The CFA Institute Access Scholarship Program has been developed to make the programs more accessible to individuals who may not be able to afford the full program fees.
About the Organization
The CFA Institute is a global, not-for-profit professional organization that equips investment professionals with financial education. It seeks to promote standards of ethics, education and professional excellence in the global investment industry.
The organization offers the Chartered Financial Analyst (CFA) designation, the Certificate in Investment Performance Measurement (CIPM), the Certificate in ESG Investing and, until December 2021, the Investment Foundations Certificate.
The CFA Institute provides resume education conferences, seminars, webcasts and publications to enable members and others to stay abreast of developments in the investment industry.
The organization also administers the CFA Institute Research Challenge for university students and the CFA Institute Research Foundation.
The CFA Institute is headquartered in Charlottesville, Virginia, United States, with other offices in New York, Washington, DC, London, Hong Kong, Mumbai, Beijing, Shanghai and Abu Dhabi.
The current President and CEO is Margaret Franklin. In the year 1947, four firms of financial analysts—Boston, Chicago, New York, and Philadelphia—joined together to encourage the exchange of ideas and support the well-being of their profession.
Then, in 1962, some of these financial analysts formed the Chartered Financial Analyst (CFA) designation and established a code of ethics. The following year, the profession was legitimized when 284 candidates sat the first CFA exam and 268 CFA charters were awarded.
Therefore, in 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute. In February 2019, United States Department of Justice said it would fine the CFA Institute more than $320,000 for discriminating against skilled workers through U.S. workers by hiring temporary foreign workers through the H-1B visa program.
In addition, due to the COVID-19 pandemic, the CFA Institute has canceled exams in the majority of the world due to the lack of exam facilities in 2020.
By 2021, all exams have moved to computer-based testing for the three levels of the CFA program. In March 2021, CFA Institute established the Certificate in ESG Investing due to the increasing amount of environmental, social and corporate governance (ESG) factors in socially responsible investing.
The Access Scholarship Program covers the one-time CFA Program registration fee (if applicable) and reduces the exam registration fee (includes access to curriculum eBook) to US$250.
Eligibility for the CFA Institute Access Scholarship Program
To protect the integrity of the CFA Institute Scholarship Program, the following Official Rules (“Rules”) are binding on all Program participants:
- Scholarship applicants may be either new or existing to the CFA Program.
- There is no minimum or maximum income or asset level for Scholarship Prospects.
- Applicants are not eligible if their current employer provides any financial assistance to participate in the CFA Program.
- Applicants may receive only one CFA Institute Access Scholarship Program per calendar year.
- An Applicant can only receive one scholarship per examination, so if the applicant applies for both an Access Scholarship and an Awareness Scholarship and receives an award, the remaining applications will be nil.
Interview date, procedure and venue of the scholarship program
- Applications will be reviewed by the CFA Institute and/or a local CFA Institute Member Firm in the Scholarship Candidate’s geographic area.
- While financial need will be taken seriously, awards can be made based on a combination of factors including financial need. the candidate’s academic, professional or other achievements; obstacles overcome by the candidate; contributions to the local community; the candidate’s interest in Pursuing the CFA Charter; and other personal characteristics that demonstrate that the individual is a strong candidate to receive a Program Access Scholarships and become a CFA charterholder.
Please note that once your application has been processed, you will be notified of the decision by email. Applicants can expect a decision by 31 July 2022 at the latest.
How to Apply for the CFA Institute Access Scholarship Program
Log in and complete it Scholarship application for access to the CFA program. Applicants can expect an evaluation decision by 31 July 2022 at the latest.
For more information, Click here.
The application deadline for the scholarship program is June 13, 2022.
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