Black Accounting Scholarships: Requirements and Opportunities

For many college graduates, student loans are a significant burden, and this is especially true for Black students. Statistics show that Black graduates often owe substantially more in student loan debt than their white counterparts. This financial disparity underscores the importance of scholarships, which do not require repayment, as a means to finance education. This article provides a comprehensive overview of scholarships available to Black students pursuing accounting degrees, along with advice on how to strengthen scholarship applications.

The Financial Hurdle of Graduate School

The cost of graduate school can be a major obstacle. While online classes can lower expenses by eliminating commuting and other costs, tuition and fees can still be challenging. Fortunately, there are numerous financial aid options available, with scholarships being particularly beneficial. Scholarships are awarded based on factors like financial need, specific characteristics, or academic excellence.

General Scholarships for Black Students

Several scholarships are available to Black students across various fields of study:

The Legacy Lab Scholarship

Scholarship Amount: \$10,000
Annual Deadline: October 23
Basic Eligibility Requirements: Applicants must be enrolled in an accredited graduate or undergraduate institution, demonstrate leadership skills, and have a desire to create social change. The application process involves submitting a video clip of five minutes or less answering specific questions.

HBCU National Racial Equity Initiative Scholarship

Scholarship Amount: \$10,000
Annual Deadline: March 31
Basic Eligibility Requirements: This scholarship is for undergraduate or graduate students attending a Historically Black College or University (HBCU). Applicants must be studying a social justice field, such as civil rights, education, or criminal justice, and demonstrate prior experience with activism, community service, or promoting social justice.

American Bus Association Diversity Scholarships

Scholarship Amount: \$5,000
Annual Deadline: Varies
Basic Eligibility Requirements: This award aims to increase diversity in the travel and tourism industry. Awards are based on a student’s area of study as it relates to tourism or travel. Applicants must demonstrate diversity through race, nationality, socioeconomic status, or other factors.

American Library Association (ALA) Spectrum Scholarship

Scholarship Amount: \$5,000
Annual Deadline: March 1
Basic Eligibility Requirements: This scholarship is open to full-time or part-time students attending an ALA-accredited graduate program in library or information studies. Applicants must identify as a racial or ethnic minority, including Black/African American.

George A. Strait Minority Scholarship & Fellowship

Scholarship Amount: Varies
Annual Deadline: April 1
Basic Eligibility Requirements: This scholarship is awarded to minority students pursuing a career in law librarianship.

ELC Protecting Black Voices Graduate Scholarship

Scholarship Amount: \$10,000/year
Annual Deadline: Varies
Basic Eligibility Requirements: Applicants must be pursuing a graduate degree in political science, history, communications, journalism, media, policy, or related fields. Awards are based on community service and civic responsibility, as well as academic achievement and financial need.

Sidney B. Williams, Jr. Scholar Program

Scholarship Amount: \$30,000
Annual Deadline: March 31
Basic Eligibility Requirements: This scholarship is for underrepresented racial or ethnic minorities applying to or accepted into an American Bar Association-accredited law school, who plan to pursue a career in patent law.

Rangel Graduate Fellowship

Scholarship Amount: \$42,000
Annual Deadline: September 19
Basic Eligibility Requirements: This program prepares high-achieving graduate students for foreign service careers. Applicants can be in their senior year of undergraduate studies or be college graduates applying to a graduate program. The program encourages applications from members of minority groups historically underrepresented in the foreign service, women, and those with financial need.

STEM Scholarships for Black Students

For students pursuing careers in Science, Technology, Engineering, and Mathematics (STEM) fields, several scholarships are available:

Brown and Caldwell Minority Scholarship

Scholarship Amount: \$5,000
Annual Deadline: Varies
Basic Eligibility Requirements: This scholarship is for minority students pursuing careers in the environmental field, enrolled in an accredited graduate or undergraduate engineering or environmental sciences program, and have at least a 3.0 GPA.

American Water Works Association David Caldwell Scholarship

Scholarship Amount: \$5,000
Annual Deadline: Varies
Basic Eligibility Requirements: This scholarship, offered in partnership with Brown and Caldwell, is for graduate students enrolled in an engineering program related to the drinking water field. Applicants must be female or a member of a minority group and show a propensity for leadership and an interest in research or consulting on drinking water issues.

