student room accounting and finance personal statement

Sample Personal Statement Accounting and Finance

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In personal statement samples by field.

The following personal statement is written by an applicant who got accepted to several top accounting and finance programs. Variations of this PS got accepted at the University of Michigan, Vanderbilt, and Indiana University. Read this personal statement to understand what a top essay in Accounting and Finance should look like.

Example Personal Statement Accounting and Finance

I have never made popular choices, whether academic or professional. Where high academic achievement irrefutably means pursuing a career in Medicine or STEM, I opted for a career in management. I was free to choose a path for myself, owing to my performance during an extensive pre-induction professional training program. Fortunately, I picked a path that everyone believed was insignificant.

My decision to move to a new city to pursue my path did not receive encouragement. Making my own decisions has given me the freedom to dream and make it a reality. It has strengthened my belief that I am the only one who can bring a difference for myself and those around me. Brazil’s institutions may seem frozen, yet, at the grassroots, Brazil is in perpetual motion with ceaseless creativity. To accelerate this motion, we need to bring better and more affordable solutions; I plan to do that.

Growing up in Brazil, I have constantly questioned why we are still not growing economically despite having abundant resources. I frequently discussed the economic factors affecting us with my father, leading me to work at local NGOs and attend voluntary programs. My interest intensified when I discovered during these experiences that the unequal distribution of resources was a major cause of our economic constriction.

Moreover, our medical, engineering and academic professionals would not work in rural areas due to a lack of facilities, further debilitating the imbalance. It made me realize that we could only reap the benefits of our efforts if there were a proportionate distribution of resources. Realizing how effective mobilization of resources can aid in eradicating social ills, I developed an interest in management. This equipped me with technical knowledge and provided room for opinion building.

Pursuing this path, I joined the leading undergraduate institution in the country. The zeal with which I made this decision led me to graduate summa cum laude. While studying, I taught communication skills to undergraduate business students from rural areas. Meeting these students compelled me to get involved even though I lacked formal teaching training. Through empathy and friendly get-togethers, I was able to help these students conveniently traverse in English. With this experience, I understood that my time and energy had been well spent and that as an agent of change, one does not necessarily need to be exceptional; instead, one requires creativity, patience, and emotional intelligence.

After graduation, I followed through with my goal of facilitating change by joining the banking sector as an accounting and finance trainee. By working in Brazil’s most vital financial sector, I was exposed to diversified experiences, from being as simple as issuing customer chequebooks to designing accounting and credit proposals to the tune of USD 1.2 billion. Furthermore, while working on individual projects, I developed an in-depth understanding of international accounting rules that regulated trade transactions; the learning opportunities were immense.

Two and a half years of experience in the finance sector brought me to work for the country’s central bank. The anxiety that accompanied moving away from home for the first time was overwhelmed by my professional and personal growth. Nine months of extensive training and on-the-job assignments exposed me to interminable learning opportunities. However, my real gain has been in the form of self-improvement and growth that accompanied my first experience living independently. Leaving the protective living that I enjoyed with my family is challenging, but it has developed and strengthened my capabilities of taking and owning my decisions. Above all, knowing that my family is not always around to guide me has instilled in me a greater sense of responsibility.

During the two a half years of experience in accounting and finance, I observed the financial exclusion experienced by some important yet financially constrained sectors of the economy. This exposure motivated me to join the Development Finance Department upon my appointment to the country’s central bank. Moreover, most of the firms operating in any country of the world are either small or medium enterprises. Thus, providing an enabling environment to such enterprises is significant for economic growth and employment generation.

In Brazil also, 90 percent of the enterprises are small and medium-sized, and lack of access to formal sources of finance is a significant impediment to these enterprises’ growth. Therefore, a huge room for improvement is available concerning the development of policy framework and market infrastructure for the financial inclusion of this sector. As a part of the central bank, I have been allowed to intervene in a system that is not effectively performing its role of financial intermediation. Innovation in financial products, development of accounting and risk mitigation strategies are requirements to alleviate this segment’s financial exclusion.

By broadening my exposure and enhancing my knowledge, I aim to equip myself better to address the shortcomings of one of the critical segments of the economy.

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Postgraduate accounting and finance personal statement example (mature student) 2.

