Scholarships for economics majors can significantly lower the tuition costs for studying market trends about the distribution of goods and services.
Many organizations have reserved money to support college students interested in analyzing monetary matters. Picking an economics major leads to various job options because knowledge of economic and statistical models used in business is marketable. Economics graduates are hired as data analysts, market researchers, financial managers, actuaries, pricing analysts, stockbrokers, and more. Those who earn a master’s or PhD can become economists in the private, government, and nonprofit sector.
The Bureau of Labor Statistics projects that jobs for economists will grow by 6 percent through 2024. Research these 20 great scholarships to promote your versatile education in economics.
Reviewing the Top Scholarships for Economics Majors
1. AIET Undergraduate Scholarships
Deadline: April 15th
Each year, the Appraisal Institute Education Trust (AIET) awards $1,000 scholarships to full-time or part-time undergraduate students who exhibit academic excellence in studying real estate, appraisal, economics, land economics, or allied majors. Qualified candidates must have completed at least 24 college credits, attend an accredited U.S. college, maintain a minimum 3.0 GPA, be pursuing an associate or bachelor’s degree, and display potential for contributing to the real estate industry.
AIET Undergraduate Scholarships
200 West Madison Avenue
Chicago, IL 60606
2. Betty Rendel Scholarship Fund
Deadline: June 1st
Created by the National Federation of Republican Women in 1995, the Betty Rendel Scholarship Fund provides three $1,000 scholarships for economics degrees as well as political science and government majors. Eligible female students must be U.S. citizens, have attained junior or senior standing, attend an accredited institution for a bachelor’s degree, and exhibit academic merit. Applications must be sent to State Federation Presidents with three letters of recommendation and one-page typed essays.
Betty Rendel Scholarship Fund
124 North Alfred Street
Alexandria, VA 22314
3. David M. Rubenstein Scholarship
Deadline: April 29th
The Economic Club of Washington, DC sponsors the David M. Rubenstein Scholarship Program to gift nearly 50 annual scholarships of $10,000 apiece to seniors graduating from the District of Columbia’s participating public and private high schools. Eligible applicants must be accepted into accredited, degree-granting colleges, have U.S. citizenship or lawful residency, and showcase academic achievement. Though not required, preference is given to economics, finance, accounting, and business majors.
David M. Rubenstein Scholarship
1156 15th Street NW Suite 601
Washington, DC 20005
4. Ed Johnson Memorial Scholarship
Deadline: February 1st
Among the National FFA Foundation’s 1,800+ scholarships is the Ed Johnson Memorial Scholarship, which grants $1,000 to Ohio residents who are pursuing four-year bachelor’s degrees in business, economics, finance, marketing, or sales. Qualified recipients must have chosen The Ohio State University, carry a minimum cumulative GPA of 3.0, exhibit strong leadership ability, participate in community service, and have career goals in agriculture. Other scholarships for economics degrees include the DuPont Pioneer Award and CSX Scholarship.
Ed Johnson Memorial Scholarship
6060 FFA Drive
Indianapolis, IN 46268
5. HAND Research Foundation Scholarship
Deadline: April 1st
Valued at $30,000 per year, the HAND Research Foundation Scholarship is presented to Persian-speaking doctoral candidates who are pursuing a PhD in Economics and devoting their dissertation research to advancing Iran’s economy. Eligible students must be admitted full-time to participating U.S. universities, including Harvard, Stanford, Northwestern, Columbia, and UC Berkeley. Scholarship selection is based upon academic merit, research competence, financial need, and letters of recommendation.
HAND Research Foundation Scholarship
855 El Camino Real Suite 250
Palo Alto, CA 94301
6. Hsiao Memorial Economics Scholarship
Deadline: February 19th
To honor a beloved economics professor at Indiana State University, the Asian Pacific Fund established the Hsiao Memorial Economics Scholarship for graduate students of at least 50 percent Asian heritage, preferably Chinese. For the $1,000 non-renewable award, candidates must attend an accredited American college, major in economics, maintain a 3.0 GPA or better, demonstrate financial need, be pursuing a career in academia, and conduct research that benefits the Asian community.
