Internship for Academic Credit

Gain practical, professional experience in conjunction with your academic development.

Learn more about the Costello College of Business' Internship for Academic Credit elective courses.

The Internship for Academic Credit course is a three-credit Costello College of Business elective course that allows you to complete an internship during a semester or module schedule for academic credit.  

You cannot register for any Internship for Academic Credit courses until you receive departmental approval from the Office of Career Services. The first step in getting departmental approval is to fill out an application form. The application is not competitive and is intended to help our office collect the information we need to determine whether you are eligible to take an Internship for Academic Credit course. 

Three credits of an Internship for Credit course earned with a C or higher may be applied to your concentration credits. If you complete another three-credit internship for credit course with a C or higher, those credits will apply as general elective credit only. Only one internship course can be completed per semester.  

BUS 492 will only count toward general elective credit, where the concentration specific 492 courses (ACCT, MGMT, etc.) will count towards the concentration credits.  

These courses are charged standard tuition and have associated coursework. View the sample syllabus in the Resources section of this page for more information. 

Requirements for Internship for Academic Credit 

Internship Requirements

  • The internship must be relevant to the course you are interested in taking. For example, to be eligible for ACCT 492, your internship must be relevant to the accounting field.  
  • Internships must be compliant with NACE Standards and approved by the Costello College of Business Office of Career Services. 
  • You must be able to work a minimum of 150 hours at your internship during the course to be eligible for credit.  
    • You may be able to use a full-time or part-time job to fulfill these requirements, depending upon the position. Students using a current place of employment instead of an internship (or similar opportunity) must diversify their skillset by taking on 150 hours of a new project or experience at their site related to the course or concentration. Students may not count their current responsibilities as time towards their requirements, only hours related to new duties or projects in alignment with this course. 
  • Your employer will need to be aware that you are seeking academic credit for your internship. You must get your employer’s signature on the experiential learning agreement, which our office sends via email while your application is being processed.  
  • You need to have a copy of an official offer letter or confirmation of employment that includes your internship duties or job description.  
  • Internships can be paid or unpaid.  
  • Internships can be virtual, hybrid, or in person.  
  • To be eligible for academic credit, internships must be concurrent with the semester enrolled. Retroactive credit cannot be granted for internships that have already been completed.  

Student Requirements for 492 Courses

To be eligible to receive academic credit for your internship in a 492 course, you must:  

International Students must show proof of CPT pre-approval from OIPS before being approved for the course. For more information about this process, please see the Frequently Asked Questions section of this page. 

Student Requirements for 292 Courses

292 Courses are only offered in the summer semester. 

To be eligible to receive academic credit for your internship in BUS 292, you must: 

  • Have a Bachelor of Science status in the Costello College of Business 
  • Have completed 24 hours of course credit or more 
  • Have a cumulative GPA of a 2.8 or higher 
  • Obtain an internship relevant to business 
  • Must have completed BUS 103 with a B- or higher 
  • Submit an internship application using this form

Student Requirements for ACCT 695 (MSA Graduate Field Experience)

  • Have a Master of Science in Accounting status in the Costello College of Business 
  • Obtain an internship relevant to your degree 
  • Submit an internship application using this form

Student Requirements for BMGT 692 (MSM Professional Development Experience)

  • Have a Master of Science in Management status in the Costello College of Business 
  • Obtain an internship relevant to your degree 
  • Submit an internship application using this form

Student Requirements for MSBA 692: Practicum in Business Analytics

  • Have a Master of Science in Business Analytics status in the Costello College of Business  
  • Obtain an internship relevant to your degree  
  • Submit an internship application using this form 

Application Deadlines

Note that these deadlines differ from the regular add/drop deadline to allow appropriate time for processing and verification, which can take 10 business days or more. Applicants must have completed and submitted their application by the deadline. Students are encouraged to let their supervisor know that they will need to verify the student’s employment as a part of the application process before submitting their application. 

  • Summer 2024: Wednesday, May 15, at 2 p.m. 

  • Fall 2024: Tuesday, August 27, by 11:59 p.m. 

  • Spring 2025: Tuesday, January 14, by 11:59 p.m. 

