Scholarships for Economics Majors: A Comprehensive Guide
Economics is a dynamic field that examines the production, distribution, and consumption of goods and services in various economies around the world. As an economics student, you’ll learn how to analyze and interpret data, study economic systems and policies, and develop critical thinking and problem-solving skills. Financing higher education can be a significant concern for many students. Fortunately, numerous scholarships are available to economics majors, offered by universities, private organizations, and foundations. This article provides a detailed overview of scholarships for economics majors, outlining eligibility requirements, application processes, and specific examples.
University-Based Scholarships
Many universities offer scholarships specifically for their economics majors. These scholarships often consider academic achievement, financial need, and other criteria such as residency or specific interests within the field of economics.
University of Maryland
The Department of Economics at the University of Maryland offers several scholarships for current undergraduate Economics majors. Applications typically open during the spring semester each year, with scholarship awards granted one time for the following fall semester. It's important to note that applications for the '25-26 academic year are closed, but applications for the '26-27 academic year will be available through Scholarship Universe during the Spring 2026 semester. Here are some of the scholarships offered:
- The Kenneth L. Bupp Scholarship: Endowed by Kenneth L. Bupp, an Economics alumnus, this scholarship is awarded to Economics majors based upon academic achievement in their major and financial need. One recipient will be selected, and the monetary award is $2,250.
- The Rupa Duttagupta Scholarship: Established by Rupa Duttagupta, this scholarship is awarded to Economics majors based upon academic achievement in their major and financial need. One recipient will be selected, and the monetary award is $1,500.
- The Melanie E. Easley Scholarship: Endowed by the family and friends of 2001 alumna, Melanie Lee Easley, in her memory, this scholarship is awarded to Economics majors based upon academic achievement in their major and financial need. One recipient will be selected, and the monetary award is $4,500.
- The Idamae Garrott Scholarship: Awarded in memory of Mrs. Idamae Garrott, this scholarship is endowed by her family to be awarded to Economics majors based upon academic achievement in their major and financial need. One recipient will be selected, and the monetary award is $1,000.
- The Peggy Rae Sapienza Scholarship: Established by Peggy Rae Sapienza, a UMD alumna, along with her husband John, this scholarship helps facilitate the education of a hardworking junior or senior student and encourage them toward graduation. The recipient must be doing something to help finance their college education, such as part-time employment. One recipient will be selected, and the monetary award is $10,000 - awarded in two installments of $5,000 each for fall and spring semesters.
- The Mark C. Sullivan Scholarship: Endowed by Mr. Mark C. Sullivan, an Economics alumnus, this scholarship is awarded to Economics majors of high academic achievement with preference given to residents/high school graduates from Maryland’s Eastern Shore (Cecil, Kent, Queen Anne’s, Caroline, Talbot, Dorchester, Wicomico, Worcester, and Somerset Counties). The recipient must be a US citizen. One recipient will be selected, and the monetary award is $4,500.
- The Mark D. and Tracye C. Turner Scholarship: Endowed by Mark D. Turner, an Economics alumnus, this scholarship is awarded to Economics majors who are involved in volunteer activities and/or leadership roles to assist minorities and intend to utilize their degree to continue assisting minority communities. One recipient will be selected, and the monetary award is $2,500.
In addition to these specific scholarships, the College of Behavioral and Social Sciences (BSOS) at the University of Maryland offers a variety of scholarships, fellowships, and experience funds to academically talented and engaged students. BSOS students with financial need that is preventing them from taking advantage of an experiential learning opportunity, such as an unpaid internship, research, service-learning, or professional or academic conferences may apply for the BSOS Undergraduate Experience Funds.
For more information about applying and receiving both merit and need-based financial aid and scholarships, students can contact the Office of Student Financial Aid. The Division of Student Affairs also offers funds that provide emergency assistance for students in crisis and in need. Questions regarding the application process can be directed to the Undergraduate Program Coordinator.
Read also: Camp Scholarships Guide
University of Oregon
The Economics Department at the University of Oregon offers several scholarships each year, with the application form typically open from late February through late March. The scholarships are awarded in the following fall/spring semester. To be eligible, you must be enrolled as an Economics BA or Economics BBA major during the semester(s) the scholarship(s) disperse. Here are some of the scholarships offered:
- Grace Miller Economics Scholarship: This scholarship is intended for students interested in teaching economics after completing their degree at UO. Recipients may use the award for tuition, textbooks, living costs, and any other educational expenses. Selection is based on demonstrating an interest in teaching economics at the high school or college level and being an Oregon resident and an economics major. Special consideration may be made to women, those from underrepresented communities, and those at financial disadvantage; however, all are encouraged to apply. The award is up to $2,500. To apply, submit the scholarship application and a cover letter explaining your suitability for the award.