As a senior student at the Management School in Jinan University, one of the oldest key national universities in China, I will graduate in 2010 with a diploma. However, I believe that will not be the end of my academic life.

To build up a great career upon my interest, I am now applying for advanced studies in your quality program, hoping that I can pursue a master degree of Accounting and Finance at the University of Adelaide along with a financial aid if possible.

During my undergraduate course, I figure out how and why I can succeed in financial world.

To some extent, I have a talent in mathematics which plays a crucial role in my academic achievement. I got full marks in Advanced Mathematics as the only person around the whole grade.

I have always had a logical, organised and practical way of thinking, as well as a competitive nature, and maths has always appealed to these characteristics.

Besides, I did a lot of readings in my spare time, which are related to the most recently events in Accounting Principles, Taxation Laws, and the World Financial Markets both Chinese and International.

Fortunately, I really enjoy myself in knowing the challenges of today's business and societies. By knowing these, I establish my career goal, to be an excellent CFO.

My education so far is characterized by indisputable excellence. During the first three years of my undergraduate studies, my GPA was consistently one of the highest in my class of 215 students.

In recognition of my outstanding academic record, the university has selected me to enter into graduate studies without the usually mandatory admission exams, a privilege given to only a few of the excellent students each year. I have, however, decided to turn down the offer. Because I believe the experience of studying in the University of Adelaide is more valuable for me.

Here are some reasons for my chosen of the University of Adelaide. First, she is third-oldest university in Australia and is known internationally for the quality of its programs.

Second, The Master of Accounting & Finance offers a combination of accounting and finance studies in order to enhance career prospects and extend knowledge of both disciplines. The courses you provide will strengthen my employability in the areas of financial management while providing a professional accounting qualification.

Furthermore, this program is designed to satisfy the academic requirements for associate membership of CPA Australia and the Institute of Chartered Accountants Australia (ICAA). That means the course I have will fulfill the requirements of both professional bodies.

As far as I know, the program is also recognised as a CFA Program Partner which is also an essential factor as I concerned. In addition to the reasons of the above, I really fancy to both the fabulous campus and the city of Adelaide.

I am anxious to study here in the University of Adelaide to achieve my career goals. Undoubtedly, I will try my best to complete this program swimmingly and honourablly.

Profile info

This personal statement was written by mimihuhu1987 for application in 2011.

mimihuhu1987's Comments

Please give me some advice to make it better.Thank you!

This personal statement is unrated

Related Personal Statements

One key point, at the end do.

Sat, 21/11/2009 - 12:55

One key point, at the end do not mention any university, i assume your applying to about 5 different ones, so if other universities read the p.s they won't be very happy and disregard your statement completely.

Same person from above

Sat, 21/11/2009 - 12:58

Sorry i jus read through it again, dont write about 1 university at all, as i said before you should be applying to about 5. And dont talk about the universities at all. Just talk about the subject and what you have done outside of school/ inside that makes you a good candidate.

The statement is pretty good,

Tue, 15/12/2009 - 05:13

The statement is pretty good, but you should really check your grammar.

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Personal statement example accounting and finance personal statement.

Submitted by Alex

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Accounting and Finance Personal Statement

Accounting is a necessary activity within everyday life, without which businesses would not be able to function. Management Accounting is the core operation of any successful enterprise. My interest began when I started a business at the age of fifteen buying and selling goods at a profit. I learnt to manage my profit by investing in goods with high customer interest and low costs. This made me realise the importance of money in society and promoted my desire to explore this subject further at university.

Mathematics has always been my strongest and favourite subject during my academic life and I believe my well-developed numeracy skills will help me advance in this course. By also studying Chemistry at A-level, I have developed my analytical and critical skills. I was able to put these skills to the test by participating in the United Kingdom Mathematics Trust Challenge three times and I look forward to tackling even more demanding challenges during the degree course. Economics A-level has allowed me to expand my knowledge on the basics of the economy and the high demands of consumers. I have independently developed a clearer understanding of the world of finance ; reading 'The Money Machine' expanded my perspective of the financial system in the City, making me aware of the importance of interest rates to a business and the influence on revenue.

