Learn More About Scholarships by Demographics

A college degree has become increasingly important for one's career prospects in the US, with a college education promising to open doors for graduates. As college costs continue to rise, scholarships are becoming an increasingly important part of many students' payment plans. Due to the rising student loan crisis, soaring to over $1.7 trillion owed between 45 million borrowers, there is significant competition for financial aid.

To have the best chance of securing financial assistance, students should consider applying for ethnicity-based scholarships due to the fewer number of eligible applicants. The more eligibility requirements a scholarship has, such as a required ethnic background, the less competition you'll be up against, and the greater your chances of winning will be!

Due to racial discrepancies in wages and family resources, the student loan crisis doesn't affect everyone equally. Black students typically take out the most debt for college, owing an average of $44,880. White students have the second-highest average debt at $40,170 followed by $38,890 for Hispanic students.

Even though white students have the second-highest average debt, students of color are often disadvantaged when repaying their student loans. After graduating, 23% of Hispanic students and 20% of Black students are behind on repaying their loans, while only 6% of White students are behind.

This discrepancy is partially due to the racial wealth gap in the U.S. but also stems from the different wealth rates of families of different races. The median wealth of White families is $188,200 as compared to just $24,100 for Black families and $36,100 for Hispanic families. Native American, Asian American, and Pacific Islander families have a median wealth falling in between the wealth of Hispanic and White families. 

Having more limited family resources leaves students of color more vulnerable to debt. Additionally, a lack of a safety cushion contributes to the struggles that some borrowers face when trying to repay their loans. 

Similarly, minority students are more likely to come from households where neither parent has completed a bachelor's degree or higher. While 76.2% of White doctorate recipients have at least one parent who has received a bachelor's degree or higher, only 50.8% of their Native American counterparts and 49.7% of African American recipients come from a similar household. 

As a result, there are many scholarships specifically geared towards supporting minority students. Some scholarships are open to all minorities while other awards are only open to specific racial or ethnic groups. As a minority student finishing high school, attending college, or pursuing a graduate degree, scholarships can be a crucial source of financial aid. 

Ethnicity based scholarships

Despite recent progress, higher education and many career fields are still dominated by white workers. The racial wealth gap has also persisted, resulting in lower wages for people of color.

Male Black employees earn an average of just 87 cents for every dollar earned by white men. Black women also earn lower wages, making up 10% of low-wage workers despite making up only 6.2% of the workforce.

In comparison, Hispanic and Native American men earn 91 cents for every dollar earned by white men while Pacific Islanders earn 95 cents and Asian Americans earn $1.15.

There are scholarship opportunities available for all different minority groups, including scholarships for BIPOC students. Students of color can find scholarships open to all racial minority students here, with additional scholarships by race or ethnicity below!

African American scholarships

African American students are still underrepresented in many fields and often earn less than their white counterparts in the workplace. In an effort to boost diversity in academia and white-dominated fields such as STEM, many scholarships are focused on uplifting African American students.

While Black students can apply for more broad minority scholarships that are open to all people of color, scholarships specific to African American students will have fewer eligible applicants. To have the best chances of winning, consider applying for the following scholarships for African American students!

1. Kade Lewin Scholarship
2. Bookman 5 Scholarship
3. Cyrilla Olapeju Sanni Scholarship Fund
4. Dajah Moore Memorial Scholarship
5. Amelia Boynton and S.W. Boynton Scholarship
6. M.H.M.A. Black Excellence Scholarship
7. Ms. Catherine Gipson Scholarship

You can find even more scholarships for Black students in this guide.

Hispanic/Latino scholarships

Hispanic students are also underrepresented across many high-paying fields. In STEM, for example, Hispanic workers make up just 8% of the STEM field despite making up 17% of the total workforce in the US.

Hispanic and Latino students face a unique set of obstacles when pursuing higher education. Latinos are more likely than any other racial group to be first-generation. 44% of Latino college students were the first to attend college in their family as compared to just 22% of White students. Due to a lack of family resources and mentorship, it can be difficult for Hispanic students to navigate college.

The following scholarships are great opportunities for Hispanic and Latino students to consider.

