4 minute read

Scholarships for Accounting Majors

Grants, Student Loans, & Fellowships

As accounting majors, working with numbers is a familiar task and the root of this field of study. Today’s accounting students can expect to find many financial aid options to help defray the cost of college expenses. In addition to federal and state financial aid, students can look into scholarships, too.

Scholarships are free money that does not have to be repaid. To find scholarships, accounting students should inquire about their choices through the campus financial aid office. Many colleges and universities offer general scholarships and grants for students, typically based on merit or financial need. For major-specific scholarships, accounting students should speak to to staff from the accounting department or the School of Business for scholarship availability. Accounting typically is part of the business department or business school at most institutions.

Looking for scholarships and awards doesn’t have to stop here. Accounting students interested in further supplementing their financial aid package can seek outside scholarships using the Internet. Many organizations offer scholarships and awards geared toward students pursuing accounting careers.

Types of Scholarships for Accounting Majors

Most accounting major scholarships can be found on-campus at the school of choice, or by using the Internet to seek outside scholarships administered by various organizations. Types of scholarships may include campus-specific scholarships, minority scholarships for accounting majors, state-specific scholarships, and scholarships offered by national organizations.

Campus-specific Scholarships

Most colleges and universities offer general scholarships based on merit and/or financial need through the school’s financial aid office. In addition, these institutions also offer departmental scholarships based on the student’s area of study, like accounting. Scholarships are administered through the school but may come from national organizations, corporations or other generous donors.

Here are examples of university scholarships:

Florida State University offers undergraduate scholarships through the university’s accounting department. Qualifying students with an accounting major can receive a $300 undergraduate scholarship that students can apply for each semester. The accounting department also awards several $500 scholarships to undergraduate accounting majors.

At Stephen F. Austin State University in Texas accounting majors can find a number of scholarships opportunities specific to their field of study offered through the Alumni Association. Award amounts vary, depending on the scholarship and its requirements.

Outside Scholarships for Accounting Majors

A great way to supplement an accounting majors’ financial aid package is to seek outside scholarships specific to their career goals.

Here are some examples:

The American Institute of Certified Public Accountants (AICPA) offers the John L. Carey Scholarship. This scholarship is targeted to accounting students pursuing graduate studies, or a CPA. AICPA awards up to ten scholarships annually in the amount of $5,000 each.

The National Society of Accountants has a Scholarship Foundation which provides scholarship money to accounting students nationwide. These scholarships are awarded to undergraduate students who demonstrate leadership skills, academic achievement, and financial need. Award amounts vary.

State-specific Scholarships

There are state CPA societies and other state agencies which offer scholarships to accounting majors.

Colorado Society of Certified Public Accountants offers two scholarships to accounting majors. The Sophomore Scholarships are awarded to students in their sophomore year in the amount of $1,000. Students must be enrolled at a Colorado community college or, a state college or university, with an accredited accounting program. The College Scholarships are awarded to undergraduate or graduate accounting students enrolled at a Colorado college or university with an accredited accounting program. Award amount is $2,500.

The New York State Society of CPAs offers the Excellence in Accounting Scholarship. This scholarship is awarded to accounting majors with financial need, enrolled at a college or university in the state of New York. Award amount ranges from $1,500 – $2,500.

The Michigan Accountancy Foundation (MAF) awards outstanding accounting students, who are enrolled at a Michigan college or university, scholarships in various amounts. These scholarships are awarded to financial support the accounting students in their fifth/graduate year of study.

Accounting Scholarships for Minority Students

There are several organizations that dedicate their awards and scholarships to minority students who are accounting majors at accredited educational institutions.

The Educational Foundation for Women in Accounting offers several scholarships to women pursuing accounting majors. The Women in Need Scholarship is a one-year renewable scholarship awarded to women accounting majors in the amount of $2,000. The Michele L. McDonald Scholarship is a one-year scholarship for women returning to college after leaving the workforce to raise their children. The award amount is $1,000. The Laurels Fund awards one-year academic scholarships to women pursuing PhDs in accounting. Award amount ranges from $1,000 – $5,000 for each scholarship.

The National Association of Black Accountants, Inc. offers a National Scholarship Program for accounting majors of color. Through this scholarship program, over 50 scholarships are awarded annually ranging from $1,000 – $10,000. Program includes a retreat.

Scholarship Tips for Accounting Majors

  • Check with the school’s department which offers accounting courses and majors for scholarship opportunities. This can be the accounting department, the School of Business, or the business department, depending on the institution.
  • Speak to a financial aid representative on campus for all possible scholarships. There are many state scholarships offered through college and universities for accounting majors.
  • When seeking outside scholarships start early. Be sure to note the deadline for application.

Additional topics

Financial-Aid Articles