Scholarship funds are contributed by national corporate sponsors who commit their support to the professional advancement of young women. At the local, state, and national Miss America competitions, more than $40 million dollars are made available every year. A critical component of the over-all organization, this scholarship program enables recipients to apply these grants towards furthering their education and training which will greatly enhance the probability that they will achieve their ultimate goals. Any canceled or unused portions of the monetary grants are held in trust by the Miss America Organization for future awards.

The scholarship fund is based on a rich scholastic tradition that has been the cornerstone of the Miss America program since 1945. Today, educational advancement, achievement and public service continue to be the primary objectives of the Miss America Organization in the face of changing roles for women in American society.