It’s no secret that financing your education can be a challenge. Tuition costs continue to rise, and the pressure to find scholarships and other forms of financial aid can be overwhelming. However, many scholarships tailored to your field of study may be eligible if you’re a finance student. Here are ten reasons you should apply for scholarships as a finance student.
1. You Can Get Free Money For College
One of the best things about scholarships is that they don’t have to be repaid— meaning they’re essentially free money for college. And as a finance student, you know all too well that every little bit helps when it comes to managing your finances.
2. There Are Scholarships Available For Every Type Of Finance Student
Whether you’re interested in pursuing a career in accounting, financial planning, or investment banking, there are scholarships for you. No matter your specific area of interest within the field of finance, there’s likely a scholarship out there waiting for you to apply.
3. You Could Earn Enough Money To Cover Your Entire Tuition Costs
While some scholarships only award a few hundred dollars, others can be worth tens of thousands. If you’re lucky enough to receive one of the latter, you could potentially cover your entire tuition costs—meaning you wouldn’t have to take out any loans!
This is especially helpful if you’re planning on pursuing a graduate degree in finance, as the cost of tuition can be pretty high.
4. Scholarships Can Help You Stand Out From The Competition
In a competitive field like finance, anything that can help you stand out from other job applicants is an advantage worth pursuing. Having scholarship funding on your resume will impress potential employers and give you a leg up on the competition.
Standing out from the competition is essential, but so is having the right experience. Many scholarships come with internship opportunities that will give you first-hand experience in finance—making you even more attractive to potential employers.
5. You’ll Have More Time To Focus On Your Studies
Suppose you can secure enough scholarship money to cover the cost of tuition (or even just a significant portion). In that case, it’ll free up more time in your schedule to focus on your studies instead of working multiple jobs just to make ends meet financially.
As a finance student, it is essential to be well-rounded. Employers want to see that you have not only the academic chops but also the experience. And what better way to stand out and get some great experience under your belt than by applying for scholarships?
6. You May Be Able To Study Abroad
One of the great things about scholarships is that they can open up opportunities that might otherwise be out of reach. For example, if you’re interested in studying abroad, but the cost is prohibitive, a scholarship could make it possible.
Studying abroad is an excellent way to gain international experience in the finance field, which can make you even more attractive to potential employers.
7. You Could Qualify For Additional Funding
In some cases, scholarships may make you eligible for additional funding, such as grants or student loans. Some different funding options may have more favorable terms than others, so it’s worth doing your research before you commit to anything.
For example, if you’re planning on pursuing a graduate degree in finance, you may be able to get a Graduate PLUS loan. These loans usually have lower interest rates and more flexible repayment options than private ones, making them more affordable.
8. You Could Receive Tax Benefits
In some cases, you may be able to receive tax benefits for your scholarship money. For example, if you’re awarded a scholarship from your employer, the scholarship amount may not be considered taxable income.
It’s always a good idea to speak with a tax advisor to see if you could qualify for any tax benefits before you accept a scholarship.
9. You May Be Able To Use The Scholarship Money For Other Expenses
In addition to tuition, other expenses come with pursuing a finance degree, such as books, supplies, and room and board. Some scholarships may cover these costs or at least a portion of them.
It’s always a good idea to check with the scholarship provider to see what expenses are covered before you accept the award.
10. You Could Receive Job Placement Assistance
Some scholarships may come with job placement assistance after you graduate. This is especially common with corporate-sponsored scholarships, as the company is usually interested in hiring the best and brightest students.
Job placement assistance can be a great way to secure a job in the finance field after you graduate. It’s worth considering if you’re looking for an edge in the job market.
Final Thoughts
As you can see, many great reasons to apply for scholarships as a finance student. Scholarships can help you cover the cost of tuition, gain valuable experience, and even land a job after graduation. So if you’re serious about pursuing a finance career, consider applying for a WB Trading scholarship.