- Alanson H. Kleinsorge Economics Scholarship: This scholarship serves students who have faced and overcome academic challenges earlier in their careers. The award will be applied to UO tuition and school fees. To apply, submit the scholarship application and a cover letter explaining your suitability for the award.
- H. T. Koplin Economics Scholarship: This scholarship is awarded to a student majoring in economics who demonstrates outstanding academic achievement. The awarded funds may be put toward tuition, textbooks, living costs, and any other educational expenses. Students are chosen based on earning a 3.6 GPA or higher with the bulk of their coursework (75% or more) completed at UO, demonstrating financial need as determined by the University of Oregon Office of Student Financial Aid, and being an Oregon resident and an economics major. The award is up to $3,000. To apply, submit the scholarship application and a cover letter explaining your suitability for the award.
- Mitchell S. Wright Scholarship: This scholarship is intended for students majoring in economics who are in need of financial assistance. The awarded funds may be used for tuition, textbooks, living costs, and any other educational expenses. Students will be chosen based on being an economics major of junior or senior standing and demonstrating financial need, as determined by the Office of Student Financial Aid and Scholarships. Special consideration may be given to students who come from out of state, and therefore have higher tuition fees; however, all are encouraged to apply. The award is up to $5,000. To apply, submit the scholarship application and a cover letter explaining your suitability for the award.
- Cheryl and John Benson Scholarship: This scholarship is awarded to either undergraduate or graduate students in Economics. The awarded funds may be put toward tuition, textbooks, living costs and any other educational expenses. Preference is given to students who demonstrate financial need as determined by the University of Oregon Office of Financial Aid and must be an economics major of junior or senior standing. The award is up to $1,000. To apply, submit the scholarship application and a cover letter explaining your suitability for the award.
For general University of Oregon scholarship information, students can visit the Office of Student Financial Aid and Scholarships.
Ohio State University
Ohio State University offers a variety of scholarships for economics majors through ScholarshipUniverse, a scholarship matching tool that connects applicants and current students to thousands of internal and external scholarship opportunities. ScholarshipUniverse integrates data from the admission application, student records, and self-reported information to connect students with scholarship opportunities. Here are some of the scholarships offered:
- Robert Christopher and Angela R. Marshall Scholarship: Provides one or more scholarships to undergraduate students who are majoring in economics. Students need to have ECON declared as a major, a competitive GPA, and financial need. The department awards 8 to 12 students with a scholarship amount of $500.
- Robert Christopher and Angela R. Marshall Scarlet and Gray Advantage Scholarship: Provides one or more scholarships to undergraduate students who meet specific criteria, including a minimum 3.0 GPA and demonstrated financial need. Preference is given to candidates who graduated from a high school in Newark, Ohio, Licking County, Ohio, or Ohio. The department awards 1 to 2 students with a scholarship amount of $4,000-$8,000, distributed over the academic year.
- Economics Alumni Scholarship Fund: Acknowledges top-performing economics majors who have ECON declared as a major, a competitive GPA, financial need, and are returning the following year. The department awards 8 to 12 students with a scholarship amount of $500.
- Harold A. Black Scholarship: Provides a scholarship to an undergraduate economics student with the potential for graduate work. Special consideration is given to students who have overcome substantial educational or economic obstacles. Students need to have ECON declared as a major, a competitive GPA, and financial need. Graduating seniors are eligible. The department awards 1 to 2 students with a scholarship between $1,000-$2,000.
- Keith and Linda Monda Scholarship: Provides one or more renewable merit and need-based scholarships for undergraduate students who are Ohio residents. Recipients must be enrolled in the College of Arts & Sciences Honors Program, with preference to majors in economics. Students need to have ECON declared as a major, be enrolled in the College of Arts & Sciences Honors Program, be a permanent resident of Ohio, have a competitive GPA, and possess financial need. The department awards 1 to 2 students with a scholarship between $3,000 to $5,000.
- Michael O’Shaughnessy Economics Scholarship: Acknowledges economics majors who are high-potential business-minded students. Students need to have ECON declared as a major, have a business major or minor declared, and have a competitive GPA. The department awards 2 to 3 students with a scholarship between $2,000 to $5,000.
- R. L. Steiner Paper Award in Economics: Provides a scholarship to an undergraduate student who submits the best paper containing economic content. Original research is encouraged but not required. The department awards one student with a scholarship of $5,000.
- Economics First Generation Scholarship Fund: Provides awards to undergraduate first-generation students with demonstrated financial need. Students need to have ECON declared as a major and have financial need. Graduating seniors are eligible. The department awards one student with a scholarship of $2,500.
- William Green Memorial Scholarship: Acknowledges economics majors with backgrounds, studies, or career interests relevant to working people. Students need to have ECON declared as a major and possess a competitive GPA. The department awards 2 to 4 students with a scholarship between $3,000 to $7,000.
To apply for these scholarships, students should log in to osu.scholarshipuniverse.com using their Ohio State username and password and complete their profile.