1. Cisneros Climaco Scholarship
2. Francisco Toro Ramirez Sr. Scholarship
3. Hispanic Empowerment No-Essay Scholarship
4. Destinie's Dollars for Degrees Scholarship
5. Enrique Castillo Educational Scholarship
6. Nina L. Coleman Memorial Scholarship

Check out this guide for additional Latino scholarships.

Asian American and Pacific Islander scholarships

While Asian Americans have become the most educated racial group in the US, persisting discrimination can make it challenging for AAPI individuals to pursue their college educations and career goals.

The following scholarships are exclusive opportunities for Asian American and Pacific Islander students.

1. Asian American / Pacific Islander Scholarship
2. Advancing Social Justice for Asians Scholarship
3. Filipino-American Scholarship
4. Mary P. Perlea Scholarship Fund
5. Carrie Lee Peyton Amazing Education Scholarship
6. Loretta Webb Green Scholarship

Read this guide for additional scholarships for Asian American and Pacific Islander students.

Native American scholarships

American Indians and Alaska Natives are one of the smallest ethnic groups in the US, making up just 1.3% of the population. As a result, Native Americans are often overlooked and underrepresented when pursuing higher education.

Due to the small population, American Indian students may feel isolated on college campuses. Limited financial resources and mentors to look up to can make it even more difficult for Native students to complete their college degrees. The following scholarships seek to rectify this problem by supporting Native American students throughout their higher education journeys.

1. Chaweka Lynn Fisher Memorial Scholarship
2. Indigenous Women in STEM Scholarship
3. CEW IV Foundation Scholarship Program
4. Coding for Minorities Scholarship
5. Kenyada Me'Chon Thomas Legacy Scholarship

You can read this guide for even more scholarships for students with Native American heritage.

Scholarships for minorities

Average student debt by ethnicity

Scholarship interest by ethnicity

Financial aid available/

Frequently asked questions

When can I start applying?

As soon as you're in high school and at least fourteen years old, you can begin applying for scholarships on Bold.org. The earlier you begin applying, the more time you'll have to earn financial aid through scholarships. Starting as a high school freshman will allow you to maximize your time to earn scholarship funds. There's a particularly large set of scholarship awards available to high school seniors, in particular, so be sure to start applying for minority scholarships as early as possible so you don't miss any opportunities.

However, it's never too late to begin applying. There are scholarships open to students of all education levels, ranging from scholarships for specific grade levels, such as college sophomores, to broader groups such as doctoral students. High school students, undergraduate students, and graduate students who are part of a minority group can all take advantage of scholarships.

What do I have to do to qualify?

Each scholarship award is different and comes with a unique set of eligibility requirements that students must meet to qualify. It's important to always read through the requirements listed in the description to make sure you're eligible before you put any time into your application.

A defining requirement of ethnicity-based scholarships is that applicants must be racial minority students. A minority scholarship may be open to all BIPOC students or to a select group, such as African Americans, mixed-race students, Native American students, etc.

In addition to a racial or ethnic requirement, scholarships may have additional criteria, such as financial need academic achievement, field of study, academic year, public service experience, or location. In most cases, applicants must be currently enrolled students at a U.S. college, high school, or technical university. However, recent graduates with student debt may also apply for certain scholarship awards and grants.

While applicants must be attending U.S. schools, most scholarships don't require applicants to be citizens. This means that undocumented students are eligible to apply for most scholarships. 

How can I apply for ethnicity scholarships?

The first step in applying for scholarships is to find your source. Bold.org is a scholarship provider that offers hundreds of scholarships for all different groups of students. To begin applying, applicants must create a free profile and start browsing through available opportunities.

When creating a scholarship account, make sure to fully fill out your profile with unique details so that donors can establish a connection with you when reviewing your applications. Additionally, having a complete profile will make it easier to determine whether you're eligible for scholarships. Bold.org will prevent students from applying for scholarships they don't qualify for, so make sure your profile is complete and accurate so you're not locked out of any opportunities you're eligible for.

Once you've found a scholarship you'd like to apply for, read the description for any application requirements and instructions. Usually, applicants must write a short essay in response to a given prompt or question. These e