CFA Scholarship – Are you eligible for it?

Are you eligible for a CFA scholarship in India?

Portfolio Manager, Wealth Manager, Financial Planner, Trader, Equity Research, Analyst, Consultant

The above job profiles are just a few lucrative careers waiting for you after completing the CFA course. When you receive your certification, you become a part of an internationally acclaimed community of highly sought-after financial professionals. 

Your resume is enhanced by your new reputation. You have the opportunity to work in some of the finest corporations in the world. There’s scope for immense career advancement as your credentials enable you to aim for higher management positions in the industry. 

The program helps to sharpen students’ financial skills and strengthen their theoretical knowledge. It is a prestigious program with an impressive syllabus, high-quality standards and global reach. 

However, the course may be expensive for a few individuals. Many deserving students have the potential to excel in this course but lack the funds. The CFA Institute has issued scholarships to ensure the program is within reach of every individual. So you can now receive the esteemed CFA certification at a lowered cost. This ensures that the fees won’t prevent smart and hardworking applicants from getting their due. 

CFP scholarships

Depending on where you are in the world, the CFA course fees can total up to $2,000 to $5,000. Factor in the dollar to rupee conversation rate (which is steadily increasing) and you could pay over INR 1.5 lakhs to 3.5 lakhs. This is not a small sum of money. For some students, it is not feasible to arrange for funds. 

The scholarships help reduce the financial strain and offer a more reasonable rate for applicants. This way, nothing is stopping worthy students from achieving their career goals. 

The CFA access scholarship

Capable students who are unable to bear the cost can apply for the access scholarship. If you meet the standard requirements of the CFA course, register on the official CFA website. You must provide documentation about your financial situation, such as income and expenses. You also need to submit a personal statement that explains why you are an ideal candidate for this scholarship. This statement is very critical as it needs to convince the CFA board. So while it should sound professional, it can also be heartfelt. You can write about yourself, your struggles and your future goals. 

Important points about the scholarship:

  • The scholarship application process happens twice a year. If you miss it, you can wait for the next window to open up a few months later. 
  • The exam fees get lowered from $1000 to $250
  • You must enroll for the course within a time frame of 7 months or else lose the benefits
  • This scholarship is available twice a year within one-month windows

The CFA women’s scholarship 

This scholarship is for women who are interested in applying for the CFA but have financial constraints. You must register online, provide your details and write a personal statement. Ensure you articulate why you are worthy of this endowment. The CFA Institute is keen on encouraging more women to join the program. You can apply for this scholarship if you are not eligible for the others. 

Important points about the scholarship:

  • If accepted, you don’t have to pay the registration fees 
  • The exam fees get lowered from $1000 to $350
  • There are many short application windows opened throughout the year
  • You must enroll for the course within a time frame of 7 months or else lose the benefits

The student’s scholarship

Students studying in universities offering the CFA course can send their applications on the official website. You will need to submit proof that you are attending the CFA-affiliated college along with other documents such as financial details and your personal statement.

Important points about the scholarship:

  • If accepted, you don’t have to pay the registration fees 
  • The exam fees get lowered from $1000 to $350
  • You will have to check with your university when the application window is open
  • You must enroll for the course within a time frame of 7 months or else lose the benefits

The professor’s scholarship 

This entitlement is for individuals teaching full-time at higher institutions or in the administration department. You will require a certain number of credits to qualify. Visit the official website to figure out what your requirements are. You will also need to submit additional paperwork such as your university ID, official email address and proof of teaching qualifications. 

Important points about the scholarship:

  • If accepted, you don’t have to pay the registration fees 
  • The exam fees get lowered from $1000 to $350
  • The application is open for many months at a time but will have a deadline
  • You must enroll for the course within a time frame of 7 months or else lose the benefits

The regulator’s scholarship 

This scholarship is for employees of financial organizations that regulate the investment industry. If you qualify, you can visit the official website and apply. Alternatively, your company can nominate you. 

Important points about the scholarship:

  • If accepted, you don’t have to pay the registration fees 
  • The exam fees get lowered from $1000 to $350
  • You must enroll for the course within a time frame of 7 months or else lose the benefits

What are the criteria for the scholarships? 

Eligibility requirements for the CFA course

You can only apply for a scholarship if you have all the provisions listed below:

  • A bachelor’s degree 
  • A working passport
  • Professional experience in a company that amounts to 4,000 hours over three years 

Documentation needed

  • Proof of personal finances 
  • Specific achievement (preferably in the relevant fields)
  • Student or teacher identification 
  • Personal statement 
  • Previous academic records

How the qualification helps your financial career

Getting the CFA certification has multiple benefits such:

  • Lucrative careers with leading companies and banks in the financial industry 
  • In-depth knowledge and skills that have real-world applications
  • Global recognition as the CFA has a presence in over 165 countries 
  • You earn a good reputation in the job market as a CFA holder
  • You become an industry expert leading to opportunities to start your own firm, become a consultant or even a professor with a leading university 

What you should know before applying 

Don’t register for the exam before applying for the scholarship

If you do, you will forfeit any chances of getting the lowered amount. Also, if you apply before getting the scholarship, you end up paying the entire amount. There is no refund later. 

Enter all financial information in dollars

Since the board is in the USA, they will require you to mention all amounts using American currency. You will have to make the conversion from Indian rupees.

Company sponsors are not accepted

If your employer is paying for the course, then you are not eligible for any of the scholarships

Only one scholarship a year is allowed

So don’t try to register for more. If you are not selected, you can reapply again.

The scholarships have an expiry date

If you get through, your grant is only valid for one year and up to 5 exam windows. After that, it doesn’t apply anymore. 

Your personal statement is important 

You can include information about your finances, academic background and achievements, challenges you’ve encountered and why you want to become a CFA holder. Also, showcase your personality and passion as much as possible. You have to show the board how much you want this.

It is valid for all three CFA levels

You get the reduced rate for CFA level 1, level 2 and level 3 exams

In conclusion

The CFA institute prides itself on being accessible to all students irrespective of economic or national background. The scholarships are a stepping stone to a fantastic financial career, brimming with opportunities. So if you’ve been considering applying for a Certified Financial Analyst Course, why not try for one of the best? 

Find out more about the CFA program here