Hsiao Memorial Economics Scholarship
465 California Street Suite 809
San Francisco, CA 94104
7. Irene M. Meyer Memorial Scholarship
Deadline: May 1st
Named for an active Central District Director with 40+ years of service, the Phi Chi Theta Fraternity’s Irene M. Meyer Memorial Scholarship presents $1,000 each year to national members in good standing. Interested applicants must be attending U.S. colleges full-time as at least sophomores for a bachelor’s or graduate degree in business or economics. Application requirements include an official transcript, course schedule, resume, personal essay, and two recommendation letters.
Irene M. Meyer Memorial Scholarship
633 Clark Street
Evanston, IL 60208
8. James C. Hickman Scholar Award
Deadline: February 15th
The Society of Actuaries (SOA) distributes the James C. Hickman Scholar Award for $20,000 annually to full-time graduate students entering a doctoral program for actuarial science, economics, risk management, financial economics, or related fields. Qualified applicants must attend an accredited U.S. or Canadian institution, hold SOA associateship, have passed at least two actuarial exams, and intend to pursue teaching or research careers in academia.
James C. Hickman Scholar Award
475 North Martingale Road Suite 600
Schaumburg, IL 60173
9. Japan-IMF Scholarship Program
Deadline: January 31st
Administered by the Institute of International Education, the Japan-IMF Scholarship Program provides up to seven full-tuition awards to Japanese citizens who are pursuing PhD degrees in macroeconomics, finance, international economics, econometrics, and related majors abroad, including the United States. Eligible fellows must be under 34 years old, starting their first or second year of PhD study, and committed to becoming an economist. Recipients also earn a 10-week paid internship with the International Monetary Fund.
Japan-IMF Scholarship Program
700 19th Street NW
Washington, DC 20431
10. Joseph K. Heyman Scholarship
Deadline: October 31st
Founded in 1992, the Joseph K. Heyman Scholarship awards $1,000 annually from the Atlanta Economics Club to honor the AEC’s first president. To apply, undergraduate or graduate students must show outstanding achievement in studying economics at any Atlanta Metro university, including Emory, Georgia State, Oglethorpe, Morehouse, and Georgia Tech. Eligible entrants must submit a resume, one faculty letter of recommendation, and a typed, one-page essay describing their career aspirations in economics.
Joseph K. Heyman Scholarship
1601 Maple Street
Carrollton, GA 30118
11. Lazarian Graduate Scholarship
Deadline: April 1st
The Armenian Relief Society (ARS) awards one Lazarian Graduate Scholarship each year for $1,000 to master’s or doctoral students of Armenian descent who are pursuing degrees in public service, economics, business, political science, history, international relations, or similar fields. Eligibility criteria requires having unmet financial need, already holding a bachelor’s degree, attending an accredited U.S. university, and being involved in the Armenian community.
Lazarian Graduate Scholarship
80 Bigelow Avenue Suite 200
Watertown, MA 02472
12. Mas Family Scholarship Award
Deadline: January 19th
Started by the Jorge Mas Canosa Freedom Foundation, the Mas Family Scholarship Award grants $32,000 over four years to high school seniors or college freshmen of Cuban descent who are studying business, economics, communications, journalism, or international relations. Qualifying for one of the most profitable scholarships for economics degrees will require achieving a minimum 3.5 GPA, having significant financial need, being a leader, and showing potential for advancing a free society.
Mas Family Scholarship Award
P.O. Box 14-1898
Coral Gables, FL 33114
13. Mid-Atlantic STA Foundation Scholarship
Deadline: April 30th
The Mid-Atlantic Security Traders Association Foundation provides one $2,500 scholarship in Maryland, Washington DC, and Virginia each year to undergraduates who are pursuing business administration majors in finance or economics. Eligible sophomores and juniors must be U.S. citizens, attend an accredited nonprofit college, be actively involved in extra-curricular activities, maintain good academic standing, and write a 500-word essay discussing how the securities market impacts daily living.
Mid-Atlantic STA Foundation Scholarship
1900 Glenroths Drive
Abington, MD 21009
14. Mike Molino RV Learning Center Scholarship
Deadline: June 30th
The National RV Dealers Association offers the $2,500 Mike Molino RV Learning Center Scholarship annually to rising sophomores, juniors, and seniors who are working diligently towards a bachelor’s degree for business, finance, economics, or accounting. Judges look for applicants who carry a minimum 2.8 GPA, have scored at least 1575 on the SAT, attend an accredited four-year college, demonstrate financial need, and communicate career goals in the RV business.
