Business Scholarship Guide

Need money for business school? Many business schools offer an array of student scholarships and student bursaries for Bachelor of Commerce (BCom) or Bachelor of Business Administration (BBA) studies or diploma studies. Awards typically range in value from $250 - $5,000, but may go as high as $16,000 over the course of the four-year degree. These awards are often renewable and are based on outstanding academic achievement or a combination of outstanding academic achievement and leadership qualities. As well, business students may be eligible for bursaries, which typically are based on financial need. Government student loans and grants and commercial bank loans may also be available, and work-study programs (involving part-time work on campus for full-time students) are another source of money for school.

Student Scholarships and Student Bursaries
Entrance scholarships for students entering Bachelor of Commerce (BCom) or Bachelor of Business Administration (BBA) programs or diploma programs from high school and other post-secondary institutions are typically awarded to outstanding new students. Bursaries are available to students and are more typically based on a combination of academic achievement and financial need and/or achievement in other areas such as leadership and community service. These awards may be offered by high schools, university and college business schools, professional organizations, local businesses and national chains, and charitable foundations. They may be available on a non-renewable or renewable basis.

Start your search by talking to your high school career counsellor to learn what kinds of scholarships and bursaries are available for your particular business interest. Often high schools will offer awards to the best students or those most involved in club activities, which could include business-, entrepreneurship- and economics-oriented clubs.

Most business schools offer entrance awards either directly or through benefactors and foundations that support them. You can contact an admissions advisor at the school or look on the school’s or program department’s website to identify the awards that are offered. Some scholarships and bursaries are program-specific and are limited to applicants to particular majors or diplomas within a business school.

Many local businesses and national chains--and don’t forget your parents’ employers!--will offer some kind of funding, either in the form of scholarships or bursaries. These businesses offer awards as a way of showing their support for the local community, so don’t overlook this opportunity.

And don’t forget community groups in your home-town that are involved in the business of supporting business students (e.g., the Chamber of Commerce, Tourism Association, Business Development Association).

Many professional organizations will provide scholarships as a way of promoting their profession and ensuring the development of future business professionals. These could include accounting, advertising, economics, finance, marketing, public relations, and more!

And finally, there are a variety of charitable organizations that provide literally millions of dollars of awards to post-secondary students, from local to national.

Student Loans and Grants
Student loans and grants are other types of financial aid and are available to both students and parents. Often payments do not begin until the student finishes the program, and the interest rate is commonly lower than for other types of loans. For students with no established credit record, it is usually easier to get student loans than other kinds of loans. You can obtain information on the Canada Student Loans Program from your high school career counsellor or the university’s or college’s student services or financial aid department. As well, each province has a program that offers financial assistance to students.