
Scholarships for accounting majors
When it comes to finances, businesses know that hiring a skilled accountant or individuals with an accounting background can save money in the long run. Accounting majors not only gain mathematical skills, but also critical thinking and problem-solving skills that can be useful for diverse roles in finance or business. With the flexibility to work in virtually any industry, a degree in accounting can allow you to offer a hard skill to businesses or organizations that are in line with your interests.
Another benefit to pursuing a degree in accounting is a stable job market, consistent growth, and considerable salaries. According to the Bureau of Labor Statistics (BLS), accounting and auditing careers are expected to grow by 7% between 2020 and 2030, and accountants earn an average annual salary of $73,560 per year.
However, becoming an accountant isn’t the only career path that you can take with your accounting degree. You’ll gain the skillset to seek jobs in auditing, forensic accounting, financial planning, consulting, business management, and taxation, among many others. With this in mind, an accounting degree can also be a great option for students with diverse interests who want to gain a strong foundation of business knowledge.
With college education costs on the rise, saving money on tuition is key if you want to set yourself up for success. There are numerous types of financial aid, and by completing the Free Application for Federal Student Aid (FAFSA), you can find out your eligibility status. Besides federal student aid, many private organizations offer scholarships for accounting majors from a variety of backgrounds.
Scholarships for undergraduate accounting students
Earning a bachelor’s degree in accounting can set you up for a career as a staff accountant, internal auditor, budget analyst, loan officer, and more. The scholarships below and the Degree Choices database are a great place to begin your search. You can also reach out to the financial aid office at your university to see if they provide scholarships for accounting or business majors.
Here are 3 money-saving scholarships for accounting majors at the undergraduate level:
Each year, Surety Bond Authority provides $1,500 to a student enrolled in an accounting, banking, finance, or business-related program at any university in the United States. The winner is selected based on an essay explaining their decision to pursue their current program.
Scholarship amount: $1,500
Official website: Surety Bond Scholarship
The National Society of High School Scholars awards $1,000 to one high school senior or recent high school graduate per year. Applicants must be planning to enroll in a STEM program, such as accounting. The organization places an emphasis on students from underrepresented groups.
Scholarship amount: $1,000
Official website: NSHSS Foundation STEM Scholarship
PM Business Advisors grants scholarships worth $2,500 to students who demonstrate outstanding academic performance in the fields of finance or accounting. Applicants should have plans to sit for the CPA exam within 3 years of applying for the scholarship.
Scholarship amount: $2,500
Official website: Striving for Greatness Accounting and Finance Scholarship
Scholarships for graduate accounting majors
Pursuing a master’s degree in accounting is a great option if you’re aiming to get a management-level role in the field. A graduate degree can also help you specialize in a particular area. However, with the average cost of a master’s degree being $66,340, many students are turned away from pursuing further education to avoid the additional debt.
Scholarships are a risk-free way to fund your graduate degree. Here are just a few of the scholarships for accounting majors available at the graduate level:
Each year, the AICPA awards five $5,000 scholarships to students planning to enroll in a graduate-level accounting program or pursue CPA licensure. Applicants must hold an undergraduate degree in liberal arts or a non-business field and be an AICPA Student Affiliate Member.
Scholarship amount: $5,000
Official website: AICPA John L. Carey Scholarship Award
Both undergraduate and graduate students can apply for this $1,000 scholarship from the National Conference of CPA Practitioners (NCCPAP). Applicants must be a direct descendent of a current NCCPAP member.
Scholarship amount: $1,000
Official website: Carol Markman CPA Accounting Scholarship
Awarded by the Girard Miller Foundation, this $20,000 scholarship is for graduate-level students planning to pursue a career in state or local government finance. The winner is selected based on academic and professional experience, academic performance, career plans, and letters of recommendation.
Scholarship amount: $20,000
Official website: Goldberg-Miller Public Finance Scholarship
Scholarships for doctoral accounting majors
If you want to conduct research in the field or further your expertise, it can be beneficial to pursue a doctoral degree in accounting. It’s a good idea to reach out to your university’s financial aid office to discuss potential teaching or research assistantships that can reduce the cost of your education. There are also several organizations that offer fellowships or scholarships for accounting majors at the doctoral level, including the ones below.