I gained valuable insights into the world of finance by completing my work experience at accounting firms within the North West, where I was asked to complete annual reports for local businesses to assess their profits. During work experience at SL Accountancy Solutions I was surrounded by colleagues who spoke Mandarin to their clients. I found I was able to adapt to a foreign language environment and managed to communicate effectively with Mandarin-speaking clients through phone calls. Working among people who have the same interests as me and listening to their experiences made me even more determined to study Accounting and Finance at University level.

With the increasing interaction of global companies, understanding different cultures and languages is becoming a vitally important aspect of modern business. Through speaking fluent Cantonese and having lived in Hong Kong for 8 years, I can fully appreciate the variety of cultures within an industry and hope to utilise this valuable skill by working in an international corporation in the future. For the past three years I have volunteered at Barnardo's, dedicating several hours a week to helping my local community.

Working part-time as a sales associate at Hollister, alongside my studies, has advanced my abilities to interact with customers in a friendly manner and enabled me to manage my time wisely. I have taken on roles of responsibility in school such as being elected as form captain, which enhanced my organisational skills. Taking part in the Young Enterprise Scheme in the role of financial director allowed me to showcase my numerical and logical skills. I was able to present the accounts of the company and dictate where the costs were allocated. I enjoyed this role as it gave me a sense of control over the business. I worked in a team with fellow students in order to devise a business strategy to sell and advertise our handmade products. When the Managing Director left our group, I felt it was my duty to take charge and organise our company. This shows that I can adapt my role under different circumstances.

I was also selected by teachers as peer mentor for the new Year 7 students, helping them make the transition into secondary school, highlighting my ability to work with people of different ages. Being a fully committed and dedicated student I will persist until my ultimate goal is achieved. I am firmly convinced that my career lies in the field of accounting and finance and by following this degree course I will build a crucial foundation for my future.

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What is a payoff statement for student loans?

A student loan payoff statement comes in handy if you want to pay off your loan in full, refinance your debt, or qualify for a mortgage.

Rebecca Safier

Rebecca has over eight years of experience writing on personal finance and higher education. Formerly a senior writer for LendingTree and Student Loan Hero, she’s covered student loans, financial aid, personal loans, budgeting, and more. She loves helping people make informed financial decisions. When she’s not writing, you can find her blogging on her personal site Remote Bliss.

Renee Fleck

Renee Fleck is a student loans editor with over five years of experience in digital content editing. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Updated April 12, 2024, 5:50 PM EDT

Fox Money is a personal finance hub featuring content generated by Credible Operations, Inc. (Credible), which is majority-owned indirectly by Fox Corporation. The Fox Money content is created and reviewed independent of Fox News Media. Credible is solely responsible for this content and the services it provides.

A payoff statement reveals how much you owe on your student loans, including your principal balance, interest charges, and any fees. If you were to pay off the total amount on your payoff statement, you’d bring your balance down to zero and close out your debt. 

Here’s a closer look at student loan payoff statements, including when you might need one and how to request it from your loan servicer. 

What is a payoff statement? 

A payoff statement, also known as a payoff quote or loan verification letter, details the amount it would cost to pay off your student loan in full.

The amount on your payoff statement may be higher than your student loan balance . That’s because your balance represents the principal amount you owe, but it may not include all your unpaid interest or loan fees. By contrast, your payoff statement will include interest charges and any fees your loan has accrued. 

If you want to refinance student loans , take out a mortgage, or pay off your student debt in full, you may need to request a payoff statement from your loan servicer.

What does a payoff statement include? 

Your payoff statement will show how much you currently owe on your student debt. Specifically, you’ll see the following information: 

• Payoff amount: This is the total amount you’d need to pay to get rid of your student loans in full. It will include your principal balance, unpaid interest, and any fees. 
• Interest charges: Your statement will detail how much outstanding interest you owe on your student loans. 
• Fees: You’ll also see any additional fees, such as late payment fees, that add to your payoff quote. 
• Good-until date: Your payoff statement is only good through a certain date, since the amount you owe will change as interest accrues on your loans. If you’re looking to pay off your student loans in full, make your lump-sum payment before the good-through date so you don’t end up owing more money due to interest. 