  • Summer 2025: Tuesday, May 20, by 11:59 p.m.


Frequently Asked Questions

How do I know if my internship is eligible for concentration credit?

Our staff evaluates your internship by looking to see if your job duties align with the knowledge, skills, and abilities you will gain through your concentration coursework and that will be relevant for careers in that field.  

ACCT 492: Record, analyze, interpret, and communicate financial and non-financial information; demonstrate specialized technical knowledge necessary for success in the accounting field including tax, audit, assurance, and government accounting practices. View example internships that qualify for ACCT 492 here. 

FNAN 492: Demonstrate, evaluate, and explain the risk-return trade-offs in finance. Conduct and effectively present financial analysis and research valuing complex projects, assets, securities, and firms. Understand the relationships among investors, firms, financial institutions, financial markets, and regulators. View example internships that qualify for FNAN 492 here. 

MGMT 492: Manage people and organizations, design and execute human resources processes and recruiting strategies. Build and grow businesses through consulting and entrepreneurship. View example internships that qualify for MGMT 492 here. 

MIS 492: Apply knowledge of information technology and business functions to understand its application in assessing, designing, and improving business processes. Manage database systems, networks, and websites; manage complex technology projects. View example internships that qualify for MIS 492 here.  

MKTG 492: Develop new products, build brands, set prices, create marketing communications and promotions, manage customer relationships, analyze consumer behavior and market trends. View example internships that qualify for MKTG 492 here. 

OSCM 492: Design and improve business models and processes; analyze supply chain operations; make optimal resource allocation decisions; manage projects, perform strategic and tactical planning. View example internships that qualify for OSCM 492 here

What do I need to do before I submit my application?

Before you submit your application, you should communicate with your site supervisor or manager that you are submitting an Internship for Academic Credit course application for your internship to avoid delays. 

To determine if your opportunity qualifies as an internship, please reference NACE (National Association of Colleges and Employers) Internship Position Statement and/or discuss with Career Services staff. Your internship should directly relate to your major/concentration and academic coursework. 

If the online form is not accessible for you, please retrieve a paper form at the Office of Career Services, located at Enterprise Hall 042. Please remember to have all appropriate handwritten signatures and attach the job description. Please return your completed paper application to Office of Career Services before the deadline for the semester/module you are applying for. 

Do I pay tuition for this course?

Yes, all Internship for Credit courses are charged standard tuition.  

If you have concerns about paying for the course you want to enroll in, you can contact the Financial Aid office by calling (703) 993-2000, emailing, visiting their website, or in their office in SUB 1 Suite 1100. 

Is there coursework?

Yes. All Internship for Credit courses involve assignments that you must submit to pass the class. You can see an example of the assignments you will get by viewing your courses’ syllabus. 

How does the course work?

The course operates on Blackboard. There is no in-class time, but you will communicate regularly with the instructor. This is a course for academic credit, and tuition is charged for enrolling in the course. Additionally, you will need to submit all assignments to be successful. You will receive a letter grade which will appear on your official transcript and calculate into their cumulative GPA. 

You must be able to complete the internship during the semester you are enrolled, retroactive credit is not granted. The course is available in the fall, spring and summer semesters. For summer internships, the course will follow the 12-week session schedule. 

Timesheet/Required Hours: You must complete 150 hours at their internship site to receive 3 credits. You must submit a signed timesheet to your instructor during the course. 

Assignments: You will complete reflective journals submitted on Blackboard. If you are completing an internship experience with a federal agency, you may be required to submit your journals to the agency for review prior to submitting them on Blackboard. Please review this with your employer and instructor. 

Evaluations: A mid and end of the semester evaluation is completed by the internship Site Supervisor, then turned in to the Instructor. You will also review and sign the evaluation. 

Research Paper/Project: You will complete a research paper/project related to your internship experience and major. Prior to submitting the research paper, you will submit a research topic for instructor approval. 

How do I check the status of my application?

Please call Office of Career Services at (703) 993-2140 or email

How do I obtain an Internship?

The Costello College of Business Office of Career Services can provide career guidance on how to obtain an internship related to your major/concentration. You are encouraged to use Handshake and attend networking events to meet with prospective employers. 