NCSEA Diversity in Structural Engineering Scholarship

Scholarship Amount: \$3,000
Annual Deadline: Varies
Basic Eligibility Requirements: The National Council of Structural Engineers Associations promotes structural engineering professionals from underrepresented groups, including Black/African Americans. The scholarship is awarded to an undergraduate or graduate student showing genuine interest in structural engineering or who is currently enrolled in a structural engineering program.

Stantec Equity & Diversity Scholarship

Scholarship Amount: \$1,500 to \$10,000
Annual Deadline: October
Basic Eligibility Requirements: Each year, Stantec allocates \$200,000 to use as financial aid to help students who are part of Black, Indigenous, people of color (BIPOC) groups. To apply, students must show financial need. The award amount depends on the number of scholarship awards and the extent of the financial struggle of applicants.

NSBE Scholarship

Scholarship Amount: \$3,000
Annual Deadline: January 31
Basic Eligibility Requirements: This scholarship is for members of the National Society of Black Engineers (NSBE) pursuing a STEM degree. Applicants must be U.S. citizens and pursuing a graduate degree from an accredited institution, be members of the NSBE, and have a minimum GPA of 2.5.

Medical & Healthcare Scholarships for Black Students

Several scholarships support Black students pursuing careers in medicine and healthcare:

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ACHE Albert W. Dent Graduate Student Scholarship

Scholarship Amount: \$5,000
Annual Deadline: March 31
Basic Eligibility Requirements: This scholarship is for ethnically or racially diverse students who show financial need and are enrolled in a full-time healthcare management master’s level program. Preference is given to applicants who are Student Associate members of the American College of Healthcare Executives (ACHE).

Corris Boyd Scholars Program

Scholarship Amount: \$40,000
Annual Deadline: April 1
Basic Eligibility Requirements: Applicants must be accepted into an Association of University Programs in Health Administration (AUPHA) Full Member master’s degree program as full-time students and identify as members of an ethnic or racial minority group. Award criteria also include financial need, professional aspirations, and academic achievement.

Herbert W. Nickens Medical Student Scholarships

Scholarship Amount: \$5,000
Annual Deadline: April 5
Basic Eligibility Requirements: These awards consist of five scholarships given to outstanding students entering their third year of medical school who have shown leadership in efforts to eliminate inequities in medical education and health care.

NMF Scholarship Program

Scholarship Amount: Varies
Annual Deadline: Varies
Basic Eligibility Requirements: The National Medical Fellowships organization offers a variety of scholarships for students studying healthcare. General requirements include enrollment in an accredited healthcare program at the graduate level, being a member of a racial or ethnic group that’s underrepresented in medicine, leadership ability, and an interest in serving a medically underserved community.

Business & Finance Scholarships for Black Students

For Black students interested in business and finance careers, the following scholarships are available:

Steven Skinner Endowed Scholarship Fund

Scholarship Amount: Up to \$5,000
Annual Deadline: August 15
Basic Eligibility Requirements: To be eligible, applicants must be a member of the National Black MBA Association, be a first-generation MBA or graduate student working on a business-focused degree, and have at least two years of work experience. Students must also have a minimum GPA of 3.0.

ELC Otsuka Graduate Scholarship

Scholarship Amount: \$10,000/year
Annual Deadline: Varies
Basic Eligibility Requirements: This scholarship is available to incoming or current Black undergraduate or graduate students studying in a business, engineering, or technology field. Applicants must have at least a 3.0 GPA.

Minorities in Government Finance Scholarship

Scholarship Amount: \$10,000
Annual Deadline: Varies
Basic Eligibility Requirements: This scholarship is open to minority students who show academic excellence and are enrolled in a graduate or undergraduate program preparing them for careers in local or state government finance.

Accounting-Specific Scholarships for Students of Color

To address the need for greater diversity in the accounting field, many organizations offer financial aid specifically for students of color. In addition to these scholarships, accounting students of color can benefit from any accounting-specific scholarships and scholarships open to minority learners in any major.

AICPA Scholarship for Minority Accounting Students

Scholarship Amount: \$3,000-\$10,000
Annual Deadline: March 15
Basic Eligibility Requirements: Applicants must be members of a racial minority and pursuing an undergraduate or graduate-level degree in an accounting or accounting-related major.

Clark Burrus Scholarship

Scholarship Amount: \$10,000
Deadline: TBA
Requirements: Offered by the Government Finance Officers Association, this scholarship supports minority students planning to work in state or local government finance. Applicants can be full-time or part-time graduate or upper-level undergraduate students.

