What Types of Financial Aid Are Available for Accounting Programs?

If you would like to pursue a degree in accounting, you might wonder whether or not you will be able to find financial aid for accounting programs. The good news is that many different types of financial aid are available for accounting students. According to the National Center for Education Statistics, in the 2011-12 school year, 85 percent of all full-time undergraduate students received financial aid of some sort. Available aid includes federal aid by way of grants and student loans as well as private funds, and many scholarships are provided specifically to students pursuing degrees in accounting.

Federal Aid

Everyone planning to enroll in higher education should fill out a FAFSA (Free Application for Federal Student Aid) form. This form will tell you whether or not you qualify for loans and grants from the federal government, and you won’t be required to take out a student loan just because you qualify. Don’t worry about whether or not you will qualify. You don’t know unless you apply, and the large majority of students do. Keep in mind that federal aid includes Pell Grants and work study benefits, as well as loans, and these types of aid are preferable to loans as they do not require repayment.

Private Funds

Private funds for your accounting program can come from many different places. Many institutions of higher learning provide academic, sports or music scholarships for any degree obtained at their school based on past performance. Some universities provide scholarships specifically to their accounting majors. Many accounting firms and organizations also offer scholarships for accounting students.

Some scholarship funds for accounting students are offered only to individuals from certain ethnic groups or who meet other specific criteria in addition to their academic prowess. You aren’t going to qualify for every scholarship, but apply for as many as possible in order to increase your chances at getting scholarships to pay for your schooling.

Private grants are another great source of financial aid for accounting programs. Grants, unlike scholarships, are given based on something other than academic achievement or outstanding performance in the arts or other extra-curricular activities. Common grants for those choosing a degree in accounting include grants for women, grants for Native Americans and other racial groups, and grants for military families.

Don’t become overwhelmed in your search for financial aid. Many different options exist, so apply to as many as possible. You can learn more from your high school guidance counselor, your college’s financial aid office, and online searches. When doing an online search, use a variety of different search terms combined with “accounting” in order to find programs for which you may qualify.

Paying for a college education can be difficult. However, there are many programs available to help students pay for school. Use these tips as you begin your quest to find financial aid for accounting programs. The more funding sources you locate, the better chance you will have of being able to pay for your schooling.

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