Financial Aid for Accounting Students of Color
Updated May 1, 2025
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People of color remain underrepresented in the accounting profession. Black certified public accountants (CPAs) hold only 2% of jobs at U.S. accounting firms, while Hispanic and Latino/a CPAs hold just 5%, according to the American Institute of Certified Public Accountants (AICPA) research.
Accounting majors are becoming more diverse, however, with Hispanic and Latino/a students making up 13% of accounting graduates, Asian and Pacific Islander students accounting for 9%, and Black students earning 7% of accounting degrees. To help increase diversity in the accounting field, many organizations offer financial aid specifically for students of color.
Read on to find accounting scholarships for underrepresented students.
Types of Scholarship Providers
Many organizations offer accounting scholarships, and some provide scholarship programs specifically for accounting students of color. Nonprofit foundations and location-based groups, such as state CPA societies, also award scholarships.
In addition to seeking accounting scholarships for people of color, accounting students of color can benefit from any accounting-specific scholarships and scholarships open to minority learners in any major.
In addition to seeking accounting scholarships for people of color, accounting students of color can benefit from any accounting-specific scholarships and scholarships open to minority learners in any major.
Look for financial aid opportunities offered by reputable organizations, including local and national accounting corporations, government agencies, and colleges. Your accounting department can help you identify additional scholarship opportunities.
Possible Requirements
The requirements for accounting scholarships vary widely. For example, while some scholarships use need-based criteria, others use a merit-based approach to award funds. Many scholarship programs also require a minimum number of credits at the college level and specific career goals.
Review the eligibility requirements, submission materials, and deadlines closely before applying for scholarships. Below are some typical requirements, although not all scholarships will have all of them.
Eligibility
- Minimum GPA of 3.0
- Demonstration of financial need
- Full-time or part-time enrollment
- Undergraduate or graduate degree
Submission Materials
- Unofficial or official transcripts
- Resume or CV
- Essay or personal statement
- Letters of recommendation
Tips for Getting Accounting Scholarships for Students of Color
Accounting scholarships can make your degree more affordable. These tips can help you find scholarship opportunities and craft applications that stand out.
Finding Scholarships
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Research Opportunities: You can start your search by finding scholarship opportunities online. Organizations that award scholarships often promote them on their websites or in scholarship search engines. -
Look Locally: While you'll find national scholarships online, you should also research local scholarships for your state or city. These scholarships typically receive fewer applications, which gives you a higher chance of receiving an award. -
Use Financial Aid Advisors: If you're enrolled in an accounting program, use your school's financial aid resources to find scholarships. Your department and the financial aid office can point you to opportunities.
Applying for Scholarships
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Track Deadlines: When applying for scholarships, carefully track deadlines. Missing a deadline guarantees that you'll miss out on scholarship money. Consider using a physical or virtual calendar to track deadlines and application materials. -
Personalize Applications: Customize your scholarship applications based on the award and applicant evaluation criteria. For example, if the scholarship considers professional experience, outline any internship, volunteer, or work experience you have directly. -
Time Management: Applying for scholarships can be time-consuming. Staying organized is the best way to manage your time. For example, schedule time during class breaks to prepare materials or ask for multiple recommendation letters simultaneously.
Available Financial Aid for Underrepresented Students
Scholarships, fellowships, and grants can help students graduate with less debt. And accounting scholarships for minorities also help increase diversity in the accounting field, as well as at universities. The following sections introduce some of the many scholarships available for accounting students of color.
Financial Aid for Accounting Students of Various Minority Groups
Clark Burrus Scholarship
- Requirements: Offered by the Government Finance Officers Association, this scholarship was named after Clark Burrus in 2024 after formerly being known as the Minorities in Government Finance Scholarship. The award supports minority students planning to work in state or local government finance. Applicants can be full-time or part-time graduate or upper-level undergraduate students.
- Award: $10,000
- Deadline: TBA
American Dream Scholarship
- Requirements: Offered by the Educational Foundation for Women in Accounting, this award primarily supports Black, Latina, and Indigenous American women majoring in accounting at an accredited two-year institution who plan to transfer into a four-year institution. Applicants must demonstrate financial need.
- Award: Up to $1,000
- Deadline: March 30
Paul & Daisy Soros Fellowships for New Americans
- Requirements: The fellowship supports immigrants and the children of immigrants earning a graduate degree in the U.S., including accounting students. Fellows can receive up to two years of funding.
- Award: Up to $90,000
- Deadline: Oct. 30
Financial Aid for Black Accounting Students
NABA National Scholarship
- Requirements: The National Association of Black Accountants grants scholarships to full-time students who are active NABA student members. NABA does not charge for student membership. Applicants must demonstrate academic excellence and be a U.S. citizen or permanent resident.
