Are you searching for a scholarship to help you pay for university? If you answered yes, you now have a chance to do so thanks to the Bank of America Scholarship.
To let you know, the Bank of America Student Leaders Program is still accepting applications. You should also keep in mind that this program is created exclusively for high school students in the United States.
We’ll tell you everything you need to know about the Bank of America Scholarship, including the prerequisites, application process, scholarship value, and application date.
The Bank of America Corporation, or simply Bank of America, is an American multinational investment bank and financial services holding company based in Charlotte, North Carolina. It is often abbreviated as BofA or BoA.
The bank was created in San Francisco and bought by NationsBank of Charlotte in 1998 when it took on its current form.
Following JPMorgan Chase, it’s really the 2nd largest bank in the United States and the eighth-largest bank in the world. Bank of America is one of the United States’ Big Four banking institutions. Commercial banking, wealth management, and investment banking are the company’s major financial services.
Bank of America Student Leaders Scholarship 2022
The annual Student Leaders Program, sponsored by Bank of America, is now open for applications. As a result, thoroughly read all of the material underneath in order to be eligible for this award.
Thru all the hands-on community work experience, the program allows young people to develop and apply leadership skills.
He or she will do an eight-week paid internship at a local charity or charitable organization (selected by Bank of America). It facilitates the employment, skill development, and service of community-minded high school juniors and seniors.
Here are a few important things to know about scholarships by Bank of America.
Level/Field of Study
Prior to actually applying for the Bank of America Student Leaders Program 2022, no specific level or field of study is necessary.
If you’re looking for undergraduate or master’s level scholarships, you can use the links to the different categories to see what else is obtainable in 2022.
The host country for the Nationality Bank of America scholarship is the United States of America.
If you are an international student interested in studying in the United States, look into the top scholarships available.
You can use these scholarship opportunities to help you with the majority of your academic issues.
Bank of America Scholarship Value
Every one of the Bank of America scholarship winners will get paid summer internships with local NGOs as well as the opportunity to attend the annual Student Leadership Summit in Washington, D.C.
Eligibility for Bank of America Scholarships
- The Bank of America scholarship for 2022 is exclusively open to nationals of the United States.
- You must be a junior or senior in high school and in good academic standing.
- Be prepared to operate 35 hours a week and engage in an 8-week paid internship at a local nonprofit/charitable organization (as determined by Bank of America).
- Through the end of September, be legally permitted to work in the United States without sponsorship.
- From July 8-13, you will be able to attend a week-long Student Leaders Summit in Washington, DC. As part of the Student Leaders program, all expenses are covered. That week is portion of your eight-week program.
- Fill out the online application and ask a teacher, guidance counselor, or school administrator for a letter of recommendation.
- Employees of Bank of America or their immediate families are not eligible to be nominated. Spouse or domestic partner, child (including by adoption), parent, grandparent, grandchild, cousin, aunt, uncle, sibling, niece, nephew, parent-in-law, brother-in-law or sister-in-law of the employee or the employee’s spouse or domestic partner, and all step relationships are all considered family members.
How to Submit an Application for a Bank of America Scholarship
Candidates for Bank of America scholarships should apply online at the website and application link.
The deadline to apply for this year’s Bank of America scholarship has not yet been reached.
Yearly, the Student Leaders application is open from November 4 to January 31.
Joe Martin Scholarship for Bank of America Employee
The Joe Martin Scholarship is now open to both full-time and part-time Bank of America employees. Joe Martin Scholarship recipients will be high school seniors and graduate students.
If you are chosen for the Joe Martin Scholarship, you will receive up to $2,500 to be used for one year of study. Please submit your Joe Martin Scholarship application by the deadline listed on the official website.
Description of the Scholarship
Joe Martin, former Principal Corporate Affairs Executive and Special Counsel to former Chairman Hugh McColl, is honored with the Joe Martin scholarship.
