The Chartered Financial Analyst course is one of the most preferred courses in finance due to the salary package CFAs receive on successful completion of their course. Even students who have done their graduation in Art and Science related streams can choose to pursue CFA after graduation because it offers several exciting job opportunities in the stream of investment. As per the CFA institute, in 2021, there were about 28,849 candidates throughout the globe who sat for the CFA Level 1 examinations in the July testing window. Since the Chartered Financial Analyst examinations aren’t that easy to clear, there was an overall passing rate of only 22%.
There are various things to consider before you apply for the CFA exams like the coaching institute, the ideal study plan, jobs you can get after CFA and the total fees of the CFA exams. However, when it comes to the course fees, you’d be happy to know that the CFA Institute provides certain scholarship programs to students.
Before we take a look at the scholarship programs, let’s first understand the breakdown of the CFA course fees.
CFA Level 1 Course Fees
Chartered Financial Analyst has three levels with 10 papers in each level. You can appear for the second level only after completing the first one. The course fees for each of these levels differ from one another. Here’s a look into the fees breakdown of the CFA level 1.
|CFA Level 1 Fees Breakdown||Fees|
Early registration fee: $700 USD
Standard registration fee: $1,000 USD
Different Types Of CFA Scholarships And How To Apply For Them
If you’ve decided to take up CFA as your professional course and the fees seem to be getting in the way of your learning journey, you must be wondering if there is any scholarship in CFA? The answer to that question is yes. There are several scholarships available for CFA. Here’s a detailed list of all the scholarships and how you can apply to each of them.
1. Access Scholarship
The Access Scholarship Program is designed for students who can not afford the CFA program fees. With this scholarship, the student will only have to pay 250 USD for the exam registration fee which is usually $1,000 USD. And also, the enrollment fee of $450 = INR 34,000 is completely waived off, & you only need to pay a balance $250 = INR 19,100
How to avail this CFA scholarship: To avail this scholarship you will be expected to submit and state all of your financials, for example: family income and the current assets of your family. Additionally, you need to write an essay which states why you as a candidate deserve this scholarship.
2. Women’s Scholarship
The Women’s Scholarship Program, as the name suggests, is specifically designed to encourage women to sign up for the CFA program. Under this scholarship program, you will only have to pay 350 USD= INR 26,752 as exam registration fees which is usually $700= 53,000. The enrollment fee of $350 = INR 26,812 is completely waived off as well.
How to avail this CFA scholarship: To be eligible for this CFA scholarship, you need to be a woman who isn’t eligible for any other CFA scholarship. You must not apply for the CFA program until you receive your scholarship award.
3. Student Scholarship
If you are currently a student and are enrolled with a University affiliated with the CFA Institute, then you may be eligible for the Student Scholarship Program. With this scholarship, your enrollment fee of $350 = INR 26,812 is waived and you are only required to pay $350 as registration fee instead of the $1,000 USD registration fee.
How to avail this CFA scholarship: Students currently attending an Affiliated University and have not yet registered for their next exam are eligible to apply for a CFA Program Student Scholarship. Students must also satisfy the enrollment criteria and requirements for the CFA program.
4. Professor Scholarship
If you are currently working as a professor at a college or a university and you teach subjects like finance, economics, business, or any of the topics from the CFA Program Candidate Body of Knowledge (CBOK). Under the Professor Scholarship Program, you are only required to pay 350 USD as your registration fees.
How to avail this CFA scholarship: To avail this scholarship you must be a full time professor, administration or department head at college or university. They should have the minimum number of credit hours for the scholarship eligibility.
5. Regulator Scholarship
A Regulator Scholarship is designed for those working in a company that is responsible for overlooking the standards of practice or business conduct of the investment management industry. This could include financial regulators, central banks, securities commissions, stock exchanges, SROs and/or government entities that have an agreement with the CFA Institute. With this scholarship, your registration fees are reduced to 350 USD.
How to avail this CFA scholarship: This scholarship is awarded to organisations and not directly to students. To apply for this scholarship, your organisation must nominate you for it. For this, you must check with your HR or designated CFA representative.
We hope that with this information, you’re successfully able to pursue your dream of becoming a Chartered Financial Analyst. The Chartered Financial Analyst is a globally recognised qualification in the field of finance and investment. If you have recently completed your graduation or are appearing for your final semester, you may be eligible to become a CFA. Interested? We highly recommend checking out our Chartered Financial Analyst (CFA) course.
How can I apply for the CFA scholarship?
To apply for the CFA scholarship you need to register at the CFA website, create your account and submit your application. However, avoid registering for the examination before receiving your scholarship.
Can I do CFA for free?
You can apply for the Investment Foundations Program by the CFA institute for free and even get certified for this program.
Is the CFA level tough to clear?
The CFA level 1 can be tough to clear if the student does not have any academic background in the field of finance.