- Award: $1,000-$10,000
- Deadline: April 11
ABWA General Scholarship
- Requirements: The Alliance of Black Women Accountants awards scholarships to full-time and part-time Black women in accounting. Applicants must be student members of ABWA, which does not charge for student memberships, and hold a minimum GPA of 2.75. The scholarship committee considers leadership skills, communication skills, and financial need.
- Award: Up to $5,000
- Deadline: Sept. 23
ETS Presidential Scholarships for HBCUs
- Requirements: The Educational Testing Service awards scholarships to juniors and seniors attending public or private historically Black colleges and universities (HBCUs). Applicants must demonstrate financial need and leadership abilities, and the scholarship requires a minimum GPA of 3.5.
- Award: Full tuition
- Deadline: March 17
IABA Scholarships
- Requirements: The International Association for Black Actuaries provides scholarships for Black college students who plan to become actuaries. The committee evaluates applicants based on their academic results, communication skills, and interest in the actuarial profession.
- Award: $1,500-$5,000
- Deadline: March 31
Financial Aid for Hispanic and Latino/a Accounting Students
Prospanica Scholarships
- Requirements: Offered by the Association of Hispanic MBAs and Business Professionals, this scholarship supports undergraduate and graduate students earning a business degree, including in accounting. Applicants must have a Prospanica membership; annual membership costs $15 for undergraduates and $30 for graduate students.
- Award: Up to $5,000
- Deadline: April 6
HSF Scholar Program
- Requirements: The Hispanic Scholarship Fund names 10,000 students as HSF scholars annually. Full-time undergraduate and graduate students of all races who identify as being of Hispanic heritage qualify with a minimum GPA of 2.5. Applicants must be U.S. citizens, permanent legal residents, or DACA recipients.
- Award: $500-$5,000
- Deadline: Feb. 15
OLA Scholarships
- Requirements: Offered by the Organization of Latino Actuaries, this award encourages Latino/a students to consider the actuarial profession. The committee evaluates applicants on their academic performance, work experience, leadership experience, and commitment to pursuing actuary careers.
- Award: $5,000-$7,500
- Deadline: March 31
Financial Aid for Asian American and Pacific Islander Accounting Students
APIA Scholarship
- Requirements: Offered by the Asian Pacific Islander American Scholars program, this award supports undergraduates at accredited colleges in the U.S., including two-year colleges. The scholarship program focuses on supporting Asian and/or Pacific Islander students who are at or below the poverty line or are first-generation college students.
- Award: $2,500-$20,000
- Deadline: March 28
Matt Fong AAPF Scholarship
- Requirements: This Asian Americans in Public Finance Scholarship supports full-time undergrads attending a four-year institution in California. Applicants should major in accounting or a related field, have at least 50% Asian heritage, and have a minimum GPA of 3.0. The award gives preference to those interested in public sector work.
- Award: $5,000
- Deadline: April 21
Upakar Scholarship
- Requirements: Students born in India or who have one parent born in India can apply for this scholarship. Applicants must be U.S. citizens or permanent residents, be enrolled full time at an accredited institution, and have a family adjusted gross income of under $125,000. The scholarship also requires applicants to have a minimum GPA of 3.6.
- Award: up to $10,000
- Deadline: April 30
KASF-KIA Scholarship
- Requirements: The Korean American Scholarship Foundation, in partnership with KIA, offers a scholarship for students with Korean heritage, including Korean nationals studying in the U.S. Applicants must be majoring in a STEM field or business administration, including accounting, and hold a minimum GPA of 3.5.
- Award: Up to $5,000
- Deadline: June 30
Financial Aid for Indigenous American Accounting Students
Native Forward Scholars
- Requirements: The Native Forward scholars program provides multiple funding opportunities, including for accounting students. Applicants must be an enrolled member or descendant of a recognized American Indian Tribe or Alaska Native group. The program also requires proof of financial need.
- Award: Varies
- Deadline: June 1
AICF Scholarships
- Requirements: The American Indian College Fund awards scholarships to cover the cost of certificate, undergraduate, and graduate programs. Applicants must be an enrolled member of a federally or state-recognized tribe or a descendant of an enrolled member. While award amounts vary, the average awards range from $2,000-$3,000.
- Award: Varies
- Deadline: May 31
Navajo Nation Investment Committee Finance and Accounting Scholarship
- Requirements: Navajo students studying accounting or a closely related field qualify for this scholarship. Both undergraduate and graduate students qualify. Applicants must be enrolled members of the Navajo Nation with a minimum GPA of 3.0. Scholarship awards are based on academic achievement rather than financial need.
- Award: Up to $7,000
- Deadline: July 28
American Indian Education Fund
- Requirements: AIEF supports Native American, Alaska Native, and Native Hawaiian students attending accredited colleges in the U.S. Applicants or one parent must be enrolled in a federally recognized tribe or provide documentation of Native Hawaiian status. While AIEF recommends a minimum GPA of 2.0, all students can apply.
- Award: Up to $2,000 per school year
- Deadline: April 4
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