or can demonstrate other types of merit, and you’re hoping to find some help paying for business school. You’ve already applied for federal and state aid. Now it’s time to look for scholarship opportunities.

Like a grant, a scholarship is also a monetary gift. Scholarships are awarded for various reasons, which may include academic performance, talent, ethnicity, or other factors.
Scholarships are offered by schools, private individuals or organizations, corporations, and other entities. Usually you must apply for each scholarship you want individually. The amount of a scholarship can range from a few hundred dollars to complete coverage of your tuition and living costs.

Getting a Scholarship
Thousands of scholarship opportunities are available to help you through business school. Some may be available only in your local area. Check with the local high schools, colleges, and universities. Also, check with professional organizations, charitable foundations, local businesses, and civic groups. Many of these organizations do not advertise their scholarships online, so you’ll have to make a few phone calls.

Make sure that you start searching early. It’s best to look at least a year in advance. Then, if you are close on a few requirements but not quite there, you will have the opportunity to increase your qualifications. Don’t turn in your application at the last minute, because that’s when the deciding committees will be overwhelmed with applications.

With a little work, you’ll find plenty of scholarships that you may qualify for in the field of business. It’s your job to stand out from the crowd and show the decision makers that you’re worth their investment. Learning how to do this is a skill that will help you throughout your business career.

You can learn about the scholarships available at your business school by visiting the school’s counseling office or website, or you can use an online scholarship database like www.scholarships.com. You may find that in addition to business-specific scholarships, you are eligible for a variety of other scholarships.

Here are some of the scholarships that are available to students specifically studying business.

National Business Association Scholarship Program
The National Business Association (NBA) Scholarship Program provides five $1,500 scholarships each year to business students who have average to above-average standardized test scores and grades. To be eligible, you must be the dependent son or daughter of a dues-paying member of the NBA.

If you fit into this category, your test scores must be in the top two-thirds of your graduating class. Also, you need to have an ACT score between 18 and 26 or an SAT combined score that falls between 850 and 1190. If you’re already enrolled in college, you need to be maintaining a 2.5 – 3.5 GPA on a 4.0 scale.

To learn more about the NBA scholarship, you can visit http://www.nationalbusiness.org/nbaweb/Member_Benefits/E310.htm .

Lagrant Foundation Scholarship Program
Undergraduate and graduate business school students may be eligible for one of 15 scholarships that are provided annually by The Lagrant Foundation (TLF). The maximum award you can receive is $5,000.

If you are pursuing an undergraduate business school degree and want to apply for a TLF scholarship, you must meet the following criteria:

  • Be a U.S. citizen and African-American, Asian-Pacific American, Hispanic, or Native American
  • Be a full-time student at a four-year accredited college, university, or business school (carry a minimum of 12 units per semester or quarter)
  • Maintain at least a 2.75 GPA on a 4.0 scale
  • Major in a business field that emphasizes public relations, advertising, or marketing OR minor in communications with the plan to seek a career in one of these three fields

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