When it comes to education, parents and students don’t want to spare any expense.
But sometimes costs can get out of hand. According to the National Center for Education Statistics in fall 2020, about 56.4 million students are projected to attend elementary and secondary schools either in person, online, or some combination of the two, including 50.7 million students in public schools and 5.7 million in private schools. Before the school year is out, an estimated $709 billion will be spent related to public school education. National Center for Education Statistics reported for the 2017–18 academic year, annual current dollar prices for undergraduate tuition, fees, room, and board were estimated to be $17,797 at public institutions, $46,014 at private nonprofit institutions, and $26,261 at private for-profit institutions.
With the educational future in mind to support students with entrepreneurial desire, the National Business Association in 1999 set up the NBA Scholarship program. Since the NBA’s Scholarship Program began in 1999 the NBA has awarded over $160,000 in Scholarships to over 100 deserving students.
The NBA Scholarship Program differs from traditional scholarship programs that reward outstanding academic achievement. NBA Scholarships are awarded to deserving students whose academic credentials fall within an average to above-average range. In general, average and above-average credentials are for those students that rank in the top third of their senior class but not in the top 10 percent.
In 2019 the Association joined with Northwood University to continue the program established in 1999, with the National Business Association Annual Scholarship Program at Northwood University.
Northwood University was founded in March 1959 with 100 students in a 19th Century mansion as the school building. Time has validated the success of Northwood founders with the “Northwood Idea” – incorporating the lessons of the American Free-Enterprise society into the college classroom. With a clearly articulated mission to develop the future leaders of a global, free-enterprise society, Northwood University fits very well with the mission of the NBA’s Scholarship Program.
Five students were selected in 2019 and another five for the 2020 school year to receive an award of Scholarship funds in the amount of $1,000 each. The National Business Association Scholarship awards were set up to be based on academic merit, based on the original deserving students whose academic credentials fall within an average to above-average range and may consider financial need. Recipient must be an entrepreneurship major or demonstrate entrepreneurial ambition. The recipient must commit to being actively engaged in the community and on campus. The National Business Association looks forward to continuing the program with Northwood University.