5 Great Business Scholarships for Business Majors

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Going to college or graduate school to become a CEO (or other business professional) comes with perks: You can test your ideas on campus, network with classmates and faculty, and compete against other schools in entrepreneurial contests. And, last but not least, you could also score business scholarships for your degree.

Whether you’re a business major seeking a bachelor’s or a grad student pursuing your M.B.A., winning business scholarships can help you leave school without student loan debt. Here are five such opportunities to consider as part of your search:

1. GreenPal Small Business Scholarship
2. Prospanica Foundation Scholarships
3. NASE Dependents Scholarship Program
4. Jane M. Klausman Women in Business Scholarship
5. Lloyd Trotter Scholarship
PLUS: How to find more business school scholarships

1. GreenPal Small Business Scholarship

If you’re a high school senior planning on studying business, you could score $2,000 to help pay your college costs through the GreenPal Small Business Scholarship. You’ll need to study at an accredited university and maintain a strong GPA of 3.5 or above.

According to the scholarship information, they’re looking for someone who is “motivated” and “driven.” The competition may be a little tight, however, since only one award is given out.

Deadline to apply: Oct. 15, 2019

2. Prospanica Foundation Scholarships

Formerly known as the National Society of Hispanic MBAs, Prospanica offers gift aid to citizens, legal residents and students who qualify under Deferred Action for Childhood Arrivals (DACA). If you’re a sophomore, junior, senior or postgraduate student of Hispanic or Latino heritage, are attending an accredited business school and have strong marks in the classroom, you could receive between $2,000 and $5,000.

Deadline to apply: May 27

3. NASE Dependents Scholarship Program

If your parent is a member, or is eligible to become a member, of the National Association for the Self-Employed (NASE), you could compete for one of four $3,000 scholarships.

The awards go to high school and college students (ages 16 to 24) who are education-oriented and career-focused. Demonstrating school and community participation also helps your case.

Although you don’t have to major in business to apply, you do need a strong track record in the classroom. A minimum 3.0-grade point average is required to apply.

Deadline to apply: April 30 (annually)

4. Jane M. Klausman Women in Business Scholarship

Funded by Zonta International, an organization promoting gender equality, the Klausman Scholarship doles out six awards to women who are in college or graduate school and pursuing a business or business-related degree.

The $2,000 scholarships are given to Zonta club members internationally. Some of the winners in 2018, for example, hailed from the U.S., Australia, Macedonia, and France.

Deadline to apply: July 1 (annually)

5. Lloyd Trotter Scholarship

Named after the first African-American officer of General Electric, the Lloyd Trotter Scholarship awards up to $10,000 for undergraduate and graduate students.

Administered by the National Black MBA Association, the scholarship is aimed toward minority students studying in the U.S. International students hailing from Africa and holding a student visa are also eligible to apply.

Deadline to apply: May (annually)

How to find more business school scholarships

Sometimes, the key to finding the best school scholarships is to attend the best colleges for business. The University of Missouri’s Robert J. Trulaske, Sr. College of Business, for example, extends a handful of generous awards to freshman and continuing students.

Top business schools should administer a healthy amount of financial aid, lessening your need to borrow student loans. Check in with your (prospective) school’s financial aid office to learn about opportunities for gift aid that don’t need to be repaid.

A little more legwork might be needed to find business school scholarships that are sourced off campus.

In addition to checking in with professional associations like the NASE, don’t discount nonprofits. If you reside in Tennessee, for example, you could be a fit for Scarlett Foundation scholarships, which awards $2,500 to $15,000 for business and STEM students.

And don’t just focus on scholarships that are specifically for business students. If your entrepreneurial spirit is strong, you might find funding via an organization like the Dell Scholars program, even though it caters toward all major fields of study. Grants from your state are similarly broad-based but potentially useful for your bachelor’s or MBA.

Rack up gift aid — and income — before resorting to student loans

Whether you’ve yet to declare your major, or you’re on your way to business school, you’re probably already aware of the rising price of higher education.

Reduce your cost of attendance by applying for business school scholarships. And of course, they don’t need to be repaid, unlike federal and private student loans. They could also foster connections with potential business mentors.

If scholarships and grants don’t get you all the way to your school’s cost of attendance, however, you might have to get creative. Think like a business student and consider these strategies:

Whether your tuition money comes from a helpful donor or your own pockets, consider this advantage: By avoiding taking out student loans for your MBA, you might be better positioned to borrow a business loan down the road.

 

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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

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