Supply Chain Management Scholarships & Financial Aid

Whether you're a working professional seeking a career change or someone entering the field for the first time, the cost of higher education can seem overwhelming. Don't let high tuition rates discourage you from earning a degree in supply chain management.

Many affordable online supply chain management degrees and financial aid options are available. Students will improve their material handling and leadership skills by enrolling in a supply chain management program.

Types of Financial Aid for Supply Chain Management Students

Learners have many financial support resources to help them pay for their degrees. Some of these include scholarships, grants, work-study opportunities, and more. Graduate and undergraduate students have different financial aid requirements.

Graduate students may need to submit their GMAT, GRE, and GPA scores. Ensure that your chosen program is accredited before enrollment. Here are some types of financial aid for supply chain management students.

Grants

Students must fill out the FAFSA online application form to determine financial aid eligibility. After some time, you will receive a student aid report (SAR). This report will list grants and other opportunities to help you lower tuition expenses.

Learn more: What Is a College Grant?

Review your SAR carefully and see what programs are best for you. Some grants you may qualify for as an aspiring supply chain professional include:

• Federal Pell Grant: The Federal Pell Grant is a form of aid available for undergraduate students who have not earned a degree. Students don't need to repay this award. Reward amounts vary.
• Bill & Melinda Gates Foundation Partnership for Supply Chain Management Grant: The Bill & Melinda Gates Foundation commits over $1 million to those participating in a grant about global health and development public awareness and analysis.
• Association for Supply Chain Management (ASCM) Research Grant: The ASCM Future of Supply Chains Research Grants explores how emerging trends impact supply chains and value networks. The award amount varies depending on the research grant.
• Global Health Supply Chain Research Challenge Grant: The Global Health Supply Chain Research Challenge Grant inspires researchers to resolve global health issues in low and middle-income countries. They plan to offer two $12,000 grants to winning submissions.

Free Application for Federal Student Aid (FAFSA)

The FAFSA, or Federal Application for Federal Student Aid, is a form that students must complete to apply for financial aid. The purpose of this online form is to determine what federal aid students qualify for. Gather all necessary documents before you apply to make the process easier. Apply early to maximize your benefits package.

Supply Chain Management Scholarships

Scholarships aim to reduce the financial burden on college students. Scholarship applications have various requirements depending on the organization or institution offering the award.

Review each scholarship application requirement carefully to ensure you follow the funding organization's regulations. Here are some supply chain management scholarships:

• NSHSS Foundation Logistics & Supply Chain Management Scholarship: This scholarship is open to high school seniors and college students. Two recipients will receive $1,500 toward their tuition payments.
• R. Gene and Nancy D. Richter Supply Chain Management Scholarship: The R. Gene and Nancy D. Richter Foundation and the R. Gene Richter Scholarship Fund at the Institute for Supply Management will award $15,000 to students majoring in supply chain management.
• John Galt Solutions Scholarship: John Galt Solutions awards two $10,000 scholarships to students in supply chain management or education in business forecasting programs.
• The Liz Richards Scholarship: The Material Handling Equipment Distributors Association (MHEDA) sponsors the Liz Richards scholarship and offers two to three scholarships yearly. Each scholarship is worth $5,000.
• Terry L. Priest Scholarship: This scholarship is open to undergraduate students pursuing a certification, associate degree, or bachelor's degree in transportation, logistics, or supply chain management. Award amounts vary.

Federal Loans

The government provides federal loans to help students finance their education. These loans accrue interest but offer lower rates than private loans. They also have more favorable repayment plans.

Many types of federal loans exist, and each has different requirements. You can see which federal loans you qualify for in your SAR. Some federal loans include:

• direct subsidized loans
• direct unsubsidized loans
• direct PLUS loans
• direct consolidation loans

Private Loans

Private student loans are non-federal loans. Financial institutions, such as banks and credit unions, offer private loans to help students pay for college. Private loans have their own terms, conditions, and eligibility requirements.

The main private loans for college students are undergraduate, graduate, and parent loans. These loans typically have fixed interest rates and are generally higher than federal loans. Your credit history determines the interest rate you receive.

Work-Study Programs

Work-study positions are federal financial aid programs that provide students with part-time jobs to help pay their tuition. To qualify for this program, you must demonstrate financial need. Eligibility is assessed based on the information you submit on the FAFSA form.

These jobs are flexible and designed to accommodate your class schedule, ensuring no conflicts. Work-study jobs include:

• library assistant
• tutor
• campus tour guide
• food service worker

FAQs About Financial Aid for Supply Chain Management Degree Programs

Here are answers to frequently asked questions about financial aid for supply chain management degree programs.

What Is the Difference Between a Grant and a Scholarship?

Although grants and scholarships provide financial assistance for education, they differ in several ways. Some of these differences include:

• sources
• application process
• eligibility
• purpose

Grants are generally awarded based on financial need, whereas scholarships are typically based on merit. In addition, federal or state governments often fund grants, while various organizations support scholarships.

Learn more: [Scholarships vs. Grants

Can I Receive Multiple Scholarships for My SCM Degree?

Yes, you can receive multiple scholarships for a SCM degree. Students can pursue various scholarship opportunities if they meet the eligibility requirements. However, you should check with each scholarship organization to ensure they don't have specific rules against stacking scholarships.

Some institutions may also have regulations concerning how much financial aid a student can receive. Meet with a representative from your institution's financial services office if you have any questions.

How Do I Know if I Qualify for Financial Aid?

You must complete the FAFSA form to determine whether you qualify for financial aid. This form collects information to evaluate your financial needs and provides a report based on that data. This report will tell you what federal aid you are eligible for.

Several things affect your financial aid eligibility and calculation. Some of these factors include:

• dependency status
• expected family contribution (EFC)
• school information
• academic progress

Find a Supply Chain Management Program Today

Obtaining a supply chain management degree is the first step toward a rewarding and lucrative career. This degree equips you with essential skills and knowledge that the global marketplace values. Contact one of the featured institutions on Learn.org for more information.