CFA
Scholarship
Everything you need to know
Source: CFA Institute, Selected Candidate, Ishaan Arora, The Valuation School,
Aaditya Iyenagar, Etc.
1. Key Pointers
01
The CFA L1 will cost you around 1290$ ($ 940 + $ 350) or
1600$ (late fees) for both Exam and Registration but here
comes scholarships.
There are 5 types of scholarship:
Women Scholarship (Working or Student).
Regulators like RBI, BSE, SEBI, etc Employees.
Professors of qualified institute.
Student scholarship is only for mostly IIMs, Christ, DU
PG, etc.
Access scholarship for other folks.
The Student and Women will reduce the fees to 400$ for
both Exam and registration.
The Access scholarship is the one is most sought after
which reduces the fees to 300$.
For majority of the scholarships you have to Write an
impactful essay depicting the need and desire of the
same.
Key is the essay here.
Also reference of 2 people is also needed. from your
Colleagues, Mentors, Professors, Professional, etc.
02
The people who don’t get through the scholarship wont
be charged for the late registration exam fees for the next
window.
The scholarship is valid for next 5 windows.
The first window for the CFA Scholarship is opening from
20 Sep, 2023.
The result should be expected somewhere in Nov - Dec
2023.
If you apply now and the window in May’24 then the
amount is 940 $ for Exam L1 (Early Reg) + 350$ for
Registration.
The scholarship will reduce the amount to just 300$ for
access and 400$ for women and student.
Close to saving of 80,000Rs and 1,08,000Rs (Late).
2. Access scholarship.
03
Everyone should at least try because the program is
expensive.
- You should not have registered for their exam
already.
- Access scholarship is applicable for all levels.
- Those who plan to appear in between the next 5
windows.
This program is for individuals who may not be able to
afford the full fees.
It is given to make the program more accessible.
The CFA Level 1 will cost you around 1.3 Lakhs Rs but
can be reduced to 25000 Rs with Scholarship.
Early Bird - 940$
Standard One - 1250$
+ Registration Fees - 350$
The access scholarship is the one is most sought after
which reduces the fees to 300$ and the key is the essay
here.
“CFA Program enrollment fee is waived and exam
registration is reduced to $300” - CFA Institute
04
Reference of 2 people is also needed, They can be your
colleagues, professors, mentors, industry connection,
etc.
The result of the scholarship comes out after the expiry
of the early bird discount so it can cause an issue but
CFA Institute got your back.
The people who don’t get through the scholarship
wont be charged for the late registration exam fees for
the next window.
The scholarship is valid for next 5 windows.
The first window for the CFA Scholarship is opening from
20 Sep’ 23 - 20th Oct 23.
The result should be expected somewhere in Nov - Dec
2023.
2. Student scholarship.
CFA Program enrollment fee is waived and exam
registration is reduced to USD 400 - CFA Institute.
It is for those students who are currently attending an
affiliated university.
They have not yet registered for their next exam.
CFA Institute recognizes mostly PG Colleges /
Universities which mostly are IIMs, Christ, DU PG, etc.
05
2. Women scholarship.
06
It is for those women who are interested in earning the
CFA charter, do not qualify for other CFA Institute
scholarships.
Have not yet registered for their next exam.
CFA Program enrollment fee is waived and exam
registration is reduced to USD400.
Women (Working and Student) both can apply for the
same.
Two application windows will be offered during this
program year (1 Sep 23 – 31 Aug 24).
The first scholarship application window is now open and
will close at midnight ET on 8 Oct 20.
Once your application has been processed, you will be
notified by email.
You can expect a decision no later than 8 December
2023.
3. ESSAY
07
You have to write a 250 words essay to the institute
about your story and it should cover:
- Craft a story about your struggles.
- Why you need the scholarship.
- Highlight academic and professional achievements.
- Your character and how will the charter benefit both
the parties.
- Mention the family income and the need for funds.
- Do not repeat things.
- Never lie in any of these sections.
Read the next slides for in-depth information.
A. Your Story
08
The essay should portray your personal and academic
journey highlighting the key experiences.
Depict the Moments and Challenges that you have
faced during the process.
How will the CFA Charter will help in your finance
knowledge.
Your interest in core finance roles and what laid the
interest for pursuing the course.
Basically why do you need the scholarship and how you
are the right candidate.
The WHY.
B. Criteria:
09
Understanding what the CFA Committee is looking for in
the essay is very crucial.
Make sure to go through it once before writing it
Understand the specific things they look for.
C. Never Fake:
Honest and Transparent essay is very much required.
Do talk about your financial need and the struggles
during the journey.
They want to see the transparency from the candidate.
Don’t make up anything.
D. Social Work:
Highlight the things that you did to uplift the society.
It can be any volunteering activity or any NGO related
work or any social work.
It shows your character and the greater good.
Connect it with the program and the scholarship.
E. Achievements:
Here you have to elaborate and highlight on the
academic or professional highlights.
If you completed any other finance and accounting
professional qualification will give you points.
Use it as a medium to showcase your hardwork and
dedication to the respective field.
10
F. Passion:
11
Show them what does the charter means to you and
how will the scholarship uplift you.
Showcase your enthusiasm for the scholarship and
how will the program help in your long term goal.
The things that you want to achieve in your career.
G. Personal Touch:
Talk about your personality traits such as how
dedicated and resilience you are.
Give out specific instances or stories to back the claims.
H. Introduction
12
Write a attention grabbing and eye catching introduction
that sets the foundation of your story.
The word limit is 250 Words and try to draft it within the
Limit.
Present in a short and effective way.
I. Organize
Make sure the formatting is on point and there is no
grammatical errors while keeping the crispiness intact.
It should be well structures and should flow smoothly.
J. Review.
Get it reviewed by different professionals and
folks who have cracked it earlier.
Get their viewpoint and fine tune it.
13
CFA Institute Guide
Sample Essay
Source: Aaditya Iyenagar.
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