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:
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 bofabusiness@scholarshipamerica.org to your contacts or address book and check your email regularly.
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:
Your application is not complete unless all required materials are submitted electronically.