Babson College is located in Wellesley, Massachusetts and is a college that focuses only on business and entrepreneurship. So, this is not a typical university or college that has dozens of majors in different disciplines.
Because of its focus, Babson College is known for excelling at preparing students to be entrepreneurs and businessmen. Because of that, the admission is 25%, which is very competitive.
There are currently around 2,000 undergraduates studying at this college. In this article, we will be discussing Babson College Scholarships, need-based aid, and loans to help you attend this excellent business school.
Cost of Attendance
Before we talk about Babson College scholarships, let’s discuss its cost of attendance. For one year, the tuition is over $50,000, room and board is over $16,000. The college estimates that the total cost of attendance is estimated to be over $72,000.
Babson Meets the Full Financial Need for First-Year Students
Babson College is committed to meeting the full need of the student for the first year. Also, it states while it can’t be guaranteed, it will do its best to meet the need for the rest of the years at Babson. For more information, visit the Financial Aid at Babson Page.
So what does this mean? To apply for financial aid, you will be asked to fill out various forms such as the FAFSA and CSS Profile. Using these forms, the college and the USA government calculates how much you are expected to pay for college tuition. The college then subtracts this figure from the cost of attendance and meet the difference in scholarships, need-based aid, and loans.
So, let’s take a look on what financial options that Babson has to offer.
However, most, if not all, students at Babson College do not pay the full $72,000 a year. If you are interested in what you would pay, use the net price calculator to get a rough estimate.
Merit Scholarships at Babson College
Babson College provides multiple scholarships based on academic merit and need. In this section, we will be discussing all the scholarships that are available for prospective and current students in Babson College.
These scholarships are for incoming freshmen at Babson College. Some require additional paperwork, while others do not. I will note in the description below about whether a separate application is needed. If you want to go to the official site, visit Babson College Scholarships Page.
1. Weissman Scholarship
The Weissman Scholarship is the most prestigious scholarship at Babson College. It provides four-year, full-tuition scholarships to top applicants. Additionally, there are opportunities for additional awards on top of this great scholarship!
Please note that there are additional application to be eligible for this scholarship.
2. Presidential Scholarship
This scholarship is a half-tuition scholarship that renews every year if the student maintains 3.0 GPA. The additional perks of this scholarship is that there are monthly meetings and activities for Presidential Scholarship recipients!
This scholarship does not require additional scholarship materials to be eligible. This means that you will be automatically be considered when you submit you admission application to Babson College.
3. Diversity Leadership Award
As the name implies, this scholarship in Babson College is for students with excellent academic records that have contributed to binding all the diverse communities together. Like the Weissman Scholarship, this is a full-tuition scholarship that is renewable every year. There are meetings, activities, and responsibilities that the scholarship recipients need to participate in.
Note that there is no scholarship application for this award. Admission and scholarship committee will look at your admission application and select those that have contributed to making inclusive communities.
4. Center for Women’s Entrepreneurial Leadership Scholarship
I hope that this is obvious to you that this Babson College scholarship is for women only. This is a quarter-tuition scholarship that renews every year. The ideal candidates have great academic achievements and leadership abilities. The finalists will be selected after an interview.
There is no separate application needed. However, you do need to do an interview if you are selected as a candidate for this scholarship.
5. DECA Scholarship
This scholarship is four-year scholarship for $5,000 per year. The eligibility requirement is that you have participated in DECA, or Distributive Clubs of America, which is for young entrepreneurs. This scholarship requires an additional scholarship application.
6. Babson Junior Achievement Scholarship
The Babson Junior Achievement Scholarship is a four-year $20,000 per year scholarship. The eligibility criteria is that you have participated in Junior Achievement USA. There is an additional scholarship application associated with this scholarship as well.
7. NFTE Scholarship
NFTE stands for Network For Teaching Entrepreneurship, and this scholarship provides four-year $20,000 per year scholarship. The eligibility criteria is that you have participated in NFTE. There’s additional scholarship application as well.
Returning Student Scholarship
Babson College offers scholarships for returning students, which means sophomore, junior, and senior students in Babson. These scholarships are stackable with some first-year scholarships and are not with other first-year scholarships. Please go to Babson Scholarships Page for more information.
1. Dean’s Scholarship
This scholarship provides students with up to $5,000 per year. Students are selected according to their GPA. Students with highest GPA will be selected to receive this award.
2. Honors Program Scholarship
This scholarship is awarded to students who are in the Honors Program. It awards up to $3,000 per year for eligible students.
How to Apply for Babson College Scholarships
Now, let’s discuss how to apply for Babson College Scholarships. Some scholarships require that you only apply for admissions at Babson College while others require a separate application. If that is the case, you will need to submit a separate scholarship application in addition to the admission application.
There are many options for you in Babson College for financial aid. First, they offer need-based aid, which is based on your family’s financial needs To apply, you will need to fill out the CSS Profile and FAFSA and submit those document to Babson College. For more information, visit Financial Aid Page.
I hope that this article on Babson College scholarships was helpful. If you are interested, I highly suggest going to Massachusetts University Scholarships Category and Authority Scholarships Page for scholarship information.