Deloitte awards $25,000 to doctoral-level students in accounting who are in their final year of coursework. Students should be planning to teach at a college or university in the United States following graduation. Applicants are expected to work with their school’s financial aid office to apply.
Scholarship amount: $25,000
Official website: Deloitte Doctoral Fellowship Program
Each year, the AICPA grants five $10,000 scholarships to doctoral students who are also CPAs. Applicants must have professional experience in accounting and be registered as a faculty member or professional on ThisWayToCPA.com.
Scholarship amount: $10,000
Official website: AICPA Foundation William (Bill) Ezzell Scholarship
Scholarships for women in accounting
Historically, accounting was a male-dominated field, although women have increasing joined the profession in the last decades. Several organizations are encouraging women to get involved in the field by offering resources, special programs, or financial support.
Here are just a few of the great scholarships for women in accounting:
With up to 32 scholarships available, worth $2,000 each, Zonta International provides scholarships at the district and regional level. In addition, they grant 6 international scholarships of $8,000 to doctoral students annually. Women in undergraduate or graduate business-related programs, including accounting, are eligible to apply. Students should apply through their local Zonta chapter.
Scholarship amount: 2,000
Official website: Jane M. Klausman Women in Business Scholarship
The EFWA provides several different scholarships for women pursuing accounting studies. Available awards include the Women in Need Scholarship, Women in Transition Scholarship, and Institute of Management Accountants Scholarship.
Official website: Educational Foundation for Women in Accounting Scholarships
This $5,000 scholarship is awarded to 4 women per year who are in an accounting-related program at the undergraduate or graduate level. Applicants should be planning to pursue CPA licensure.
Scholarship amount: $5,000
Official website: AWSCPA Women’s Initiatives Executive Committee Scholarship
Scholarships for minority students in accounting
With the goal of expanding diversity and inclusion in the accounting field, many organizations provide scholarships for accounting majors from underrepresented groups. Applying for minority-focused scholarships that you’re eligible for can help you save money on school while competing with a smaller applicant pool.
The AICPA provides scholarships ranging from $3,000 to $10,000 for minority students pursuing an accounting-related degree. Applicants should also plan to complete the CPA exam.
Scholarship amount: $3,000 – $10,000
Official website: AICPA Scholarship Award for Minority Accounting Students
In partnership with the United Negro College Fund, AlixPartners awards up to $5,000 to African-American/Black students majoring in accounting, analytics, business, engineering, finance, math, or technology.
Scholarship amount: up to $5,000
Official website: AlixPartners/UNCF Scholarship
The National Association of Black Accountants provides annual scholarship awards ranging from $1,500 to $5,000 for students of color. Applicants must be majoring in accounting, finance, or business and be a NABA Student Member. Both undergraduate and graduate students can apply.
Scholarship amount: $1,500 – $5,000
Official website: NABA National Scholarship
Scholarships for CPA Candidates
The CPA exam licenses individuals to serve as Certified Public Accountants. Many students who graduate with accounting degrees go on to complete this rigorous exam. However, with costs totaling upwards of $1,200, it can be cost-prohibitive for some students. If you’re planning to complete the CPA exam, check out the scholarships below to reduce your out-of-pocket expenses.
This $1,500 award is granted to reimburse the cost of CPA exam fees and preparatory courses. Applicants must be approved for the exam by their State Board of Accountancy and be an AICPA Student Affiliate or AICPA CPA Exam Candidate Affiliate member.
Scholarship amount: $1,500
Official website: AICPA Foundation CPA Exam Scholarship
Residents of Massachusetts planning to sit for the CPA exam within the state can apply for this lottery-based award. The Massachusetts Society of Certified Public Accountants will randomly select up to 20 entries to receive a $500 voucher for exam costs.
Scholarship amount: $500
Official website: CPA Exam Lottery Award
Conclusion
A degree in accounting paves the way for students to enter a variety of career paths and acquire specialized credentials. With student loan interest rates on the rise, it’s a good strategy to apply for as many scholarships for accounting majors as possible. A little extra effort now can set you up for financial success further down the road.
FAQ
How much does an accounting degree cost?
