Need Funding for Student Internships? Try These Seven Ideas!

Helping students access meaningful internships and other experiential learning opportunities can be exciting and sometimes challenging, especially when money gets in the way. Below are seven ideas for securing funding for these crucial experiences. Each idea includes a few practical resources and tips to make the process smoother.

1. Tap Into Government Grants & Databases

Government grants are an often-overlooked potential lifeline for funding work-based learning. Develop a database of federal, state, or local funding opportunities with your team or guide students through a search.

Here’s a head start:

• Department of Labor grants: Look into the DOL’s Employment and Training Administration for workforce development grants.
• Apprenticeship.gov: Explore registered apprenticeship grants that support on-the-job training, which can sometimes apply to shorter internships.
• The GoGovernment Federal Internship Finder: Search this centralized, free list of  government opportunities for students and new grads
• Local economic development offices: Check with city or county development programs. Beyond discovering possible financial support for your students, you might enhance your employer relations. 

2. Use University Resources

While you’re likely familiar with on-campus funding sources, reaching out might reveal new or in-development programs. It’s a worthwhile call or email if you find a way to help one student say “yes” to an unpaid internship.

So, humor us with this simple list:

• Financial aid departments might allocate scholarships or financial aid for internship expenses.
• Student success offices sometimes have small grants to cover living or travel costs tied to experiential learning.
• Honors colleges or programs occasionally provide stipends for career development. For example, the University of Miami College of Arts & Sciences’s “Beyond the Book Scholarship” enables students to pursue unique, intensive learning experiences beyond the lecture hall or lab. 

3. Engage Alumni and Development Offices

Alums who launched their careers from internships are often eager to open that door for undergraduates. Engage and encourage your graduates to:

• Contribute a portion of reunion fundraising to an internship grant.
• Support employer-based internship funds as available.
• Collaborate with university development staff to establish and promote grants.
• Become alum mentors who combine financial support with professional guidance.

4. Host Targeted Career Events

Specialized events that connect students with employers can also raise money for internships. Promote these programs as supporting internship scholarships via admission fees or voluntary contributions. Here are a few examples to bring recruiters, employers, and students together for a good cause:

• Industry-specific career fairs
• Career panels and workshops
• Co-hosted university-industry gatherings
• Student club collaborations with alumni
• A signature internship fundraising event

5. Seek External Funding

Explore the internet and your local community for foundations and non-profits dedicated to career development, educational equity, or skill-building in specific industries. These organizations often present scholarships as part of their 501(c)3 mission, so suggest that your students research:

• The Council on Undergraduate Research represents member institutions that support collaborative undergraduate research or scholarly internships.
• Professional associations like the American Marketing Association or IEEE sometimes award scholarships for student projects or internships.
• Grant databases like the Foundation Directory Online or Grants.gov simplify scholarship searches.

6. Partner with Local Businesses

Local associations are possible funding partners with the added benefit of networking with business representatives who might offer internships or hire graduating students! Consider connection with your area, including:

• Chambers of Commerce
• Small Business Development Centers (SBDC)
• Rotary clubs and civic groups
• Industry associations

7. Apply for Industry-Specific Grants

Tech, healthcare, and finance invest heavily in cultivating future talent. Look for grants from industry councils, companies, or associations invested in building strong workforce pipelines like:

• Tech industry giants, including Microsoft, Google, and accelerating start-ups, generally have initiatives for STEM education and internships.
• Healthcare organizations may support internships for students in nursing, public health, or pre-med programs.
• Environmental foundations often award scholarships, grants, or stipends for interns to work on green initiatives or community outreach.
• Professional conferences are known to sponsor travel or internship grants for students who participate or volunteer.

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Professional development is fundamental in career services and includes positioning students to accept unpaid internships and other similar opportunities. Work with your students to explore government grants, tap into alum relationships, and build strong connections with local businesses.

Demonstrating your students' value to employers who offer these hands-on career experiences could generate financial support. To secure experiential learning funding, think creatively and nurture long-standing relationships. 

Resources:

1. https://www.dol.gov/grants
2. https://www.apprenticeship.gov/about-us
3. https://gogovernment.org/federal-internship-finder/
4. https://www.as.miami.edu/academics/undergraduate-studies/scholarships/beyondthebook/index.html
5. https://candid.org/find-nonprofit-funding?gad_source=1&hsa_acc=7800317649&hsa_ad=570797231652&hsa_cam=8543247040&hsa_grp=81788333490&hsa_kw=foundation%20directory%20online&hsa_mt=b&hsa_net=adwords&hsa_src=g&hsa_tgt=kwd-96373733&hsa_ver=3