Related: How to pay off student loans: 10 strategies to be debt-free

When to request a payoff statement 

There are a few circumstances that might require you to get a copy of your student loan payoff statement. Here are the main scenarios: 

• To pay off your loan early: If you have the means to pay off your loan in full, you’ll need a payoff statement to see the exact amount you have to pay. If you only pay your balance, you might still have to cover outstanding interest charges before your loan is fully paid off. A payoff letter will show you the total balance, interest, and fees you must pay to close out the account completely. 
• To buy a home: Your mortgage provider may want to see your student loan payoff statement to see how much you owe. They may use this statement to calculate your debt-to-income ratio and ensure you can afford to pay off a mortgage on top of your student loans. 
• To refinance your loan: When you refinance student loans , your new lender pays off your old loan and issues a new one in its place. Your refinancing provider may request your payoff statement so it knows the exact amount it has to pay your previous creditor. 

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How to request a payoff statement 

You can request a payoff statement from your loan servicer or lender, depending on whether you have federal or private student loans. 

• Federal student loans: Contact your student loan servicer or sign in to your online account for a payoff statement. If you're not sure who services your federal student loans, find this information by signing in to your StudentAid.gov account and clicking “My Loan Servicers” on your dashboard.
• Private student loans: If you owe private student loans , you can usually download a payoff statement or access your payoff amount by logging into your online account. If not, contact your lender or loan servicer directly. You can find your loan provider on your student loan statements or your credit report, which you can request for free at AnnualCreditReport.com .

If you have multiple student loans with one servicer, you can request payoff statements for each one, or request a single statement that outlines your total collective loan costs.

Advantages of an early payoff 

If you can afford it, there are several advantages to paying off your student loans ahead of schedule. Here are some ways that an early student loan payoff could boost your finances: 

• Save money on interest: The longer you’re in debt, the more you’ll pay in interest. Paying back your student loans early could save you hundreds or even thousands of dollars in interest charges. 
• Reduce your debt-to-income ratio (DTI): Having a high DTI can make it difficult to qualify for a mortgage or other type of loan. By getting rid of your student loan debt, you’ll lower your DTI and make yourself a stronger candidate for a loan. 
• Free up monthly cash flow: If you no longer have to make student loan payments every month, you’ll have more room in your budget for other financial priorities. 
• No prepayment penalties: There are generally no fees for paying off a student loan early, so you don’t have to worry that doing so will increase your loan costs. 

Disadvantages of an early payoff 

Be sure to consider the whole picture of your finances to determine whether paying off your student loans in full is the best move for you. Here are some potential downsides: 

• Potential financial risk: Paying off your loans early may not make sense if you’re using funds from your emergency savings, taking out another high-interest loan, or neglecting higher-priority debts like credit card balances or loans with higher interest rates. 
• You won’t be eligible for federal forgiveness: For borrowers with federal student loans, early repayment could mean missing out on significant benefits like Public Service Loan Forgiveness or forgiveness through Income-Driven Repayment (IDR). 
• You’ll lose out on tax advantages: By paying off your loans early, you’ll forfeit the opportunity to deduct up to $2,500 in student loan interest on your taxes annually.

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$10,000 up to total refinance amount

Min. Credit Score

on Credible’s website

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Borrowers who graduated with at least a bachelor’s degree may refinance their student loans with ELFI. Every applicant is assigned a student loan advisor to help guide them through the process.

Students who wish to take over their parents’ PLUS loan may do so by refinancing with ELFI — something not offered by every lender — but spouses can’t consolidate their loans into a single refinancing loan.

Unfortunately, ELFI doesn’t allow borrowers to release cosigners, nor does it offer any rate discounts. However, borrowers who experience financial hardship may be eligible for up to 12 months of forbearance.

Interest rates

Fixed and variable

Minimum credit score

Minimum income

5, 7, 10, 15, or 20 years for student loan refinancing; 5, 7, or 10 years for parent loan refinancing

Loan amounts

Minimum of $10,000 with no set maximum. 

Cosigner release

Eligibility

Must be a U.S. citizen or permanent resident with a bachelor’s degree or higher. Must have at least $10,000 in student loans to refinance and a minimum credit history of 36 months.

$5,000 - $250,000

Founded in 2009, LendKey partners with 300+ community banks and credit unions to connect borrowers with the loans they need. You can compare multiple lenders at once without affecting your credit score.

However, the exact terms and qualification requirements available through LendKey vary depending on your chosen community lender. While you can easily compare options, you’ll need to read the fine print of each offer to make sure the loan offers everything you need. 

