Ace Your CFA Scholarship Essay with These 4 Proven Tips

Summary

In this video, the speaker discusses the Excess Scholarship offered by CF Institute, which is accessible to everyone, unlike student or professor scholarships. The application window opens in August 2024 for the May 2025 exam, significantly reducing the exam fee from $1,400 to $400. To improve chances of securing the scholarship, applicants are advised to clearly demonstrate financial need, commitment to the investment management profession, interest in the CFA program, and potential contributions to the CFA community. The speaker emphasizes the importance of a concise and focused application to enhance eligibility.

Takeaways

• 😀 The CF Institute offers an Excess Scholarship available to everyone, distinct from student and professor scholarships.
• 📅 Applications for the scholarship open in August 2024 for the exam in May 2025, and must be submitted within that specific window.
• 💰 If awarded the scholarship, recipients pay only $400 instead of the full fee of $1,400, providing significant financial relief.
• 📝 The application process includes filling out a form and writing an essay, which is evaluated by the CF Institute.
• ⚖️ Financial need is the first component to demonstrate in the essay, requiring applicants to provide objective figures about their income and expenses.
• 👨‍🎓 Applicants should highlight their commitment to investment management, showcasing relevant education, internships, or career aspirations.
• 📚 Showing interest in the CFA program is crucial; applicants should mention any courses taken or resources utilized related to CFA materials.
• 🌍 A unique factor for consideration is how applicants plan to contribute to the CFA community, such as mentoring or promoting the program in their country.
• 🤔 Simply stating financial need may not be sufficient; applicants should address all four components to enhance their chances of receiving the scholarship.
• 🔑 While these strategies can improve the likelihood of obtaining the scholarship, there are no guarantees, and applicants are encouraged to be thorough.

Q & A

What type of scholarship is being discussed in the transcript?

The transcript discusses the Excess Scholarship offered by CF, which is available to everyone, unlike student and professor scholarships.

When can applicants apply for the Excess Scholarship?

Applications for the Excess Scholarship open in August 2024, specifically from August 8th to August 26th.

What is the exam date for which the scholarship applies?

The scholarship applies to an exam scheduled for May 2025.

What is the financial benefit of receiving the scholarship?

Awarded applicants will only need to pay $400 instead of the full fee of $1,400 for the exam.

What are the four key components to include in the scholarship application?

The four key components are: financial need, commitment to investment management, interest in the CFA program, and contribution to the CFA community.

How should applicants demonstrate their financial need?

Applicants should provide objective data about their financial situation, such as their income and employment status, rather than just stating they need money.

What does the speaker suggest about demonstrating commitment to investment management?

Applicants should show their commitment through relevant actions, such as internships, coursework, or job applications related to investment management.

How can applicants show their interest in the CFA program?

Applicants can show interest by taking relevant courses, reviewing materials on the CF website, or participating in free online courses related to finance.

What is the significance of discussing contributions to the CFA community in the application?

The CFA Institute is interested in awarding scholarships to individuals who will actively promote the CFA program, making this a crucial part of the application.

Does the speaker guarantee that following these recommendations will result in receiving the scholarship?

No, the speaker emphasizes that while these recommendations can enhance chances, there are no guarantees for scholarship approval.