External Scholarships and Awards
In addition to university-specific scholarships, several external scholarships and awards are available to economics majors. These scholarships are often offered by private organizations, foundations, and professional associations.
Read also: Benefits of NSHSS Scholarships
- Scholarships360 "No Essay" Scholarship: Scholarships360 offers a $10,000 "No Essay" Scholarship open to all students who want some extra help paying for their education. This scholarship will be awarded to students who get the most out of Scholarships360 scholarships and content.
- iContact Foundation Scholarship Program: The iContact Foundation Scholarship Program promotes educational advancement by offering competitive scholarship opportunities for the children of current and former iContact employees and any person living in Chatham, Durham, Orange, or Wake County and majoring in computer science, business or entrepreneurship, economics, or marketing and communications. The scholarship may be used towards any need listed under the school’s total cost of attendance.
- Massachusetts High Demand Scholarship: The Massachusetts High Demand Scholarship awards up to $8,750 and up to $17,500 per year, respectively, to Massachusetts residents enrolled part-time and full-time in Massachusetts public colleges. Applicants must be studying an eligible "high demand" discipline, including Economics.
- Betty Jo Harker Professional Development Scholarship: This scholarship is open to part-time graduate students who have worked for at least two years in state/local government finance and plan to continue doing so.
- Clark Burrus Public Service Academic Scholarship: This scholarship is open to minority, upper-level undergraduates and graduate students who are pursuing a career in government finance. The scholarship awards $10,000 to one minority student.
- Fintech Scholarship: This scholarship awards between $2,500 and $10,000 to multiple minority, high-achieving students interested in advancing the world of financial technology by pursuing a degree in a related field.
- Davidson Fellows Scholarship: The Davidson Fellows Scholarship is awarded to gifted and high-achieving students, 18 years old or younger, who have completed a significant project or body of work. The award can reach up to $100,000.
Other Scholarship Opportunities
- Fulbright Canada Research Chairs: Fulbright Canada and Carleton University have established dedicated research chairs in support of educational programming and research. Fulbright Canada also offers the "Fulbright-Scotland Distinguished Scholar at the Glasgow School of Art" Award and the "Postdoctoral Research Award."
- McCoy Scholar of Distinction Award: This award is for high school seniors planning to major in business at Texas State University. Selections are made based on academic achievement.
- Monthly Scholarships: Sallie Mae awards $2,000 each month to eligible entrants, and SoFi is giving away $2,500 for school every month.
- Niche $50,000 No Essay Scholarship: Niche offers a $50,000 No Essay Scholarship with the winner selected by random drawing.
- Fulbright Distinguished Chairs: The Fulbright Program offers several distinguished chair positions in various countries, including the "Fulbright-Hanken Distinguished Chair in Business and Economics" (Finland), the Fulbright Distinguished Chair in Arts, Humanities and Social Sciences (The Australian National University), the "Distinguished Scholar in Humanities and Social Sciences" (American Studies Center, University of Warsaw), the "Fulbright-Czech Technical University Distinguished Scholar," the “Fulbright-National Science Foundation Distinguished Scholar Award” (Iceland), and the "Fulbright Bicentennial Chair in American Studies" (Finland).
General Scholarship Search Resources
To find even more scholarships for economics majors, students can utilize online scholarship search platforms such as Scholarships.com, Scholarships360, and ScholarshipUniverse. These platforms allow students to create profiles, search for scholarships based on their qualifications and interests, and access application information.
Tips for Scholarship Applications
Applying for scholarships can be a competitive process. Here are some tips to increase your chances of success:
- Meet the Eligibility Requirements: Carefully review the eligibility requirements for each scholarship before applying. Make sure you meet all the criteria, such as GPA, major, residency, and financial need.
- Craft a Compelling Essay: Many scholarships require applicants to write an essay. Use this opportunity to showcase your passion for economics, your academic achievements, and your future goals. Be sure to address the essay prompt directly and provide specific examples to support your claims.
- Obtain Strong Letters of Recommendation: Request letters of recommendation from professors, advisors, or mentors who know you well and can speak to your academic abilities, work ethic, and character. Provide them with ample time to write a thoughtful and personalized letter.
- Highlight Your Achievements: In your application, highlight your academic achievements, extracurricular activities, volunteer experiences, and any other accomplishments that demonstrate your skills and potential.
- Proofread Your Application: Before submitting your application, carefully proofread it for any errors in grammar, spelling, or punctuation. Ask a friend or family member to review it as well.
- Submit Your Application on Time: Pay close attention to the application deadlines and submit your application well in advance. Late applications are typically not considered.
- Complete the FAFSA: Some scholarship applications require disclosure of financial need through completion of the Free Application for Federal Student Aid (FAFSA). Submit your FAFSA prior to applying.
Read also: Scholarship Guide
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