Looking to get a degree in finance and want to know your scholarship options? Organizations across the country provide major specific scholarships to help encourage students to pursue their higher education. Depending on your academic standing, major, financial background, and other factors, can all play an important part in getting a finance scholarship. Learn more about your opportunities for a finance scholarship.
Types of Financial Degrees
Depending on your level of education, can narrow your options when it comes to choosing a finance scholarship. Here are the different types of financial degrees you can obtain and their scholarship opportunities.
With an associates degree, one can launch themselves into the financial world. This 2 year degree can result in one becoming a bookkeeper, a business owner, a loan officer, and much more. Here are some of the top associate finance scholarships one can apply to:
- Finance Your Future Scholarship - $2,500: For any full-time student in an accredited university pursuing finance
- Business Leaders of Tomorrow - $1,000: For any full-time student pursuing a degree in finance or business
- Bellevue Chapter Scholarship Award - $1,500: Needs-based scholarship for students majoring in accounting or finance
Big Man Fritsche - $1,000 to $5,000: For students majoring in finance, business, information technology, and other majors
With a bachelor’s degree in finance, one has a broad range of career opportunities to choose from. This degree can lead one to becoming a financial analyst, an investment analyst, a corporate planner, a wealth manager, and other positions. Majority of finance scholarships are for those pursuing a bachelor’s degree. Here are some scholarships dedicated to undergraduate students pursuing finance:
- HEEF: Sandra Y. Cervantes - $1,000 to $3,000: For students in a community college majoring in business, finance, or real estate
- BMO Capital Markets Lime Connect Equity Through Education - $10,000: For undergraduate students pursuing a degree in business, math, or a related discipline
- HEEF: Wells Fargo - $1,000 to $2,000: For undergraduate students pursuing business or finance
- Risk Management Association (RMA) Foundation - $2,000 to $5,000: For college juniors and seniors pursuing finance, banking, economics, or business
- Surety Industry Scholarship Program for Minority Students - $5,000: For minority students majoring in finance, insurance, risk management, or economics
- Andrew Gottschalk Finance - Full tuition: Needs-based scholarship for college sophomore, juniors, or seniors majoring in finance or economics
Having an MBA in finance opens many career opportunities. Due to this level of education, one has more flexibility and options in applying for higher level positions with ease. Some positions MBA students can apply for are finance manager, investment manager, investor relations manager, finance offers & treasurers, and much more. Here are some MBA finance scholarships you can apply for:
- Government Finance Officers Association - $5,000 to $20,000: For MBA students pursuing a career in government finance
- Ritchie-Jennings Memorial $1,000 to $10,000: For MBA students majoring in finance who wish to pursue a career in fraud examination or other anti-fraud professions
- The Financial Women’s Association of San Francisco Financial Leadership - $15,000: For female graduate students who attend a San Francisco Bay Area university majoring in finance
- The Wellington Management Foundation - $5,000: For African American/Black MBA students at UNCF member schools majoring in finance
- Forte Foundation Fellowship- $1,000 to $24,000: For women Forte Foundation members pursuing business in an accredited university
Depending on your desired profession, you may need to obtain a financial certificate along with your education. Here are some of the most common financial certifications and their scholarship opportunities.
CFP (Certified Financial Planner)
A certified financial planner has formal designation from the Certified Financial Planner Board of Standards to help other individuals in managing their finances. This can span from retirement planning, insurance, taxes, investing, to education. Unlike a financial advisor, CFPs develop thorough plans on how their clients can reach their desired financial standing rather than just focusing on the client’s investments. In order to become a CFP, one must complete a CFP Board-registered education program, pass their CFP exam, have earned a bachelor’s degree, and have financial planning experience. Here are some scholarships to help out with the fees associated with CFP exam and education program:
- Diahann W. Lassus Scholarship - Covers registration fee & $300 travel stipend: Needs-based scholarship for those pursuing their CFP
- Sid Blum Scholarship - Reimbursement of exam fees: Needs-based scholarship for those pursuing their CFP
FRM (Financial Risk Manager)
To successfully receive a FRM designation, one must complete the FRM’s two part exam along with two years of work experience in financial risk management. Due to the difficulty of these exams, the designation is highly recognized internationally and opens a lot of doors. One can become a risk analyst, risk manager, chief financial officer, and other positions. Each of these exams have fees associated with them for both enrollment and taking the exam itself. Here is the main FRM scholarship:
- GARP - Covers exam fees: This scholarship is only available for MBA students taking the FRM Part 1 exam and it only cover the exam fees (not the enrollment fee)
CFA (Chartered Financial Analysts)
A certified financial advisor is an internationally recognized designation by the CFA institute, showing one is able to assist in investment analysis and wealth management. A CFA can become a credit analyst, chief investment officer, trader, financial planner, and many other high-paying positions. There are three levels of CFAs (Level I, Level II, Level III) exemplifying the individual’s competency in financial analysis. How to get a CFA is by passing the exam, completing their education program, having 4,000+ hours of work experience, and becoming a member of the CFA Institute. Here are some scholarships that assist those pursuing the CFA:
- CFA Access Scholarship - Exam registration reduced to $250: Needs-based scholarship for those who already meet all CFA program requirements
- CFA Women’s Scholarship - Exam registration reduced to $350: For women who do not qualify for other CFA Institute scholarships and have not registered for their next exam
- CFA Student Scholarship - Exam registration reduced to $350: For students enrolled in an affiliated university and have not registered for their next exam
Where to find Scholarships?
Looking and applying for scholarships can be an overwhelming process, but there are various resources available you can lean on. Depending on whether you are looking for predominantly merit or needs-based scholarships, these websites can help you cater to your needs. Here are some resources you can utilize when starting your process:
Additionally, specifically for certifications, go on the institute’s website to find their scholarship opportunities.
What to look for?
Prior to applying for a scholarship, ensure that you make all of the necessary qualifications. Some scholarships are dependent on university, location, major, gender, race, ethnicity, and much more. Moreover, make sure you have all of the appropriate documentation to complete your application. This can include personal essays, letters of recommendation, transcripts, financial background, and other documents.
Firstly, it is important to meet all of the scholarship’s deadlines and qualifications. Be sure to craft your application as unique as possible. These organizations get hundreds of applications, it is important to differentiate yourself from the other applicants. This can be especially shown through your letters of recommendation and personal essay component.
Start Your Journey Now
Pursuing a career in finance is an exciting process. Don’t let the fees associated with gaining a higher education deter you from getting your dream job. Get inspired and start your scholarship process now! Keep updated on the latest financial news and finance opportunities with Benzinga.
Grants are based on financial need whereas scholarships can be based on merit or needs.
Many scholarships are contingent on you completing university. However, this is a case by case basis on whether you have to pay them back.
This money will be used to pay for any educational expenses you may incur when attending school
You can use your grant for any school-related expenses.
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