PAY FOR COLLEGE WITH A BUSINESS SCHOLARSHIP
Business scholarships are one of the best educational investments since business majors get a return on that investment faster than other majors.
In fact, after a year in the work force recent business graduates can expect an average pay increase in the neighborhood of sixteen percent.
Business scholarships are widely available if you know where to look. Be forewarned that you will have to go after these business scholarships early because business is the most popular of all majors with fully twenty percent of undergraduates majoring in business.
It’s with good reason that so many American college students are majoring in business. Business is, after all, the business of America. This is just one more reason why business scholarships are at such a premium.
It must be working. Even the Chinese are coming to the United States to study business. Maybe that’s why the Chinese economy in growing by leaps and bounds. It’s almost mind boggling, but there are currently 128,000 Chinese students studying at American colleges or universities, the vast majority of them studying—you guessed it—business.
One of the great things about a business degree is how versatile it can be. A business background prepares a student for just about any career and the problem-solving skills one learns translate well into leadership positions. One example of this would be the fact that those with business degrees become Fortune 500 CEOs more frequently than any other major besides engineering.
After you’ve turned over every rock you can find looking for business scholarships it’s time to go to your employer. Many employers will gladly pick up part or all of the tab for business school if in return they are getting a more highly skilled and loyal employee. Those who work in banking frequently take advantage of this kind of arrangement.
You should not overlook the business scholarships that may be available from your local community. These awards are often not bigger than $1,000, but a few of them can help make a dent in your business school budget.
You can start at places like the rotary club, which is a meeting place for many local business leaders. When you compete for these local scholarships you may be pleasantly surprised with your results. Plus you are only competing with other students from your area and not necessarily with every hungry business student from around the nation.
The average business student leaves school $40,000 in debt. So, while you would like to avoid that fate, know that it is the norm to owe a little bit of money when you graduate. Most of this debt comes from having to pay back the Stafford and Perkins loans so commonly used by business students.
If you really want to avoid debt it’s a good idea to fill out a FAFSA (Free Application for Federal Student Aid) as well. This will tell you if you are eligible for a Pell Grant up to $5,800 or perhaps some other form of financial aid. If your parents make less than $40,000 a year you have a very good chance of getting some type of financial help.