American Dream Scholarship

Award: Up to \$90,000
Deadline: Oct. 30
Requirements: Offered by the Educational Foundation for Women in Accounting, this award primarily supports Black, Latina, and Indigenous American women majoring in accounting at an accredited two-year institution who plan to transfer into a four-year institution. Fellows can receive up to two years of funding.

NABA National Scholarship

Award: \$1,000-\$10,000
Deadline: April 11
Requirements: The National Association of Black Accountants grants scholarships to full-time students who are active NABA student members.

ABWA General Scholarship

Award: Up to \$5,000
Deadline: Sept. 23
Requirements: The Alliance of Black Women Accountants awards scholarships to full-time and part-time Black women in accounting. Applicants must be student members of ABWA and hold a minimum GPA of 2.75.

ETS Presidential Scholarships for HBCUs

Award: Full tuition
Deadline: March 17
Requirements: The Educational Testing Service awards scholarships to juniors and seniors attending public or private historically Black colleges and universities (HBCUs). Applicants must demonstrate financial need and leadership abilities, and the scholarship requires a minimum GPA of 3.5.

IABA Scholarships

Award: \$1,500-\$5,000
Deadline: March 31
Requirements: The International Association for Black Actuaries provides scholarships for Black college students who plan to become actuaries. The committee evaluates applicants based on their academic results, communication skills, and interest in the actuarial profession.

Financial Aid for Other Minority Groups

While this article focuses on scholarships for Black students, it's worth noting opportunities for other underrepresented groups:

Prospanica Scholarships

Award: Up to \$5,000
Deadline: April 6
Requirements: Offered by the Association of Hispanic MBAs and Business Professionals, this scholarship supports undergraduate and graduate students earning a business degree, including in accounting. Applicants must have a Prospanica membership.

HSF Scholar Program

Award: \$500-\$5,000
Deadline: Feb. 15
Requirements: The Hispanic Scholarship Fund names 10,000 students as HSF scholars annually. Full-time undergraduate and graduate students of all races who identify as being of Hispanic heritage qualify with a minimum GPA of 2.5.

OLA Scholarships

Requirements: Offered by the Organization of Latino Actuaries, this award encourages Latino/a students to consider the actuarial profession.

Matt Fong AAPF Scholarship

Award: \$5,000
Deadline: April 21
Requirements: This Asian Americans in Public Finance Scholarship supports full-time undergrads attending a four-year institution in California. Applicants should major in accounting or a related field, have at least 50% Asian heritage, and have a minimum GPA of 3.0.

Upakar Scholarship

Award: Up to \$5,000
Deadline: June 30
Requirements: Students born in India or who have one parent born in India can apply for this scholarship. Applicants must be majoring in a STEM field or business administration, including accounting, and hold a minimum GPA of 3.5.

Native Forward Scholars

Requirements: The Native Forward scholars program provides multiple funding opportunities, including for accounting students. Applicants must be an enrolled member or descendant of a recognized American Indian Tribe or Alaska Native group. The program also requires proof of financial need.

AICF Scholarships

Award: Varies
Deadline: May 31
Requirements: The American Indian College Fund awards scholarships to cover the cost of certificate, undergraduate, and graduate programs. Applicants must be an enrolled member of a federally or state-recognized tribe or a descendant of an enrolled member.

Navajo Nation Investment Committee Finance and Accounting Scholarship

Requirements: Navajo students studying accounting or a closely related field qualify for this scholarship. Both undergraduate and graduate students qualify. Applicants must be enrolled members of the Navajo Nation with a minimum GPA of 3.0. Scholarship awards are based on academic achievement rather than financial need.

Additional Scholarship Opportunities

Beyond the scholarships listed above, several other awards may be relevant:

Psi Chi Graduate Scholarships

Scholarship Amount: \$3,000
Annual Deadline: July
Basic Eligibility Requirements: Awarded by the International Honor Society in Psychology, these scholarships help defray the direct educational costs of exceptional Psi Chi students who are women of color attending graduate school.

NYWICI Scholarships

Scholarship Amount: \$2,500 to \$10,000
Annual Deadline: Feb. 28
Basic Eligibility Requirements: New York Women in Communications offers scholarships to students pursuing a career in communication. Applicants must reside in New York, New Jersey, Connecticut, or Pennsylvania (or live in a different state but go to school in New York) and be a high school senior or full-time undergraduate or graduate student majoring in the field of communications.

