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Take Your Education In Accounting From The Red Into The Black

by MichelleConner

Education and income are tied closely together. Ask any accountant, and he or she will even provide solid financial proof. The greater the degree, the greater the average pay. This probably goes a long way towards explaining why accountants are very diligent about going on for their Master's, MBA and even PhD. Those interested will find information for accredited online accounting degree helpful as they progress.

Still, the rising cost of an advanced education makes going for that Master's or PhD highly prohibitive. This is causing accounting and similar majors to start employing a two-phase plan. The first is to seek out a company that offers some sort of tuition refund. Phase two is to seek any fellowships or assistantships that are out there. Further, with the cost of education on the steady rise, students are looking beyond their colleges to professional and philanthropic organizations.

For starters, there is the Deloitte Foundation. Over 100 different accredited universities have set up programs with this professional society. They are particularly interested in helping PhD candidates finish off the final year of their education, and they do this through a selection committee. As it stands, Deloitte selected 10 such candidates in 2011 and awarded them $25,000 each.

On a much smaller scale is the Michael J. Barrett Dissertation Award. This is a one-shot award ranging from $1,000 to $10,000, designed to help a doctoral candidate complete and present his or her dissertation. Last year, the Barrett awarded 10 such fellowships.

As it happens, there are also many liberal arts majors who then decide getting a post-graduate degree in accounting would be a wise move. To help these people along, the John L. Carey Scholarship was created. To qualify, an applicant must already have a degree in some form of liberal arts, and he or she must meet the American Institute of Certified Public Accountants (AICA) standards for becoming an accountant. Last year, the Carey scholarship ranged from $5,000 to $25,000 per student.

The AICPA is also responsible for the Fellowship for Minority Doctoral Students. It targets Latin, black, Asian or similar minority students pursuing their Master's or higher in accounting or auditing or planning on becoming an accounting teacher. The AICPA awarded 21 fellowships in 2011, which went as high as $21,000 per student.

There is also a fellowship designed for women in the accounting profession. The Education Foundation for Women in Accounting created the Laurel Fund, and it targets women who supply their resumes, transcripts and proof of enrollment at an accredited university and letters of recommendations. To qualify, an applicant must also create an essay explaining how obtaining the fellowship will help her with her personal goals and aspirations. If the applicant is accepted, she will get a fellowship for as much as $5,000. Searching for accredited online accounting degree shouldn't require much time or energy, and it could prove to be worth the effort.

About the Author: Frank Cole

As can be surmised, one of these fellowships will cut considerably the prospect of taking out any additional college loans, if not, get rid of them completely. From there, doing your online course work for getting an online Masters or more will then go on to increase your income to a much more comfortable level. You don't need an accountant to tell you what that will do either!

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Take Your Education In Accounting From The Red Into The Black