How an Honor Society Can Help You Get Business Major Scholarships

In 2017, The College Board reported that the average tuition for business-focused undergraduates was $9,000. That number doesn't cover the cost of a Master of Business Administration (MBA), which costs on average $40,000.

You likely didn't need us to tell you that college is expensive. You already knew it and we want to help. Business major scholarships are available to Honor Society members.

Here's everything you need from how to get involved and how to cinch a scholarship.

What Is an Honor Society?

Honor societies have been around for over 200 years. They are designed to unite achievers in a common goal of enabling success for future generations.

There are a lot of perks that come with partaking in an Honor Society. There's national recognition, career services, and, of course, scholarships.

Honor societies are selective in who they offer membership, for the sole reason that they want the best of the best.

How Do Honor Societies Provide Scholarships?

Honor Societies secure scholarships in a variety of ways. The first and primary way is through donations. Donations come from past members wanting to give back, as well as from others who have to understand the value that further education brings.

They also provide scholarships through different partnerships, either through government funding or through corporate sponsorships.

Often these external organizations go through the Honor Societies to give out scholarships, due to the elite class of students that the Honor Societies accept.

What Business Major Scholarships Are Worth Applying For?

Simply all of them (or the ones you're qualified for, at least). Here's an extensive list of business major scholarships that can help any ambitious business major save money on school.

These scholarships all come with different caveats and requirements. Some require students to have a specific focus, such as studying Supply Chain Management.

Others are location-based. They'll require you to attend a school in Florida, New York, or somewhere in between.

There are also scholarships tailored to minorities and those with disabilities. There are even scholarships for first-generation college-goers, meaning if you are the first in your family to go on to college, it hopefully won't break the bank.

Searching through each of these qualifications can take some time, but the effort is 100% worth it.

How Much Will Scholarships Give Me?

That depends on the scholarship. And the range is quite large.

There are hundreds of scholarships available that will give a few hundred dollars. Meanwhile, there are some scholarships that can give anywhere from $20,000 to funding your entire college tuition.

Naturally, these scholarships are more competitive and difficult to grab. That's why it's best to apply for a healthy amount of scholarships to ensure your best chance of getting additional funds for school.

Another tip: smaller, local scholarships will receive fewer applicants than national scholarships. Your best bet is smart small and then move large.

Basically, check how large the applicant pool will be. The smaller the pool, the likelier you'll succeed.

How Do Honor Society Scholarships Fit In?

Honor Society Scholarships, because of their curated, limited size, are great to apply to. Admittedly, you'll be competing for scholarships in a pool of tremendous individuals like yourself.

However, there are many scholarships to apply for, each offering up to several thousands of dollars in funds for schooling. These scholarships are open only to members of their respective honor society. 

These scholarships range from having terrific GPAs, to achieving great things as a student, while others apply for studying abroad.

Check through all of them and see which you're applicable for and start applying.

What Are the Deadlines for Applying for Scholarships?

This will vary by scholarship. Some will be the end of the year prior to going to school (example: December 31, 2020, if you're starting college in August 2021), while others have deadlines that extend into spring and summer.

Make sure to check these deadlines and apply in advance, when possible.

The last thing you want to happen is to spend the time on an application only for your power to go out and you're unable to submit the application on time. That's a serious bummer.

Most Honor Society scholarships are due at some point on the last day of January, each year. This is so that there's ample time for the selection committee to pick a winner, notify them, and ensure the money gets transferred on time.

Are Scholarships Available if I'm Already in College?

Yes! Scholarships are not just for those entering college. There are scholarships all the way through undergrad, and even for masters programs.

As a business major, you'll likely want to consider doing an MBA program, as this can offer you greater opportunities once you've graduated. Scholarships are still available so that $40,000 price tag can hopefully come down quite a bit.

It's becoming less and less common for companies to pay for their employee's higher education. Most will supplement a portion of the cost, per credit hour, but that charge is still high.

Scholarships are still available even if you decide to work for a bit and then attend graduate school later.

The Honor Society for Business Students

Picking a business honor society is important. Because you're not just developing yourself for college, but for developing a future career. And knowing what each honor society offers can ensure you're working at the company of your dreams.

At the Honor Society, we offer unparalleled access to over 100 industry guides, with over 5,000 company profiles. These additional resources are all included with membership. 

Join the Honor Society

We at the Honor Society are committed to helping future business majors achieve big. With business major scholarships and other opportunities available, you're leaving money on the table by not applying.

College is going to be expensive, but it doesn't have to be. At the Honor Society, we want to give you the skills you need to succeed before, during, and after.

Apply for membership today and start getting access to our Career Insider books, internship opportunities, and of course, scholarships.