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It’s already difficult enough to be a college student when you consider coursework, work-study jobs and student debt. It gets even tougher if you know you want to pursue entrepreneurship as a post-graduate or have already started a business from your dorm room. In addition to paying rent and additional bills like car insurance and utilities, you may need extra financial support to keep the business afloat.
Where can you find funding? You could always apply for a bank loan and add on to your existing debt. Or, you could do your due diligence and research other financing methods, like grants and scholarships, that don’t require paying a penny back in return. (I like the latter idea better, too).
If you’re not sure what kinds of scholarships are available, I rounded up a few that student entrepreneurs from all walks of life can apply for — and hopefully, be awarded!
Related: Do Schools Kill Entrepreneurship?
More about the scholarship: FormSwift, a company that specializes in creating and editing documents ranging from W-2 forms to invoices, has created a scholarship program to grow the next generation of entrepreneurs. Rather than write an essay or film a video, applicants must create and submit a business plan infographic. This infographic may reflect one of five industries: startup, restaurant, non-profit, transportation or clothing. The more unique, thoughtfully researched and creative, the better.
How much does it offer? $1,000
Eligibility requirements: You must be enrolled in college (this includes community colleges, four-year universities and graduate students) or a senior graduating from high school in order to apply.
The scholarship also extends outside of the United States, with international students eligible to apply, too. Entries must be emailed to [email protected] with the subject header “FormSwift Scholarship Entry” and include your full name, state and school information by the deadline.
Application deadline: For fall, the deadline is September 15, 2018. For winter, it’s December 15, 2018
More about the scholarship: Insureon, which prides itself on its hassle-free small business insurance, wants students with an entrepreneurial spirit to share a 500 to 750 word essay on what their favorite small business is and why. Two winners will be awarded for each scholarship period.
How much does it offer? $2,500
Eligibility requirements: This scholarship is open to undergraduate students attending two- or four-year public or private colleges or universities in the United States. Essays are judged through a points system: 25 points awarded for spelling, grammar and how the essay addresses the question, 25 points for clarity and creativity, and 50 points for the content itself, which should include concrete examples of how the student interacted with this small business.
Application deadline: October 19, 2018
More about the scholarship: Bryan Clayton is the CEO of GreenPal, an online marketplace that connects homeowners with local lawn care service providers. Clayton started his business in high school and grew it while he was a college student. Because of that, the company recognizes that tomorrow’s entrepreneur is already in school and pursuing his or her dreams, and the GreenPal Scholarship has been created precisely with them in mind. Interested applicants must write a 500 to 1,000 word essay for a chance to receive the funds.
How much does it offer? $2,000, to be paid equally over four semesters.
Eligibility requirements: Graduating high school seniors from the Class of 2018 may apply, as well as current college students with a GPA of 3.5 or higher. They must demonstrate a desire to become an entrepreneur and have a declared major in business, economics or finance. Along with the essay, your photo should be emailed to [email protected].
Application deadline: October 15, 2018
More about the scholarship: The leading supplier of kitchen and bathroom cabinets in the U.S. began with two plucky entrepreneurs pursuing their dream of disrupting the cabinet industry. They’re also members of the Young Entrepreneur Council (YEC) and want to give back to the next generation. Through an online portal, interested applicants may upload an essay that covers the following topic: hHw will cryptocurrencies and blockchain technology change the way companies do business?
How much does it offer? $5,000 to one lucky winner
Eligibility requirements: This scholarship is open to current college students or incoming freshman enrolled in an undergraduate or graduate degree program at an accredited college or university in the United States for the Spring, Summer or Fall 2019. Submitted essays should be no more than 500 words, and focused on the topic with added pinches of creativity and out of the box thinking.
Application deadline: December 30, 2018