According to the Education Data Initiative, the average cost of a 4-year undergraduate degree education is $142,880, $66,340 for a graduate degree, and $114,300 for a doctoral degree. You can reduce the cost of your education by attending public and in-state schools, applying for federal student aid, and winning scholarships.
Where can I find scholarships for accounting majors?
In addition to the Degree Choices database check the scholarship pages on Petersons, Cappex and Fastweb. Your high school guidance counselor or university’s financial aid office is an excellent resource to learn about financial aid options. Other organizations that might offer scholarships include your employer and local organizations.
How do I know if I’m eligible for accounting scholarships?
There are thousands of general and accounting-specific scholarships available to help students pay for school, which means you’re likely to qualify for a few. To find out if you’re eligible, review the scholarship guidelines or reach out to the organization directly.
Is an accounting degree worth the money?
In short, yes. With projected growth in the field and stable employment opportunities, pursuing a degree in accounting is a solid career move. However, speaking with your guidance counselor or university’s career center about your professional goals can help you decide if an accounting degree is the right choice for you.
More accounting scholarships
Asian Pacific Fund Scholarship
Asian Pacific Fund
Amount: $1,000 – $5,000
Deadline: ongoing
New Jersey Society of Certified Public Accountants College Scholarship Program
New Jersey Society of Certified Public Accountants
Not Renewable
Amount: $6,500+
Deadline: ongoing
SCACPA Educational Fund Scholarships
South Carolina Association of Certified Public Accountants
Amount: $500 – $2,500
Deadline: 5/31
Jane M. Klausman Women in Business Scholarships
Zonta International Foundation
Not Renewable
Amount: $2,000 – $8,000
Deadline: 8/15
Airport Minority Advisory Council Foundation Scholarship
Airport Minority Advisory Council
Not Renewable
Amount: Varies
Deadline: 3/29
Deloitte Foundation Doctoral Fellowship Program
Deloitte Foundation
Amount: >= $25,000
Deadline: 10/15
Fukunaga Scholarship Foundation
Fukunaga Scholarship Foundation
Amount: $5,000+
Deadline: ongoing
COMTO North Texas Scholarship Program
Conference of Minority Transportation Officials North Texas
Not Renewable
Amount: $500 – $2,500
Deadline: 3/31
Florida Bankers Educational Foundation (FBEF) Scholarship/Loan
Florida Bankers Educational Foundation
Not Renewable
Amount: $1,000 – $5,000
Deadline: ongoing
Merchants Exchange Scholarship Fund
Merchants Exchange Scholarship Fund
Not Renewable
Amount: $250 – $2,500
Deadline: 5/31
$2,000 PixelPlex Bi-Annual Scholarship
PixelPlex
Not Renewable
Amount: $2,000+
Deadline: 6/5
National Association of Water Companies – New Jersey Chapter – Scholarship Program
National Association of Water Companies-New Jersey Chapter
Not Renewable
Amount: $5,000+
Deadline: 5/1
Charleston Chapter of WV Society of CPAs Scholarship
Greater Kanawha Valley Foundation
Renewable
Amount: Varies
Deadline: 2/1
Julia Kiene Fellowship
Women’s International Network of Utility Professionals
Not Renewable
Amount: $2,000+
Deadline: 5/1
Laurels Fund
Educational Foundation for Women in Accounting (EFWA)
Not Renewable
Amount: $1,000 – $5,000
Deadline: 5/15
Louisan Mamer Fellowship
Women’s International Network of Utility Professionals
Not Renewable
Amount: $500+
Deadline: 5/1
Lyle Mamer Fellowship
Women’s International Network of Utility Professionals
Not Renewable
Amount: $1,000+
Deadline: 5/1
MSCPA Diversity & Inclusion Scholarship
Educational Foundation of the Massachusetts Society of Certified Pu
Not Renewable
Amount: Varies
Deadline: 2/16
Michele L. McDonald Memorial Scholarship
Educational Foundation for Women in Accounting (EFWA)
Not Renewable
Amount: $1,000+
Deadline: 4/30
Rhonda J. B. O’Leary Memorial Scholarship (Seattle Chapter AFWA)
Educational Foundation for Women in Accounting (EFWA)
Renewable
Amount: $2,000+
Deadline: 4/30