Financial Aid for Minority Students

Historically, minorities have been largely underrepresented in higher education. Recent census data illustrate staggering gaps between racial groups when it comes to educational attainment, with black students earning roughly half as many bachelor's and advanced degrees as white students. A similar study suggests economic and financial disadvantages contribute to this gap. The number of black, Hispanic, and Asian children who qualify as low income, poor, or in extreme poverty far outweigh their white counterparts.

These findings point to the importance of supporting minorities in higher education, especially in the field of psychology. Today, the major remains as popular as ever, with scholarships for minority graduate students in psychology on the rise. Aspiring psychology majors who happen to be African American, Latino/a, Asian American, Native American, or undocumented may pursue financial aid benefits for students with similar ethnic and cultural backgrounds. Psychology students can receive funding opportunities in the form of federal aid, scholarships, grants, loans, and work-study programs. Many programs prefer minority applicants who plan to serve their communities after graduation.