Fixed or variable

Does not disclose

5, 7, 10, or 15 years

$5,000 to $250,000

Varies based on lender's terms

Must be a U.S. citizen or permanent resident and have already graduated with at least an associate degree from one of LendKey lenders’ eligible institutions.

INvestEd is an Indiana-based nonprofit lender that provides refinanced student loans nationwide. As a nonprofit, INvestEd offers competitive rates as well as an autopay discount. Cosigner release is also available after 12 on-time payments, which is less than many competitors.

However, the maximum refinance limit of $250,000 is below what other lenders may allow. Borrowers must also comply with strict credit and income requirements to qualify, or must have an eligible cosigner. While credit requirements are clearly defined, there’s no way to prequalify with a soft credit check.

5, 10, 15, or 20 years

U.S. citizens or permanent residents are eligible. Borrowers must meet minimum requirements including a FICO score of 670 or higher, annual income of $36,000, a debt-to-income ratio below 40% to 50%, a year of continuous employment, and no defaults or serious collection activities in recent years.

$7,500 - $200,000

EdvestinU is a loan program offered by Granite Edvance Corporation and offers affordable rates for refinance loans. Borrowers can refinance federal and private loans, and fixed and variable rate loans are available.

EdvestinU refinance loans are available to residents of about 20 states, and the lender has higher loan minimums and lower maximums than some competitors. Both of these factors limit who can (or might want to) refinance with this lender, but eligible borrowers do have various repayment term options.

 $7,500 to $200,000

U.S. citizens or permanent residents who are at least 18 years old and reside in Alaska, Arkansas, Colorado, Connecticut, Florida, Maine, Massachusetts, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Puerto Rico, Rhode Island, Texas, Utah, Virginia, Washington, West Virginia, and Wisconsin.

$10,000 up to the total amount

Not-for-profit lender Massachusetts Educational Financing Authority (MEFA) offers refinancing loans to student borrowers — and unlike many other lenders, you don’t need to have earned your degree to qualify. Only fixed-rate loans are available, but the rates are competitive and may be lower than what other lenders can offer. MEFA also doesn’t charge any fees or penalties.

Refinance loans start at $10,000, and you must have made six consecutive on-time payments on the original loans over the most recent six months. If you can’t qualify based on your own credit history, you can add a cosigner.

7, 10, or 15 years

$10,000 up to your total debt

Must be a U.S. citizen or permanent resident who is the primary borrower on education debt used to attend an eligible college or university. Must have made six on-time loan payments over the most recent six months. Must have no history of default or delinquency on education debt for the past 12 months and no history of bankruptcy or foreclosure in the past five years.

$7,500 - $250,000

Founded in 1981, Rhode Island Student Loan Authority (RISLA) is a nonprofit lender that offers refinance loans to borrowers in all 50 states. Though most private lenders require borrowers to have graduated to qualify for refinancing, RISLA also serves borrowers who didn’t complete their degree.

RISLA offers income-based repayment to borrowers in financial distress. Additionally, borrowers may also access up to 24 months of forbearance in the event of financial hardship. Borrowers who return to graduate school may defer repayment on their refinancing loans for up to 36 months.

5, 10, or 15 years

$7,500 minimum up to of $250,000, depending on degree

Borrower or cosigner must meet credit requirements. Student must be a U.S. citizen or permanent resident and have used original student loans to attend an eligible degree-granting institution.

$10,000 - $750,000

Citizens offers student loan refinancing to qualifying borrowers who refinance at least $10,000 in student loan debt. 

Undergraduate borrowers can refinance up to $300,000 in student loans, while those who borrowed for graduate or professional degrees have higher limits of $500,000 or $750,000. Citizens offers fixed and variable rates and repayment terms between five and 20 years.

If you’re a medical resident, you can refinance your student loans and only pay $100 per month for up to four years while completing your residency or fellowship. 

Fixed or variable 

5, 7, 10, 15, or 20 years 

$10,000 minimum, with a maximum of $300,000 for bachelor’s degree or below; $500,000 for graduate degrees; and $750,000 for professional degrees

Must refinance at least $10,000 in student loans and be a U.S. citizen, permanent resident, or resident alien with a valid U.S. Social Security number. Must have earned at least a bachelor's degree to qualify.

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