Students are always in need of funds to pay for their tuition and to cover their living costs. Unfortunately, even with student loans and help from parents, there are many students who still fall short, and are at risk of dropping out. The good news is that businesses can step in and help deserving students achieve their academic goals. Here’s how businesses can help students fund their education.
Hiring students to work part-time
One of the main ways that businesses can help students is to provide them with an income, and that means giving them part-time jobs. Although students have demanding schedules, most of them can still find time for a part-time job. As a business owner, you can hire students and put them on a flexible part-time schedule so that they don’t fall back on their academic work. Businesses that are located close to campuses are traditionally more preferable places of work for students, but thanks to telecommuting technologies, students can now work part-time for companies from anywhere. It’s easy to find students who are eager to work part-time to pay for their education. Businesses can advertise on job websites and local publications, or they can even set up job fairs at universities and colleges.
Setting up scholarships
Businesses can set up partial or full scholarships for students who need money. Many businesses do this as part of their corporate social responsibility program (CSR), as a way to give back to the communities that support them, purchase their products, or use their services. By providing scholarships for needy local students, businesses can raise their profiles and foster lasting positive relationships in the communities in which they operate. For businesses, scholarships are a form of investment because they increase brand awareness among young students who could potentially end up either working for them or using their products and services.
If you are a student and you need help funding your education, you can take advantage of corporate scholarships. These opportunities can help to foster the next generation of business leaders and entrepreneurs. As a student, your best play is to apply to all the scholarship programs for which you are eligible so as to increase your chances of getting the funding you need for your education.
Getting involved with work experience programs
Employers are keen on work experience, which is why many colleges and universities include work experience programs as part of their higher education curriculum. Businesses take part in work experience programs not just to help students gain much-needed experience, but also to help them earn a little money which they can use to pay for their education. Most work experience programs involve placing students in formal work environments for short periods of time so that they can apply the knowledge they’ve acquired in class in a real-life work environment. This drastically improves their chances of getting jobs once they finish their education. Businesses can choose to pay students who are on work experience programs rather than have them work for free.
Setting up cash prize competitions for students
Businesses can help students fund their education by sponsoring student-friendly contests with cash prizes. Student contests come in many forms, including quiz challenges, essay writing contests, innovation challenges, among many others. Businesses can use such competitions to boost their brand awareness among young people while at the same time helping deserving students.
Essay writing contests are common because they are very easy to organize. Businesses usually come up with essay topics and they set up parameters such as the length of the essay, the due date, mode of submission, and cut off ages for participants. The students with the best essays get the cash prize, and they may have their essay published on the business’s website, a newspaper or a magazine. If you are a student looking to make some money by participating in essay writing competitions, you can find some more ongoing contests here.
What’s in it for the businesses?
By sponsoring students and helping to pay for their education, businesses can benefit in many different ways. The businesses get the chance to choose the best students in their fields and to cultivate and nurture their interest so that by the time the students graduate, they are more inclined to opt to work for those businesses. Sponsoring students also raises the profile of a business in the community because it shows that the business is committed to advancing education. In any case, the goodwill that a business generates by helping students pay for their education is a worthwhile investment in the future of that business.