CFA Scholarship 2024 | LATEST UPDATES | Eligibility, Fees, New Rules, How to Apply?

Summary

This video provides a comprehensive guide to CFA scholarships, detailing the types of scholarships available, including the Professor, Student, and Access scholarships. It explains how to apply for them, eligibility criteria, and tips for maximizing your chances of success. The video also covers important aspects like reduced exam fees through scholarships, how to navigate early bird and regular registration, and alternative funding options if you don't qualify for a scholarship. Viewers are encouraged to be honest in their applications and take advantage of employer funding or student loans if necessary to pursue the CFA program.

Takeaways

• 😀 The CFA program has become more expensive due to a recent fee hike, with registration fees increasing to $290 for regular registration and $40 for early bird registration.
• 😀 Scholarships for the CFA program have undergone significant changes, with two types of scholarships (Women Scholarship and Regulator Scholarship) being discontinued.
• 😀 If you are eligible for CFA scholarships, your exam fees can be reduced to $400, instead of the full price of $700 or more, saving a significant amount.
• 😀 There are three main types of scholarships: Professor Scholarship (for educators), Student Scholarship (for students in affiliated universities), and Access Scholarship (for financially disadvantaged candidates).
• 😀 The Professor Scholarship targets university professors who teach certain subjects and offers reduced exam fees, with an application window from September 1 to July 31 each year.
• 😀 The Student Scholarship is available for students enrolled in CFA-affiliated universities, and the exam fees are reduced to $600, with the $50 enrollment fee waived.
• 😀 The Access Scholarship is the most competitive and grants the largest fee reduction (down to $400), but requires applicants to demonstrate financial hardship or exceptional potential in the field.
• 😀 Applying for scholarships early is important to avoid missing early bird registration deadlines, which can significantly reduce your fees.
• 😀 If you apply for a scholarship and miss the early bird registration, you can still pay the early bird fee if your scholarship application is unsuccessful. You need to email CFA Institute to clarify the fee.
• 😀 In case you are not eligible for scholarships, you can explore employer sponsorships or student loans to cover your CFA program fees. Many employers, especially in finance-related fields, may cover the cost of your CFA registration.

Q & A

What are the main scholarships available for the CFA program?

The CFA Institute currently offers three main scholarships: Professor Scholarship, Student Scholarship, and Access Scholarship.

Who is eligible for the Professor Scholarship?

The Professor Scholarship is for professionals who teach at accredited universities, regardless of whether they teach full-time or part-time. Applicants must complete a minimum number of credit hours to be eligible.

How much does the CFA exam cost without a scholarship?

The CFA exam costs $900 for the exam registration fee and a $450 one-time enrollment fee. If you miss the early registration window, the exam fee increases to $1,290.

What is the main benefit of applying for a CFA scholarship?

The main benefit of a CFA scholarship is the reduction in exam fees. For example, with an Access Scholarship, you would only need to pay $400 instead of the full $900 exam fee.

How can you improve your chances of getting the Access Scholarship?

To improve your chances of securing the Access Scholarship, you should demonstrate your potential for excellence, not just financial need. This includes showcasing your academic achievements, work experience, and how you've overcome challenges in your field.

What should be included in a strong Access Scholarship application?

A strong Access Scholarship application should focus on how you have excelled in your studies or career, the challenges you’ve faced, and how you overcame them. It should show that you are a good investment for the CFA Institute based on your potential and profile.

What is the Access Scholarship's application window?

The Access Scholarship application window is aligned with the CFA exam registration dates. It opens multiple times a year, depending on the exam cycle. Make sure to check the CFA Institute website for the specific deadlines.

What should you do if you don’t qualify for any CFA scholarship?

If you don't qualify for any CFA scholarship, you can look for employer sponsorships, as many finance companies are willing to pay for their employees' CFA exam fees. Alternatively, you can explore student loans to cover the costs.

Can you apply for the CFA scholarship and still pay the early registration fee if you miss the response deadline?

Yes, if you apply for a CFA scholarship and miss the early registration response deadline, you can still pay the early registration fee. The CFA Institute will allow you to pay the early registration fee as long as you applied during the early registration window.

What happens if you pay the exam fee before receiving the scholarship response?

If you pay the exam fee before receiving the scholarship response, your scholarship application will be voided. It's important to wait for the response to ensure your application is still valid.