By far, business schools tend to attract the most students. This is simply due to the fact that there are more opportunities for those majoring in business and the wages are typically higher than other professions. If a degree in business studies appeals to you, there are numerous ways that you can get a scholarship.
In this article we will discuss 10 different types of business scholarships that you can apply for. We will also provide information for what the requirements are. So whether you are just starting your research or you have already begun the application process, this blog post is for you!
Several Benefits of Enrolling in a Business School
- Studying business has been among the most popular majors among college students in the US for over a decade.
- There are many different career paths that a business major can take, including entrepreneurship, finance, marketing, management, and operations.
- Business scholarships are one of the best ways to minimize your financial burden as you earn your degree.
There are many other great reasons to study business in college. For one, a degree in business often leads to increased job security. In difficult economic times, businesses need people who can help them run more efficiently and save money. Studying business in college gives you the skills you need to be that person.
A degree in business also often leads to higher salaries. As a business professional, you will have the skills and knowledge that employers value and are willing to pay for. And finally, a degree in business opens up a wide range of career options. Almost every industry needs people with strong business skills or that come from a particular business curriculum focus area.
Types of Business Scholarships Available
Now that we have explored some of the many benefits of studying business in college, let’s take a look at some of the different types of scholarships available to students pursuing a degree in business.
List types of business scholarships with explanations:
- General business scholarships. This is a scholarship that can be used for any type of business degree program. There are many different organizations and companies that offer these types of scholarships.
- Specific business scholarship. This is a scholarship that is offered by a specific company or organization for students who are interested in pursuing a career in that particular area of business. For example, there may be scholarships available for students interested in pursing a career in marketing from a specific company.
- Academic merit-based business scholarship. This type of scholarship is awarded to students based on their academic achievement, usually in the form of a GPA.
- Need-based business scholarship. This type of scholarship is awarded to students based on their financial need.
- Minority business scholarship. This type of scholarship is awarded to underrepresented groups in the field of business, such as minorities or women.
- Veteran business scholarship. This type of scholarship is awarded to veterans or active duty military personnel who are interested in pursuing a career in business.
- Online business school scholarships. These are scholarships that are specific to students who are enrolled in an online business degree program.
- Community college business scholarship. This type of scholarship is awarded to students who are enrolled in a community college business degree program.
- MBA business school scholarship. This type of scholarship is awarded to students who are interested in pursuing an MBA at a business school.
- Executive MBA business school scholarship. This type of scholarship is awarded to working professionals who are interested in pursuing an executive MBA at a business school.
Qualifications for Business Scholarships
Now that we have looked at the different types of scholarships available for students interested in studying business, let’s take a look at the qualifications for each one.
- The first type of scholarship, the general business scholarship, usually requires that the applicant is enrolled in or planning to enroll in a business degree program.
- The second type of scholarship, the specific business scholarship, usually requires that the applicant is interested in pursuing a career in the area of business specified by the company or organization offering the scholarship. For example, an applicant for a marketing scholarship may be required to submit an essay discussing their interest in marketing as a career.
- The third type of scholarship, the academic merit-based business scholarship, usually requires that the applicant has a high GPA. Some scholarships may have a minimum GPA requirement, while others may use the GPA as one of many factors to determine who receives the award.
- The fourth type of scholarship, the need-based business scholarship, usually requires that the applicant has a demonstrated financial need. Some scholarships may have a minimum financial need requirement, while others may use the financial need as one of many factors to determine who receives the award.
- The fifth type of scholarship, the minority business scholarship, usually requires that the applicant is a member of an underrepresented group in the field of business. For example, an applicant for a minority business scholarship may be required to submit an essay discussing their experience as a member of a minority group in the field of business.
- The sixth type of scholarship, the veteran business scholarship, usually requires that the applicant is a veteran or active duty military personnel. Some scholarships may have a minimum service requirement, while others may use the military service as one of many factors to determine who receives the award.
- The seventh type of scholarship, the online business school scholarships, usually requires that the applicant is enrolled in an online business degree program.
- The eighth type of scholarship, the community college business scholarship, usually requires that the applicant is enrolled in a community college business degree program.
- The ninth type of scholarship, the MBA business school scholarship, usually requires that the applicant is interested in pursuing an MBA at a business school.
- The tenth type of scholarship, the executive MBA business school scholarship, usually requires that the applicant is working professionals who are interested in pursuing an executive MBA at a business school.
Resources and Tips for Business Students
Tip: 5 benefits of joining a business student organization
- Networking opportunities with professionals in your field
- Access to mentors and potential job connections
- Resume enhancement through prestige and honor society membership
- Opportunities for professional development and education through courses, certifications, trainings, etc.
- Boosts your leadership and teamwork skills through participation in events and projects
The value of joining Beta Alpha Psi for finance students include
- International honor society with over 300 chapters worldwide
- Offers networking events, career fairs, resume workshops, mentorship programs
- Recognized by top employers as an achievement on resumes
- Provides access to the BAP Online Resource Library with resources for interviews, internships, careers in accounting
The benefits of Beta Gamma Sigma for business students
- International honor society with chapters at top universities worldwide
- Recognized by Fortune 500 companies as a prestigious achievement on resumes
- Offers networking opportunities through events and the BGS Global Leadership Summit
- Access to exclusive job postings and the BGS Career Center
The American Management Association for management education and certification
- Offers courses, trainings, and certifications in various management fields such as project management, human resources, leadership development, etc.
- Provides access to industry experts through webinars and conferences
- Membership includes discounts on AMA products and services as well as publications like Harvard Business Review
Joining a business student organization can greatly benefit students by enhancing their resumes, providing networking opportunities, access to mentors and potential job connections, and opportunities for professional development. Research different organizations to find one that aligns with your interests and career goals.
Finally, if you’re interested in pursuing a business degree, there are many different types of scholarships that can help you pay for school. Be sure to research the various types of scholarships available and see if you qualify for any of them. Good luck in your educational pursuits!