Mike Molino RV Learning Center Scholarship
3930 University Drive
Fairfax, VA 22030
15. NCITD International Trade Scholarships
Deadline: May 31st
Awarding at least $1,000, the National Council on International Trade Development scholarships are granted to junior, senior, and graduate students who are building careers in international trade at accredited four-year U.S. universities. Acceptable majors include political science, economics, international business, finance, and global relations. Qualified recipients should be NCITD members, possess a cumulative “B” average or better, and submit one sponsoring letter of recommendation.
NCITD International Trade Scholarships
1901 Pennsylvania Avenue NW
Washington, DC 20006
16. Paul S. Mills Scholarship Program
Deadline: March 30th
The Paul S. Mills Scholarship Program is hosted annually by the Foundation for Financial Service Professionals (FSP) to provide three to six $1,000 scholarships for economics degrees as well as finance, accounting, actuarial science, or risk management majors. Eligible students must maintain full-time or part-time enrollment, have U.S. citizenship or permanent residency, have financial need for a bachelor’s degree, and exhibit genuine interest in financial services.
Paul S. Mills Scholarship Program
3803 West Chester Pike
Newtown Square, PA 19073
(800) 927-2427 ext. 2536
17. Roger Collins Leadership Scholarship
Deadline: June 15th
Funded by the National Grocers Association (NGA), the Roger Collins Leadership Scholarship bestows $1,000 to $1,500 each year to rising juniors, seniors, and graduate students who are enrolled full-time in degree-granting programs for business administration, including economics. To qualify, applicants must attend a U.S. college, maintain a 2.5 GPA or higher, demonstrate leadership ability, have work experience in supermarkets, and intend to join the food retailing industry post-graduation.
Roger Collins Leadership Scholarship
1005 North Glebe Road Suite 250
Arlington, VA 22201
18. Sena Eken Schieber Economics Award
Deadline: March 14th
Women from Turkey should apply for the Sena Eken Schieber Economics Award from the Turkish Philanthropy Fund (TPF) to receive up to $25,000 for earning a master’s or PhD degree in economics at an accredited United States graduate school. Eligible ladies must have completed an undergraduate degree in Turkey, plan to enroll full-time, have unmet financial need, successfully pass the TOEFL, and submit three references. Participating economics schools include Cornell, Duke, Georgetown, Harvard, and Johns Hopkins.
Sena Eken Schieber Economics Award
216 East 45th Street
New York, NY 10017
19. The Kaplan Group Annual Scholarship
Deadline: July 17th
The Kaplan Group Annual Scholarship offers $1,000 to deserving undergraduate or graduate students who are attending accredited two- and four-year U.S. colleges to complete business-oriented majors, such as finance, economics, accounting, or entrepreneurship. Selected recipients must be American citizens or legal residents, have a minimum 2.5 GPA, display excellent business leadership potential, complete a short survey, and submit two, 600-word essay responses.
The Kaplan Group Annual Scholarship
2250 King Court Suite 50
San Luis Obispo, CA 93401
20. Xero Accounting Software Scholarships
Deadline: September 30th
As a cloud-based software company, Xero Accounting Software offers biannual scholarships that provide $5,000 to legal U.S. residents who are pursuing bachelor’s or master’s degrees in accounting, economics, and finance. Qualified applicants must be enrolled full-time at an accredited business school in the United States with a cumulative above 3.0. Sixty percent of the selection decision is based upon students’ 500-700 essay describing the role of technology in their chosen financial industry.
Xero Accounting Software Scholarships
101 Green Street 5th Floor
San Francisco, CA 94111
According to Kiplinger’s Personal Finance magazine, economics is the fourth most valuable college major. The Big Data Boom has created a lucrative market for economics students to apply their analytical, mathematical, and critical thinking skills. On average, economics graduates snag a starting salary of $51,400. Mid-career salary potential is $97,700 for an excellent return on investment. However, you’ll first need to afford at least a bachelor’s degree. Cash in on these scholarships for economics majors to make your business goals more affordable.
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