Top economics scholarships for you

What types of economics scholarships are available?

Need-based scholarships

These are scholarships for students who have demonstrated a financial need. There’s no universal number or set income level that tells you if you qualify. How each scholarship defines what financial need means varies. The federal government as well as specific organizations, corporations, and colleges/universities/schools offer need-based scholarships. 

Merit scholarships 

Merit scholarships are for students who have shown high academic, athletic, or extracurricular achievement over their high school careers. Not all schools/colleges offer merit-aid—highly selective schools typically don’t. The process for applying for merit scholarships varies. For merit scholarships offered through colleges and universities, you generally don’t have to do anything other than complete the application to the school itself. For some schools, you need to submit the Free Application for Federal Student Aid (FAFSA^®) to be eligible.

Career-specific grants or scholarships

These are awarded to students who know they want a career in a specific industry. Maybe they know they want to be a teacher, a nurse, or an engineer. To be eligible for grants, students must submit the FAFSA^®. To find career-specific scholarships, try searching for your major and “association.”

Community or nonprofit scholarships

Nonprofit and community organizations often receive funding from donors to create scholarship programs for students who need them. 

Tips for successful scholarship applications

• Pull together everything you need for the application including transcripts, so you can submit a complete scholarship application.
• You may need a recommendation letter or letters for a scholarship. Ask a teacher, employer, or someone else who knows you to write one for you—and be sure to give them enough time to do it.
• If you’re writing a scholarship essay, follow the prompt, answer the essay question completely, and write from your experience. A few well-written essays that you can reuse for different scholarship applications can really pay off.  
  
• Highlight your strengths and achievements in your application. 
• Talk about your financial need and what you would use the scholarship money for if you won. How would it help? 
• Have to interview for a scholarship? Dress to impress in a professional outfit. And do your research! Look into how/why the scholarship was created. Try to bring up why it’s meaningful to you. Also, don’t forget to send a thank-you note afterwards. 
• Keep track of all the deadlines for the scholarships you’re applying to. If you miss one, they may not extend the due date.  
• Apply for scholarships year after year, all through college. As you continue your studies, gain more experience, and try new extracurricular activities in college, you might be eligible for more scholarships you weren’t originally qualified for.  

Want more tips to up your chances of winning? Check out our scholarship guide for everything you need to know about finding and winning scholarships.