Many students in India want to become CFA charterholders. But the high cost of the CFA exam makes it difficult. So they often ask how to get a CFA scholarship to reduce the fee and move closer to their dream. If you also want to know how to get CFA scholarship, the answer is simple. You must apply during the CFA scholarship window by filling out the online application, meeting all eligibility rules, and submitting the correct documents. If the CFA Institute accepts your application, you will pay a much lower fee for the CFA exam.
CFA Scholarship Program Overview
Before you apply, you should understand the CFA scholarship program. The CFA Institute offers scholarships to help students and professionals who cannot afford the full CFA exam fees. These scholarships cover various categories like Access, Women’s, Student, Professor, and Regulator scholarships. Each one serves a different group of applicants and comes with a discounted registration fee.
Benefits of the CFA Scholarship Program
- Reduces exam fee from around $1200 to $250
- Waives one-time enrollment fee for Access scholarship
- Provides equal opportunity for candidates from low-income backgrounds
Types of CFA Scholarships
The CFA Institute offers different types of scholarships. You must choose the one that matches your background before you apply.
- Access Scholarship: This is for candidates who have financial difficulty. You must show proof of low income or hardship.
- Women’s Scholarship: Only female candidates who are not financially supported by an employer can apply.
- Student Scholarship: This is for full-time students at CFA-affiliated colleges. Applications go through the college.
- Professor Scholarship: Teaching staff at colleges who teach finance, economics, or business subjects can apply.
- Regulator Scholarship: Employees of government agencies or regulators working in finance can apply.
How to Get CFA Scholarship
You must follow a step-by-step process and apply online through the CFA Institute website. Following are the steps to apply for a scholarship:
- Visit cfainstitute.org
- Create an account or log in
- Go to the Scholarships section
- Choose your scholarship type
- Fill out your personal and academic information
- Upload necessary documents
- Write and submit your personal statement
- Submit your application before the deadline
Eligibility Criteria
Each scholarship has its own rules, but some eligibility criteria apply to all applicants. Following are the general requirements that an applicant has to fulfill to be eligible to apply:
- Age 18 or above
- Meet CFA exam registration criteria
- Not registered for current exam cycle
- No employer sponsorship (except Student Scholarship)
Documents Required
You need to upload clear and complete documents during the application process. These prove your identity, education, income, and eligibility. Given below is the list of important documents:
- Identity proof (Aadhar, Passport, etc.)
- Income proof (bank statement, salary slip, ITR)
- Academic records
- Proof of student or teaching status (if required)
- Resume or CV (optional but helpful)
Scan these clearly and upload them in PDF or image format. Keep them under the file size limit mentioned on the website. Missing or unclear documents can cause your CFA scholarship application to be rejected. So prepare carefully.
Personal Statement Tips
Your personal statement is a key part of the application. It shows your goals, struggles, and why you need help. The CFA Institute reads it carefully to judge your commitment and need.
What to Include:
- Your interest in CFA and finance
- Career goals and how CFA will help
- Financial challenges you face
- Any relevant experience in finance
Tips:
- Be honest and clear
- Avoid copying
- Keep it within 300-500 words
- Use simple language
CFA Scholarship Deadlines
Different scholarships have different application windows. You must apply within the CFA scholarship window for your chosen type.
Typical Timelines:
- Access Scholarship: Feb-May and Aug-Oct
- Women’s Scholarship: Open year-round
- Student Scholarship: As per university timeline
- Professor/Regulator: Open throughout the year
Mistakes to Avoid
Avoiding common mistakes helps improve your chances of success. Following are the common errors:
- Submitting incomplete applications
- Missing documents
- Applying after the deadline
- Writing poor personal statements
Improve Your Chances
Many candidates apply, but only a few get selected. You must make your application strong.
Tips to Improve Success:
- Apply early in the window
- Choose the right scholarship
- Write a strong personal statement
- Get your form reviewed by a teacher or mentor
How to Get CFA Scholarship FAQs
1. Can I apply for more than one scholarship?
No, you can apply for only one per exam cycle.
2. Is the CFA scholarship available in India?
Yes, Indian students can apply online.
3. What happens if I get rejected?
You can reapply in the next window.
4. How long does it take to get results?
Usually 2–3 months after the window closes.
5. Is the application free?
Yes, you don’t pay until selected and approved.
