Scholarships
Overview of CFA Scholarships
The CFA (Chartered Financial Analyst) program is committed to increasing accessibility through various scholarships, including Women’s Scholarship, Student Scholarship, Professor Scholarship, Access Scholarship & Regulator Scholarship.
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Scholarship Types With Benefits & Eligibility Criteria
Scholarship & Benefits:
| Scholarship Type | Benefits |
| Access Scholarship | 1. Aimed at individuals with financial need. |
| 2. Open to those not currently enrolled in the CFA Program. | |
| Women’s Scholarship | 1. Specifically designed to support women worldwide. |
| 2. Promotes gender diversity in the finance profession. | |
| Student Scholarship | 1. Encourages students currently attending affiliated universities. |
| 2. Targets aspiring young professionals starting their CFA journey. | |
| Professor Scholarship | 1. Available to full-time college or university professors. |
| 2. Facilitates educators’ contribution to the finance education ecosystem. | |
| Regulator Scholarship | 1. Intended for employees of regulatory bodies in the finance sector. |
| 2. Supports professional development for regulatory professionals. |
Eligibility Criteria:
| Scholarship Type | Eligibility Criteria |
| Access Scholarship | Applicants need to demonstrate financial need and cannot be currently enrolled in the CFA Program. |
| Women’s Scholarship | Open to women around the world who are interested in earning the CFA Charter but require financial assistance to do so. |
| Student Scholarship | Students must be enrolled at an affiliated university and recommended by their academic institution. |
| Professor Scholarship | Professors must be employed full-time at an academic institution and actively teaching finance or related subjects. |
| Regulator Scholarship | Employees or members of regulatory bodies in the finance sector who wish to enhance their knowledge and skills. |
Application Process
CFA Fees Breakdown
The CFA program involves various fees, detailed below:
| CFA Access Scholarship | Other CFA Scholarships | |
| Fee | Amount | |
| Program enrollment fee | Waived | Waived |
| Exam fees (each level) | $300 | $400 |
| Fee | Amount |
| Program enrollment fee | $350 |
| Exam fees (each level) | $940 |
| Total for all levels | $1,290 |
👉Understanding these fees is crucial for candidates to ensure a smooth registration process and plan their finances for a rewarding finance career.
Different Types of CFA Scholarships and How To Apply For Them
Application Essay Format
13 Handy Tips & Advice for CFA Scholarship Application
1. Know the Application Form:
- Familiarize yourself with the application form. You can save your progress but must complete earlier sections before moving forward. It’s a bit of a hassle, but it ensures thoroughness.
2. Save Your Personal Statement:
- If required, type your personal statement in a word processor first for grammar and spelling checks. It’s also good to have a backup.
3. Craft a Unique Personal Statement:
- Focus on sharing your personal journey. Explain why you want the CFA charter and how it aligns with your career goals and financial needs.
4. Check Your Details:
- Ensure all information in your application is accurate before submitting. Once submitted, you can’t make changes.
5. Apply Before Registering for the Exam:
- Don’t register for the exam before applying for scholarships. If you do, you won’t qualify for the scholarship.
6. Wait for Scholarship Decision:
- Hold off on exam registration until you receive a decision on your scholarship application. If you register before hearing back, your application may be voided.
7. Get Your Passport Ready:
- You’ll need an international passport for exam registration. Make sure to have it ready well in advance.
8. You Can Apply More Than Once:
- If you don’t succeed the first time, don’t worry. You can apply for scholarships multiple times.
9. Apply for Multiple Scholarships:
- You can apply for more than one scholarship at a time. The most recently awarded scholarship will be applied if you receive multiple offers.
10. Watch Out for Double Dipping:
- If your employer offers reimbursement for exam fees, you may not qualify for a scholarship.
11. Budget for Additional Costs:
- Even with a scholarship, there are additional expenses, such as $150 for physical curriculum copies. Consider whether you need these extras.
12. Advice for Access Scholarships Applicants:
- The need for references has been removed. Estimate your income and assets accurately without worrying about minimum or maximum levels.
13. Make the Most of the Opportunity:
- If you’re awarded a scholarship, take it seriously. Study hard and show up for the exam. Not doing so could risk future opportunities.
Additional Terms & Conditions
| CFA Access Scholarship | Other CFA Scholarships | |
| Additional Terms & Conditions | ✔ Applicants must wait until scholarships have been given before registering for the CFA exam.
✔ Candidates are ineligible if they already receive financial support from their employment. ✔ Each candidate can be awarded just one Access Scholarship per calendar year. ✔ Candidates can only receive one CFA Institute scholarship for each exam. If a candidate wins multiple scholarships, the most recently given one will be considered. ✔ Scholarships stay valid for a year, and recipients have up to five test windows to redeem their award (depending on their level). ✔ Scholarships cannot be deferred. |
✔ Applicants must wait until scholarships have been given before registering for the CFA exam.
✔ Candidates can only receive one CFA Institute scholarship for each exam. If a candidate wins multiple scholarships, the most recently given one will be considered. ✔ Scholarships stay valid for a year, and recipients have up to five test windows to redeem their award (depending on their level). ✔ Scholarships cannot be deferred. |
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