Helene M. Overly Memorial Graduate Scholarship

Scholarship Amount: \$10,000
Annual Deadline: Varies
Basic Eligibility Requirements: Awarded by the WTS Foundation, this scholarship is open to any female graduate student in any field related to transportation. Minority students are encouraged to apply. Awards are primarily based on academic achievement and demonstrated interest in the transportation industry.

Brown & Caldwell Women in Leadership Scholarship

Scholarship Amount: \$5,000
Annual Deadline: March
Basic Eligibility Requirements: Female students enrolled in a full-time graduate program may apply. Applicants must be studying in a field such as environmental science or an engineering field related to the environment. Preferential treatment is given to students who excel academically and show leadership qualities.

Jacobs Holly A. Cornell Scholarship

Scholarship Amount: \$10,000
Annual Deadline: December
Basic Eligibility Requirements: In conjunction with the American Water Works Association, this scholarship is for applicants identifying as female or who are a minority pursuing a graduate degree in the area of water supply and treatment.

Minority Corporate Counsel Association LMJ Scholarship Program

Scholarship Amount: \$10,000
Annual Deadline: May 1
Basic Eligibility Requirements: Applicants must be accepted to an ABA-accredited law school as a full-time student and be female or diverse. Applicants must also show a commitment to improving diversity and inclusion and a desire to work in corporate law.

Thurgood Marshall College Fund | Deloitte Foundation HBCU Accounting Scholarship Program

This program offers financial assistance to outstanding accounting students attending Historically Black Colleges and Universities (HBCUs). Current high school seniors, undergraduate first-year students, sophomores, or community college transfer students pursuing an accounting degree at an HBCU are eligible to apply.

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Deloitte Foundation Accounting Scholars Program

Over the next several years, the Deloitte Foundation expects to fund \$25 million in scholarships for students, including students interested in pursuing a fifth-year master’s degree in accounting, master’s in taxation or master’s in accounting with a concentration in audit, advisory, or tax. In the spirit of supporting a diverse student population and to strengthen the pipeline of diverse talent entering the CPA profession, the Deloitte Foundation and participating universities will provide the Deloitte Foundation Accounting Scholars a scholarship that covers 100% of their tuition (excluding books and living expenses) for the academic year.

AICPA Scholarship for Black and African American Accounting Students in Minneapolis and St. Paul, Minnesota

The AICPA is providing four Black and/or African American accounting students (attending college/university in Minneapolis or St. Paul) each with \$5,000 to be used towards education related expenses.

Tips for a Successful Scholarship Application

Most scholarships are competitive, so it's important to make your application stand out. Here are some tips:

Strengthen Extracurricular Activities: Extracurriculars demonstrate your interest in your field and that you are a well-rounded student.
Secure Strong Letters of Recommendation: A recommender who can provide specific examples of your qualities and abilities can significantly enhance your application.
Craft a Compelling Essay: This is your opportunity to showcase your personality, goals, and passion for accounting.

Finding Scholarships for Accounting Students of Color

Accounting.com is committed to delivering content that is objective and actionable. To that end, we have built a network of industry professionals across higher education to review our content and ensure we are providing the most helpful information to our readers.
Explore financial aid opportunities offered by reputable organizations, including local and national accounting corporations, government agencies, and colleges. Your accounting department can help you identify additional scholarship opportunities.

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Use online scholarship search platforms.
Contact the financial aid office at your college or university.
Network with professionals in the accounting field.

Tips for Applying for Accounting Scholarships

Review Eligibility Requirements: Before applying for scholarships, review the eligibility requirements, submission materials, and deadlines closely.
Apply Early: Submit applications well before the deadline.
Follow Instructions: Ensure all required materials are included and formatted correctly.
Proofread: Carefully proofread your application for any errors.

How to Stand Out on Your Application

Scholarship committees generally look for unique students they think will best advance or promote the goals of the scholarship. They are also looking for a complete application. Many otherwise top-notch applications never get seriously considered because they’re missing a simple requirement.

Highlight Your Strengths: Focus on your academic achievements, leadership skills, and community involvement.
Showcase Your Passion: Demonstrate your enthusiasm for accounting and your commitment to your career goals.
Tell Your Story: Share your personal experiences and how they have shaped your aspirations.

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