There are many ways to pay for college if you don’t have money in the bank, including financial aid, student loans and scholarships. If you’re considering bachelor’s in business programs as your college major, you may also want to investigate business scholarships and grants to help pay for your education.

Learn more about programs designed to help business students with the cost of earning their degree.

Education is an investment in the future, which means it does cost something up front. College tuition varies widely based on factors such as whether you attend a public or private college and whether you live on campus or at home. However, undergraduate business degree tuition and fees at even the least expensive public schools are likely to be close to $10,000 a year. This njaneumber could be four or five times as high at an expensive private school. 

If you’re majoring in business, you may be able to reduce the amount you pay out of pocket for tuition by applying for grants or scholarships designed for business students. 

Grants and scholarships are similar, in that they are both monetary awards you don’t have to pay back. Grants are usually given based on financial need or to students who are part of a specific group. While scholarships may ask applicants to demonstrate financial need, they also have a merit element, such as requiring a minimum GPA.  

You may find grants through federal and state government agencies, private organizations and schools. For grants that take financial need into account, the best first step is to fill out the Free Application for Federal Student Aid, or FAFSA. 

While there may be some smaller grants for business students or specifically for those seeking a degree in business administration, many grants are at the federal level and open to students majoring in business and beyond. 

Federal Pell Grants 

Federal Pell Grants are for undergraduates who haven’t earned a degree yet and who have “exceptional financial need.” The awards are based on your FAFSA details, and the maximum amount a student receives is based on the cost of the school they’re attending, whether they attend full time or part time and their family’s ability to contribute money for their education. The maximum award for 2021-22 was $6,495. 

Federal Supplemental Educational Opportunity Grants

Unlike the Pell Grant, which every eligible student can receive, FSEOG money is awarded to participating schools, and the college’s financial aid office distributes the funds until they are gone. The college bases the awards on data from students’ FAFSA forms. Students may receive up to $4,000 a year, based on need and other aid they receive. 

Iraq and Afghanistan Service Grant (PDF, 213 KB)

This federal grant is for students whose parents or guardians died as the result of military service in Afghanistan or Iraq after the 9/11 attack. The program is for students who don’t meet the financial need requirements for a Pell Grant.

AGCO Corporation Grants

These awards are for high school seniors or current college students seeking a two-year or four-year degree in any major. Applicants must demonstrate financial need and be members of the National FFA, an intracurricular student organization for those interested in agriculture and leadership. The award is $2,000 and is not renewable. 

State of Wisconsin Higher Educational Aids Board

Wisconsin has a variety of needs-based financial aid programs for state residents pursuing undergraduate degrees at a college or university in the Badger State. The amount of money awarded to a student will vary depending on which program they qualify for.  

Missy and Angela Woolsey Education Award

This nonprofit provides college funding for individuals with cystic fibrosis who live in Pennsylvania. Applicants must provide a statement of need indicating what funding they require to pay for their education and an essay about how the money can help them achieve their educational goals. 

The Living Breath Foundation Grant (PDF, 91 KB)

This nonprofit provides college financial aid to U.S. citizens living in California or Arizona who have cystic fibrosis. The award is based on financial need. 

Other sources of college grant money may include service and alumni organizations as well as businesses that are trying to increase diversity in hiring by helping more students from underrepresented groups attend college. Check your local community when looking for business degree grants. 

Bachelor’s of business scholarships are available from numerous sources. Professional organizations, nonprofits and some businesses sponsor annual scholarship programs.

Universities may also have endowed business degree scholarships to help students pay for their education. Consult your college or university’s website, financial aid office and college of business to find a list of scholarships that are awarded to business students so you can determine which to apply for.

Eligibility rules, judging criteria, the amount of money awarded and deadlines for scholarships for business students all vary, so it may be wise to search regularly for new scholarship opportunities.

Asparagus Club Scholarship

This scholarship is for rising juniors, seniors or graduate students majoring in business and interested in a career in the grocery industry. The award is $1,500 per semester for up to four semesters. Criteria include a recommendation from a professor, personal statement and minimum 2.5 GPA.  

Blacks at Microsoft Scholarship

This scholarship is for Black high school seniors who plan to study business administration, finance or marketing and are interested in technology. Applicants must demonstrate leadership, have a cumulative GPA of 3.3 or higher and need financial assistance. Microsoft awards multiple scholarships each year, ranging from $1,000 to $20,000.

David R. Parsley Endowed Scholarship for Supply Change Management

This scholarship, provided through the National Restaurant Association, is for students pursuing a degree in supply chain management who are interested in the food service industry and restaurant supply chains. The amount of the award may range from $2,500 to $10,000.

Fukunaga Scholarships

The Fukunaga Scholarships Foundation provides scholarships for students from Hawaii who plan to pursue a bachelor’s degree in business. The scholarship is for $20,000 over four years, and the foundation grants multiple awards each year based on an applicant’s academic record, leadership skills and financial need. The foundation is part of Servco Pacific.

Hispanic Heritage Youth Awards

Sponsored by the Hispanic Heritage Foundation, these scholarships are open to high school seniors who will attend college the following year. Students must have a minimum GPA of 3.0 and show that they excel both in the classroom and in their community in areas such as business, community service or public service. Applicants must have Hispanic heritage and be U.S. citizens, permanent residents or qualify for DACA.

Jane M. Klausman Women in Business Scholarship

Sponsored by Zonta International, these scholarships are for women of any age pursuing a business degree. Students can apply from the sophomore year though the final year of a master’s program. The organization awards up to 32 awards of $2,000 at the regional level, and six international scholarships of $8,000. Applicants should apply through their local Zonta Club.

Business Professionals of America Scholarships

Students who are active in the Business Professionals of America may be eligible for one of the scholarships the organization grants. Options include the Sherrell Wheeler Scholarship, the Tomorrow’s Business Professional Scholarship and the National Technical Honor Society Scholarships.

Material Handling Education Foundation Scholarships

This scholarship is for full-time students studying business or management related to supply chain management or material handling. Scholarships range from $1,500 to $6,000, and the organization gives dozens of scholarships annually. Selection criteria include leadership skills and potential to grow as a leader as well as a history of achieving excellence. 

New York Financial Writers’ Association Scholarship

This organization provides scholarships to enrolled college students who want to pursue a career as a business and financial journalist. Applicants must submit an essay explaining their career goals and why they’re interested in business journalism and provide samples of articles they have written.

Educational Foundation for Women in Accounting Scholarships

This organization offers a range of scholarships for women who are working on a degree in accounting or a bachelor’s of business administration with an accounting concentration. Two of the scholarships, which range from $1,000 to $16,000, are designated for women who are the primary source of income for their families. 

Last updated April 2022