Business School Grants
Many people are surprised to hear that business school grants are available to students in both undergraduate and graduate business studies. If you are hoping to major in business in your undergraduate education or earn your MBA, there are ways to finance business school that don’t involve taking out a loan.
- Federal Pell Grants. These are only available for undergraduates, but they will cover a significant portion of your tuition. You can make up the rest in grants from other sources and scholarships.
- Federal Supplemental Educational Opportunity Grant. This is another federal grant for undergraduates only, and is offered to students who demonstrate great financial need.
- Your state. States want to keep their highly qualified workers at home. Their chances of doing so increase greatly if they can give their citizens the money to go to school within the state’s borders.
- Employer sponsored grants. Many employers are willing to fund all or part of your education. It’s not just altruism on their parts; they are hoping to cultivate a highly skilled, competitive work force. If your employer pays for your college or MBA, you might be expected to remain with that company for a number of years.
- Gender-based grants. These are especially available for women entering business, since it is still seen as a male dominated field. Some of these are listed at scholarship sites such as CollegeScholarships.org and the American Association of University Women.
- Ethnicity-based grants. If you are wholly or partially a member of a specific ethnic group, there many be grants for business school available to you. You can begin at sites such as Scholarships.com, and also search your group’s national association webpage.
- Your school. Many schools have a pool of unadvertised grant money that they can make available at their discretion. Talk to your finanancial aid officer or the head of the business department.
- Grants for projects. If you have a specific project you’d like to pursue, either within or outside of your academic studies, you can find foundations willing to give you a grant for it.
Since a grant is simply financial aid that you don’t have to pay back, don’t forget to search under terms like “fellowship” and “scholarship.” A well-educated and highly skilled work force is an asset to any society, and there are many people and companies willing to make the investment of sending you to business school.