Internships are extremely competitive to get, especially during a global pandemic. Majority of the 19.7 million college students in the U.S. first target the big name company internships that offer high-paying summer roles, which leaves unpaid and underpaid positions largely ignored. Most small businesses and startups cannot offer big salaries or fancy intern outings, but still provide an amazing experience and even full-time job opportunities. With 86% of college students currently receiving financial aid or student loans to finance college,, unpaid and underpaid internships put those students between a rock and a hard place.
Enter university grant funding. Thanks to generous alumni donors, many universities provide grants to students who have accepted unpaid or underpaid internships. This allows students to have the financial means to support themselves while gaining work experience they would otherwise miss. Colleges offer funding in a variety of ways, such as grants and awards, and may be need-based, merit-based or industry-specific.
The process varies by university, but generally consists of an application process to ensure the student meets outlined qualifications and requires proof of an accepted internship. Some programs will also require additional materials, such as an essay submission or an example budget for how the money would be used. For U.S. based internship opportunities, the university career center typically manages the grant programs. If the internship is abroad, the study abroad office may manage the grants.
University Examples
Northwestern University’s career center runs a Summer Internship Grant Program:
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provides $3,000 to students completing unpaid internships
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career development programming throughout the summer
Middlebury College’s career center offers multiple grants to offset the expense of unpaid internships
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$1,000 to $3,000
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Students need to have already accepted an internship
The University of Texas at Austin Study Abroad Office has scholarships and stipends specifically for international internships:
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$200 up to $6,000
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four different funding categories – financial need, academic program/internship field, internship location and program provider
Colgate University offers many different summer funding options, some directly from the school and others from donors:
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Career Services grants for all majors and roles
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Aaron Jacobs ‘96 Fund for internships in finance or business fields
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Milhomme International Internship Program for students interning abroad
Penn State’s School of Liberal Arts has mulitple options:
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funding generally ranges from $100-$2500
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Chapel Executive Internship Program provides $5,000
Sage Corps
Sage Corps has worked with students receiving funding from many schools, including the University of Michigan through the College of Literature, Science and the Arts. The Opportunity Hub offers need-based Internship Scholarship that ranges from $500 to $7,500, with the funding amount determined on a case-by-case basis. These students also receive professional development resources through the school.
Harvard University’s Office of Career Services also approves funding for Sage Corps students during the summer. Any full-time student participating in an internship for 8 weeks or longer, in good academic standing, and has at least a semester left is eligible. Students receive $4,000 to cover program and miscellaneous expenses.
Student Story
Olivia Rosen, who majored in economics at Dartmouth College, participated in Sage Corps’ Buenos Aires program her Sophomore year.
“I’d always known I wanted to go abroad during my time in college, but at the same time, I wanted to develop my professional skills and prepare myself to enter the workforce after graduation. Sage Corps was a perfect fit where I could pair my interest in entrepreneurship with my desires for cultural immersion and adventure. Meeting so many great people through the program was icing on the cake!”
With a letter of support from Sage Corps, Olivia sought out funding opportunities on campus. “I applied for several grants through my college and was awarded funding through the Wiley Initiative Fund Grant, which greatly helped offset the cost of the program and travel expenses. While in Buenos Aires, I interned at Wayra, which is a start-up accelerator and I focused on helping them build out their portfolio metrics & translate pitch decks. After graduating from Dartmouth, I spent 3 years in private equity and am currently an operations manager at a San Francisco-based startup called Oliver Space. Sage Corps was an amazing way to get my foot in the door in the startup world while also building lifelong skills and memories through working and living abroad.”
How to Find Funding On Campus
We have created a resource that includes a list of universities that offer internship funding along with other private scholarships and grant opportunities. We’ve also added other ideas for how to fund a summer program or unpaid internship. As a first step, contact your career center or study abroad office on campus to learn more about funding opportunities for internships.