The Joe Martin Scholarship is a comprehensive scholarship program for dependents of Bank of America employees to attend college or vocational schools in the United States.
Financial need, academic achievement, leadership, character, and services to school and community are all factors that go into awarding scholarships.
Scholarship Value Grants are $2,500 for one year of full-time study and can be extended for up to three years if educational attainment is excellent.
Level and Subject Area of Study
Any subject at the undergraduate level.
Studying in the United States.
Criteria & Eligibility
Employees must be able to:
- At the time of award recipient selection, you must be a full-time or part-time Bank of America employee. A service provided by Bank of America’s predecessor banks or subsidiaries is considered a Bank of America service.
- By the time the award recipient was chosen, they had worked for Bank of America for at least a year.
- Workers in job bands 4–9 at the time of award recipient selection are eligible (employees in job bands 0–3 are not).
- Employees’ dependents who have died, become disabled, or retired are however entitled.
Students must complete the following tasks:
- You must be 23 years old or younger and a Bank of America employee’s dependant.
- Whether you’re a senior in high school or a recent graduate,
- Desire to register in a full-time undergraduate field of study at an approved 2-year or 4-year college, university, or vocational/technical institution in the United States, or are automatically enrolled.
- Enroll in the autumn of year in which the prize is presented at the college, university, or vocational/technical school of their choice in the United States.
- This program may be suspended, changed, or terminated at any time by Bank of America. The Board of Directors of the Bank of America Charitable Foundation Board will evaluate the program’s definition, applicability, and administration, and their decision will be final.
Nationality of Applicants
This Joe Martin Scholarship is open to students from the United States.
The website link below contains detailed information about the application process as well as the deadline for submission.
Frequently Asked Questions
Here are some frequently asked questions about Bank of America’s student aid programs.
Does Bank of America offer scholarships?
The Bank of America Diversity Scholarship of Distinction demonstrates the bank’s dedication to identifying top campus talent by providing opportunities for high-achieving individuals from historically underrepresented groups to flourish in the classroom and in the financial services profession.
Through hands-on community work experience, the program offers young people the chance to develop and apply leadership abilities. It facilitates the employment, skill development, and service of community-minded high school juniors and seniors.
How much is the Bank of America scholarship?
The prize is worth $2,500 per year and may be renewed for up to four years, dependent on your results.
Financial needs, academic history, personal achievement, and community contributions will all be taken into account while reviewing your application.
Student Loans From Bank Of America
The Student Banking department of Bank of America is dedicated to meeting the needs of cash-strapped college students who are putting together higher education funding.
Several modern students obtain education funding from a variety of sources, therefore private financial aid options play an important role for a big number of college students.
Scholarships and grants are preferable kinds of financial aid because they do not demand repayment, however, loans are utilized to offset costs that are not covered by gift aid.
Bank of America is a student loan provider that provides educational loans in collaboration with the government.
Most federal loans, including Stafford Loans, PLUS Loans (for parents), Graduate Student PLUS Loans, and Federal Consolidation Loans, are handled by Bank of America.
The Education Maximizer Loan is a non-certified BofA loan that can be used to enhance federal loans and awards. Borrowers can utilize the funds for any education-related expenses that are not covered by federal aid.
Borrowing limits of up to $40,000 per year are available with these loans. Payments can be postponed until the borrower completes college.
Undergrad and grad students engaged in a variety of education programs, such as medical school, law school, MBA programs, and a variety of other fields, use Bank of America student loans.
Private loans have the advantage of being able to exceed educational expenses, allowing borrowers to deploy loan monies as they see fit. Private loans have higher interest rates, so this flexibility comes at a cost.
Supplemental Bank of America private loans do not require your school’s approval; they are provided separately. The CampusEdge Student Loan, for instance, is a federal financial aid package. It assists with costs associated with higher education, such as textbooks, transportation, dorm fees, and meal plans.
Bank of America offers student loan consolidation as a credit-saving alternative for students with several existing loans.