In the span between the 2001 and 2004 school years, enrollment in college accounting programs jumped by up to 40 percent. The job is popular, as is its paycheck — the median wage, according to the U.S. Bureau of Labor Statistics' 2009 review, was more than $59,000 a year. To assist with the growing need for these trained professionals, many organizations offer substantial scholarships to encourage students. The popularity of the field and the available scholarship dollars, though, make for stiff competition when students apply for tuition help.
Many accounting groups, such as the National Society of Accountants and the Institute of Management Accountants, make dozens of awards ranging up to $3,000 available each year to accounting students. Some assistance, like the John L. Carey Scholarships for schools within the Association to Advance Collegiate Schools of Business, is specific to graduate students, but the awards are each worth $5,000 annually. The Government Finance Officers Association, through its Frank L. Greathouse Scholarships, give $3,500 in support to students in both graduate and undergraduate programs. Other groups offering scholarships include the National Association of Public Accountants and the Association of Certified Fraud Examiners.
Many groups offer specific assistance for minorities wanting to study and enter the accounting field. The Educational Foundation for Women in Accounting will consider awards of up to $5,000 to female students pursuing doctorates. Their Women in Transition and Women in Need scholarships are geared toward undergraduates. The Association of Latino Professionals in Finance and Accounting has a partnership with the Hispanic College Fund to give up to $10,000 annually for students of Latino descent. For black students, the National Association of Black Accountants gives scholarships ranging from $1,000 to $6,000 to active students looking at business, accounting or finance degrees.
Specific universities and state professional organizations may have scholarships endowed for accounting students. For example, the Illinois CPA Society offers multiple awards of up to $2,000 for students with a 3.0 or equivalent grade average. Also, local firms may have their own scholarships to give students from their areas. In South Bend, Ind., for example, the firm of McGladrey & Pullen gives $500 to prospective accountants. While these types of awards are often smaller than those given by national groups, even a few hundred dollars helps offset tuition costs.