How do I register for the course?

You must receive departmental approval from the Office of Career Services by submitting an application to be approved. 

What should I know if I have an unpaid internship?

From the US Department of Labor regarding Unpaid Internships:  

This fact sheet provides general information to help determine whether interns and students working for “for-profit” employers are entitled to minimum wages and overtime pay under the Fair Labor Standards Act (FLSA).1 


The FLSA requires “for-profit” employers to pay employees for their work. Interns and students, however, may not be “employees” under the FLSA—in which case the FLSA does not require compensation for their work. 

The Test for Unpaid Interns and Students: 

Courts have used the “primary beneficiary test” to determine whether an intern or student is, in fact, an employee under the FLSA.2 In short, this test allows courts to examine the “economic reality” of the intern-employer relationship to determine which party is the “primary beneficiary” of the relationship.  

Courts have identified the following seven factors as part of the test: 

  1. The extent to which the intern and the employer clearly understand that there is no expectation of compensation. Any promise of compensation, express or implied, suggests that the intern is an employee—and vice versa. 
  2. The extent to which the internship provides training that would be similar to that which would be given in an educational environment, including the clinical and other hands-on training provided by educational institutions. 
  3. The extent to which the internship is tied to the intern’s formal education program by integrated coursework or the receipt of academic credit. 
  4. The extent to which the internship accommodates the intern’s academic commitments by corresponding to the academic calendar. 
  5. The extent to which the internship’s duration is limited to the period in which the internship provides the intern with beneficial learning. 
  6. The extent to which the intern’s work complements, rather than displaces, the work of paid employees while providing significant educational benefits to the intern. 
  7. The extent to which the intern and the employer understand that the internship is conducted without entitlement to a paid job at the conclusion of the internship. 

Courts have described the “primary beneficiary test” as a flexible test, and no single factor is determinative. Accordingly, whether an intern or student is an employee under the FLSA necessarily depends on the unique circumstances of each case. 

If analysis of these circumstances reveals that an intern or student is actually an employee, then he or she is entitled to both minimum wage and overtime pay under the FLSA. On the other hand, if the analysis confirms that the intern or student is not an employee, then he or she is not entitled to either minimum wage or overtime pay under the FLSA. 

Where to Obtain Additional Information:

This publication is for general information and is not a regulation. For additional information, visit our Wage and Hour Division Website: and/or call their toll-free information and helpline, available 8 a.m. to 5 p.m. in your time zone, 1-866-4USWAGE (1-866-487-9243). 


*Whether an internship is paid or unpaid, students will be responsible for the tuition associated with their Internship for Academic Credit course.  

What are the CPT Requirements for International Students?

If you are an F-1 student interested in one of the courses listed above, please secure your CPT pre-approval as soon as possible.

There are two phases to the CPT process. Phase I must be completed before submitting your application for the Internship for Credit courses. Phase II must be completed before the start of the semester approved to remain in the course. 

Phase I: Pre-Approval 

  • Meet with an OIPS Advisor to be Pre-Approved for CPT.  
  • Call 703-993-2970 to schedule an appointment with an advisor. You will be asked for your name, G-number, email address, and what you wish to discuss. 
  • You will need to do this before completing any other part of your CPT application. For your appointment with OIPS, have your position description available for the appointment, or be able to describe what you will be doing. 

Phase II: Application

Complete the CPT Application on the OIPS web site. 

  • Step 1: Provide your Academic Advisor/Department Chair/Dean/Internship Coordinator and Training Organization's emails: Please list Kaleb Lewis, Director of Costello College of Business Career Services,  
  • Step 2: Complete your portion of the form and upload your required documents. 
  • Step 3: Your Academic Advisor/Department Chair/Dean receives the form via email and completes their section. 
  • Step 4: Your Training Organization receives the form via email and completes their section. 
  • Step 5: OIPS reviews your application. 
  • Step 6: Once your CPT I-20 is ready you will receive an email from OIPS within 10 business days. 

I have a question not covered here. Who should I ask?

Our staff can answer any additional questions you may have about the Internship for Credit courses or application process. Call us at (703) 993-2140 or email