Looking to get a finance degree and want to know your scholarship options? Organizations across the country offer specific major scholarships to help encourage students to pursue higher education. Depending on your academic level, major, financial background, and other factors, all can play a significant role in securing a finance scholarship. Learn more about your finance scholarship opportunities.
Types of Financial Degrees
Depending on your level of education, you may narrow down your options when it comes to choosing a finance scholarship. Here are the different types of finance degrees you can get and their scholarship opportunities.
With an associate degree, one can get started in the financial world. This 2-year degree can equip you to become an accountant, business owner, loan officer and much more. Here are some of the best associated funding scholarships one can apply for:
- Fund your future scholarship – $2,500: For any full-time student at an accredited university pursuing a degree in finance
- Tomorrow’s Business Leaders – $1,000: For any full-time student pursuing a finance or business degree
- Bellevue Chapter Scholarship – $1,500: Need-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 wide range of career opportunities to choose from. This degree can lead to becoming a financial analyst, investment analyst, business planner, wealth manager, and other positions. The majority of finance scholarships are for those pursuing a bachelor’s degree. Here are some dedicated scholarships for undergraduate finance students:
- HEEF: Sandra Y. Cervantes – $1,000 to $3,000: For community college students majoring in business, finance, or real estate
- BMO Capital Markets Lime Connect Equity Through Education – $10,000: For undergraduates pursuing a degree in business, math, or a related discipline
- HEEF: Wells Fargo – $1,000 to $2,000: For undergraduate business or finance students
- Risk Management Association (RMA) Foundation – $2,000 to $5,000: For college juniors and seniors pursuing a degree in finance, banking, economics, or business
- Bail Industry Scholarship Program for Minority Students – $5,000: For minority students majoring in finance, insurance, risk management or economics
- Andrew Gottschalk Finance – Full course: Need-based scholarship for sophomores, juniors, or seniors majoring in finance or economics
Having an MBA in finance opens up many career opportunities. Due to this level of education, one has more flexibility and options to easily apply for higher level positions. Some positions that MBA students can apply for are Chief Financial Officer, Chief Investment Officer, Director of Investor Relations, Financial Tenders and Treasurers, and more. Here are some finance MBA scholarships you can apply for:
- Association of Government Financial Officers – $5,000 to $20,000: For MBA students pursuing a career in public 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
- Financial Women’s Financial Leadership Association of San Francisco – $15,000: For female graduate students attending 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 Scholarship – $1,000 to $24,000: For female Forte Foundation members pursuing activities at an accredited university
Depending on the desired profession, you may need to obtain a financial certificate in addition to your education. Here are some of the most common financial certifications and their scholarship opportunities.
CFP (certified financial planner)
A Certified Financial Planner has an official designation from the Certified Financial Planner Standards Board to help others manage their finances. This can range from retirement planning, insurance, taxes, investments to education. Unlike a financial advisor, CFPs develop detailed plans on how their clients can achieve their desired financial situation rather than focusing solely on the client’s investments. To become a CFP, one must complete a CFP Board-registered training program, pass their CFP exam, have completed a bachelor’s degree, and have experience in financial planning. Here are some scholarships to help you pay for the fees associated with the CFP exam and training program:
- Diahann W. Lassus Scholarship – Covers registration fees and $300 travel allowance: Need-based scholarship for those pursuing their CFP
- Sid Blum Scholarship – Exam Fee Reimbursement: Need-based scholarship for those pursuing their CFP
FRM (financial risk manager)
To successfully receive an FRM designation, one must pass the two-part FRM exam as well as two years of work experience in financial risk management. Due to the difficulty of these exams, the title is highly recognized internationally and opens many doors. One can become a risk analyst, risk manager, financial manager and other positions. Each of these exams comes with a fee for registering and taking the exam itself. Here is the main FRM scholarship:
- GARP – Covers Exam Fees: This scholarship is only available to MBA students taking the FRM Part 1 exam and only covers exam fees (not registration fees)
CFA (Chartered Financial Analysts)
A Certified Financial Advisor is an internationally recognized designation by the CFA Institute, showing that one is capable of assisting with investment analysis and wealth management. A CFA can become a credit analyst, investment manager, trader, financial planner, and many other high-paying positions. There are three levels of CFA (Level I, Level II, Level III) illustrating the individual’s proficiency in financial analysis. To earn a CFA, you must pass the exam, complete your training program, have more than 4,000 hours of work experience, and become a member of the CFA Institute. Here are some scholarships that help those pursuing the CFA:
- CFA Access Scholarship – Reduced Exam Registration to $250: Need-based scholarship for those who already meet all the requirements of the CFA program
- CFA Women’s Scholarship – Exam registration reduced to $350: For women who are not eligible for other CFA Institute scholarships and have not registered for their next exam
- CFA Scholarship – Exam registration reduced to $350: For students registered at an affiliated university and not registered for their next exam
Where to find scholarships?
Researching and applying for scholarships can be an overwhelming process, but there are various resources you can rely on. Depending on whether you are looking for primarily merit-based or need-based scholarships, these websites can help you meet your needs. Here are some resources you can use when starting your process:
Also, specifically for certifications, go to the institute website to find their scholarship opportunities.
What to look for?
Before applying for a scholarship, make sure you have all the necessary qualifications. Some scholarships depend on university, location, major, gender, race, ethnicity, and more. Also, make sure you have all the proper documentation to complete your application. This may include personal essays, letters of recommendation, transcripts, financial history, and other documents.
First, it is important to meet all scholarship deadlines and qualifications. Make sure to make your app as unique as possible. These organizations receive hundreds of applications, it is important to differentiate yourself from other applicants. This can be particularly demonstrated through your letters of recommendation and your personal essay.
Start your journey now
Pursuing a career in finance is an exciting process. Don’t let the costs associated with getting a higher education deter you from getting your dream job. Get inspired and start your scholarship process now! Keep up to date with the latest financial news and funding opportunities with Benzinga.
Grants are based on financial need, while scholarships can be merit-based or need-based.
Many scholarships depend on your university degree. However, it is on a case-by-case basis that you must reimburse them.
This money will be used to pay for educational costs that you may incur while attending school
You can use your grant for all school-related expenses.
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