You can be on Entrepreneur’s cover!

Need Help Paying for College? Win a Scholarship for Young Treps If you're a young entrepreneur who's planning to start college in the fall, this scholarship may be for you. But hurry, the deadline to apply is December 17.

By Kara Ohngren Prior

entrepreneur daily

What better way to encourage young entrepreneurs than by rewarding them with college scholarships?

Each year, the National Federation of Independent Business (NFIB), through its Young Entrepreneur Foundation (YEF), offers a varying range of 1,000 to $10,000 scholarships to students who have started their own business.

The program was established in 2003 to raise awareness among young people of the critical role that private enterprise and entrepreneurship play in the overall health of the country's economy. Since then, 2,500 graduating high-school seniors have received scholarships totaling $2.5 million. Nearly half of past recipients still run their own business today, according to a recent survey by the YEF.

Related: Want to Study Entrepreneurship? How to Get the Most Bang for Your Buck

"Entrepreneurship teaches creativity, hard work and problem solving. Starting and running a business is invaluable in paving the way for young people to become responsible adults," says Molly Young, YEF program manager. "By recognizing and rewarding entrepreneurial pursuits, we're encouraging young people to use entrepreneurship as a means to a better future for themselves and all of society."

The scholarship application deadline for this year's awards is Monday, Dec. 17. Applicants must be graduating high-school seniors who are entering their freshman year at an accredited two- or four-year university, college or vocational institute in the fall of 2013. They must also demonstrate entrepreneurial spirit and initiative through having established a business of their own.

Related: Could This Free Online University Be Your Next Start-Up Incubator?

Here's how to apply:

  • Application materials must be submitted by December 17, 2012.
  • The independent-selection committee will review all applications and select semi-finalists by mid-January, 2013.
  • All semi-finalists are required to be interviewed by an NFIB member.
  • Scholarships are merit-based, not based on financial need.

What other scholarships do you know of exclusively for young entrepreneurs? Let us know in the comments section below.

Kara Ohngren is a freelance writer and part-time editor at YoungEntrepreneur. Her work has appeared in publications including Entrepreneur Magazine, The New York Times, MSNBC, The Huffington Post and Business Insider.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

This Dad Started a Side Hustle to Save for His Daughter's College Fund — Then It Earned $1 Million and Caught Apple's Attention

In 2015, Greg Kerr, now owner of Alchemy Merch, was working as musician when he noticed a lucrative opportunity.

Business News

I Designed My Dream Home For Free With an AI Architect — Here's How It Works

The AI architect, Vitruvius, created three designs in minutes, complete with floor plans and pictures of the inside and outside of the house.

Business News

Adobe's Firefly Image Generator Was Partially Trained on AI Images From Midjourney, Other Rivals

Adobe gave bonus payments to people who contributed to the Adobe Stock database to train its AI, even those who submitted AI-generated images.

Leadership

6 Things That Will Tell You If You Are Destined for Leadership

These qualities are inherent in natural-born leaders.

Business News

Disney World, Disneyland Will Now 'Permanently' Ban Guests Who Tell This Lie to Skip Lines

The company rolled out changes to its Disability Access Services earlier this week.

Growing a Business

5 Ways to Maximize Your Returns at Live Conferences

Industry conferences can make or break your business, but careful planning is required to guarantee a return on your investment.