Sourcing scholarships and financial support for either a bachelors or masters degree in international business often requires careful investigating and uncovering of multiple resources. For the best results as a student seeks scholarships for this type of degree, much like other disciplines, consideration for scholarships is based upon prior academic performance, an applicant’s background, location, the school the person is going to, and current financial status. There are some resources that are available to all types of college students and others that are specific to international business students only. It’s best to pursue all potential scholarships to increase the probability of funding success each year of study.
Federal Grants and Scholarships
Every student, regardless of program, should be making a regular effort to capture federal aid where its offered. This resource application is first initiated by filing a FAFSA form with the federal government through a given college or university’s financial office. The FAFSA opens the door for a student to be offered a Pell Grant, a Perkins Grant, state government grants and subsidized school loans without any extreme grade performance required. The size of the grants alone can range from $1,000 to $10,000 or more per year. For grants, this is free money from the government, and the subsidized loans allow students to borrow without any interest being charged until graduation, which is an immense financial advantage. FAFSA-generated grants and subsidized loans often make up half to two-thirds of many students’ financial support in college programs. An application can be made online at FAFSA.Ed.Gov, and a new application is needed for each year of study.
A number of private scholarships exist that are made available for specific purposes and specific groups, helping students fitting these criteria to advance in their education. If a student finds a potential scholarship match, the scholarships should be pursued. Many are minor awards, ranging from $1,000 to $2,500, but even that can be helpful with books or, when combined with other awards, may pay for a semester of school. Some examples for international business include:
is a resource available only to female students who enter business disciplines. It’s goal is to provide more female candidates for management and eventually board rooms.
is a scholarship designed to support students who need financial help to study abroad in business
Some financial resources are offered only through specific colleges and universities. The restriction is intentional and is designed to help build an international business program within a specific educational institution and attract students of high caliber. Depending which school a student decides to attend, he or she can automatically apply to resources other students elsewhere will not be able to compete for. This reduces the potential number of winners and increases the odds for the eligible applicants to be picked. Examples of such programs include:
Th University of Akron’s Joyce Wortman Barnett Endowed International Business Scholarship for Excellence This is a merit-based scholarship for incoming students who will major in international business at Akron.
The Tuck School of Business at Dartmouth offers various scholarships options through the efforts of the University, its alumni, and partners. Grants are also available to enrolled students to assist in their academic pursuits.
Student Honor Groups and Membership Awards
If a student becomes a member of a particular association or honors group while in school this too can make the student eligible for various scholarships from that organization. This approach includes the following examples among many:
The International Business Honors Society Scholarship This is a $500 scholarship awarded annually to IBHS members with a grade level of at least 3.5 GPA and in a college of business in a participating school.
The Rotary Foundation Ambassadorial Scholarships A scholarship program promoting international business understanding and relationships.
The best and most effective tools a student can use to find international business program scholarships are school guidance counselors, the Internet, college boards, prospective universities, and sometimes even private corporations. Best of all, searching for scholarships can begin anywhere you have an internet connection. Almost every major scholarship that comes from a credible source is listed on a website, often from the provider or from the college or university that provides the resource if school-specific. This easily available tool can be used to prepare grids of scholarship possibilities for planning purposes, allowing a student and parents to map out potential funding sources and which school program provides the best package of scholarship offers available. The value of this planning tool can’t be understated, especially when many students get one chance to go forward with an education in international business.