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The application program will be available again in 2025. Please return then to view the updated Eligibility and Awards for the 2025-2026 academic year! If you are an applicant who would like to discover more scholarship opportunities you might qualify for, please continue to the Scholarship America Hub and sign up!

2025 Scholarship Application Key Dates


The Supplier Diversity Small and Diverse Business Scholarship Program
Application status: Closed

The Supplier Diversity Small & Diverse Business Scholarship Program has been established by Bank of America, N.A., and is funded through the generosity of Bank of America’s vendors. The program provides targeted training and development support to qualified certified diverse business owners or to an employee that holds a key position in the diverse business owner’s company and has been designated on the application by the diverse business owner. Scholarship recipients will be given the opportunity to continue their education and enhance the business operations functions within their companies by attending executive business management programs.

Scholarship Application Key Dates

The program is administered by Scholarship America®, the nation’s largest designer and manager of scholarship, and other education support programs for corporations, foundations, associations, and individuals. Eligibility for individual programs is determined at the sole discretion of the sponsor and eligible applications are reviewed by Scholarship America’s evaluation team.

Applicants to The Supplier Diversity Small and Diverse Business Scholarship Program must:

    • Be a certified diverse business owner or diverse business owner verified key employee at the time of application and award payment as defined by Bank of America, N.A., including:
  • Minority Owned
  • Woman Owned
  • Disabled Owned
  • Veteran Owned
  • Lesbian, Gay, Bisexual, Transgender (LGBT) Owned
  • Historically Underutilized Businesses (HUBZone)
    • Diverse Business Owner must possess a current certification as a diverse business from a recognized certifying agency including but not limited to:
  • National Minority Supplier Development Council (NMSDC)
  • National Association of Women Business Owners (NAWBO)
  • National LGBT Chamber of Commerce (NGLCC)
  • National Veteran Owned Business Association (NVOBA)
  • United States Hispanic Chamber of Commerce (USHCC)
  • US Pan Asian American Chamber of Commerce (USPAACC)
  • Veterans Administration (VA)
  • Women’s Business Enterprise National Council (WBENC)
  • US Business Leadership Network (USBLN)
  • Other
    • Diverse Business Owner must have:
  • At least three years of experience developing a successfully running company
  • Employ at least three (3) full or part-time employees
  • Maintain a minimum annual sales volume of three hundred thousand dollars ($300,000.00 USD) to fifty million dollars ($50,000,000.00 USD)
  • Has not previously attended a comparable executive management program
  • Employees of Scholarship America or Bank of America, as well as families or other related parties, scholarship fund advisors, committee members or any other persons related to any person involved in the administration or awarding of The Bank of America Diverse Business Scholarship Program are not eligible to apply
    • Plan to enroll full or part time within twelve (12) months from the application submission deadline in one of the following executive business management programs, including but not limited to the following institutions. This list may be expanded and/or consolidated by Bank of America, N.A. All additions must be approved in writing by Bank of America, N.A. Other programs may be considered but must be accredited by a recognized organization and approved by Bank of America, N.A. post Scholarship America screening.
  • Tuck School of Business at Dartmouth (includes Tuck-WBENC Executive Program)
  • Berkeley Center for Executive Development, University of California at Berkeley
  • Hass School of Business, University of California at Berkeley
  • Darden Graduate School of Business Administration, University of Virginia
  • Kellogg Graduate School of Management, Northwestern University
  • Kennedy School of Government, Harvard University
  • Harvard Business School
  • McCombs School of Business, University of Texas
  • University of California at Los Angeles
  • Marshall School of Business, University of Southern California
  • Center for Creative Leadership (CCL)
  • Kaplan Continuing Education (KCE)
  • Chicago MSDC-PIPE, University of Phoenix

Selection of Recipients

Applicants will be required to submit an application which includes a personal statement describing their educational goals, how their education plans relate to their business and how achieving those goals will help improve and grow their business.

Recipients will be selected based on their personal statement submitted. Personal statements which should include commentary regarding demonstrated leadership and participation in professional, school and community activities and unusual personal or family circumstances.

Financial need will not be considered.

Preference will be given to applicants who have not received an award in the past.

Selection of recipients is made by Scholarship America. In no instance does any officer or employee of Bank of America, N.A. play a part in the selection. All applicants agree to accept the decision as final.


The authorized distribution for new awards is up to three hundred and thousand dollars ($300,000.00 USD). Up to thirty (30) awards of up to ten thousand dollars ($10,000.00 USD) each will be granted. Award dollars shall cover the tuition/fees for the program and book expenses. Fund committee will meet annually to review and determine distribution prior to application launch.

Awards are not renewable; however, awardees may reapply to the program each year they meet eligibility requirements. Deferrals will be considered on a case by case basis.

Awards are for a course of study that would benefit the applicant in the area of business, includes but not limited to executive certificate programs, degree programs, etc. The scholarship will provide targeted training and development support to qualified certified Diverse Business owners to further enhance business operations within their companies and position them to become better able to compete for increased business.

Award may cover fees and can be used for tuition, training in approved course of work, fees and books but not for travel fees.


All applicants will be notified in July. Correspondence throughout the application process will be by email. Emails will be sent to the username and email address registered on your Scholarship America Hub account. TIP: Be sure to add to your contacts or address book and check your email regularly.

Payment of Scholarships

Scholarship payments are processed by Scholarship America on behalf of Bank of America, N.A. and are made directly to the educational institution upon receipt of proof of enrollment.

As part of your application, you must upload the following:

  • Proof that the applicant’s business is currently certified as a diverse business by a recognized diversity certifying agency including, but not limited to the diversity classifications as noted in the program guidelines.

Your application is not complete unless all required materials are submitted electronically.

Bank of America, N.A. has partnered with Scholarship America. Selecting the button below will redirect you to the Scholarship America Student Hub!

Please make sure to add as well as the program email address provided below in the footer as safe senders in your email contact list.