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Study in USA: CFA Institute Access Scholarship Program for Students from All Over the World | 2022/2023

The CFA Institute Access Scholarship Program is designed to make the programs more accessible to individuals who may not be able to afford the full program fees. 

About the Organization

The CFA Institute is a global, not-for-profit professional organization that equips investment professionals with financial education. It seeks to advance the standards of ethics, education, and professional excellence in the global investment industry.

The organization offers the Chartered Financial Analyst (CFA) designation, the Certificate in Investment Performance Measurement (CIPM), the Certificate in ESG Investing, and, till December 2021, the Investment Foundations Certificate.

CFA Institute provides resuming education conferences, seminars, webcasts, and publications to allow members and other parties to stay current on developments in the investment industry. 

The organization also manages the CFA Institute Research Challenge for university students and the Research Foundation of the CFA Institute.

The headquarters of CFA Institute is in Charlottesville, Virginia, United States, with other offices in New York City, Washington, D.C., London, Hong Kong, Mumbai, Beijing, Shanghai, and Abu Dhabi.

Margaret Franklin is the current President and CEO.In the year 1947, four financial analyst societies—Boston, Chicago, New York, and Philadelphia—teamed with the intent of encouraging the exchange of ideas and supporting the welfare of their profession. 

Then, in 1962, some of these financial analysts formed the Chartered Financial Analyst (CFA) designation and set a code of conduct. The following year, the profession was regularized when 284 candidates sat for the first CFA exam and 268 CFA charters were awarded.

Hence, in 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute. In February 2019, the United States Department of Justice declared it would fine CFA Institute more than $320,000 for discriminating against skilled American workers by hiring temporary foreign workers through the H-1B visa program.

Furthermore, given the COVID-19 pandemic, the CFA Institute has canceled the majority of the examinations around the world due to the lack of examination facilities in 2020. 

By 2021, all examinations will be computer-based testing for the three levels of the CFA program. In March 2021, the CFA Institute established the Certificate in ESG Investing due to the increasing volume of environmental, social, and corporate governance (ESG) factors in socially responsible investing.

Worth of the Institute Access Scholarship Program

The Access Scholarship Program covers the one-time CFA Program enrollment fee (if applicable) and reduces the exam registration fee (which includes access to the curriculum eBook) to US $250.

Eligibility for the CFA Institute Access Scholarship Program

To protect the integrity of the CFA Institute Access Scholarship Program, the following Official Rules (“Rules”) shall bind all participants in the Program:

  • Scholarship candidates may be either new or existing ones in the CFA Program.
  • There is no minimum or maximum income or asset level for scholarship prospects.
  • Candidates are not qualified if their present employer provides any financial assistance for participation in the CFA Program.
  • Candidates can only receive one CFA Institute Access Scholarship Program per calendar year.
  • A candidate may only receive one scholarship per exam, so if a candidate applies for both an Access and an Awareness Scholarship and receives an award, the remaining applications will be null.

Scholarship Program Interview Date, Process, and Location

  • Applications will be examined by CFA Institute and/or a local CFA Institute Member Society in the scholarship candidate’s geographic area.
  • While financial need will be strongly regarded, awards may be made based on a combination of factors which include financial need; the academic, professional, or other achievements of the candidate; barriers overcome by the candidate; contributions to the local community; the candidate’s interest in pursuing the CFA charter; and other personal attributes that demonstrate the individual is a strong candidate to receive an Access Scholarship Program and become a CFA charter holder.

Note that once your application has been processed, you will be informed of a decision by email. Candidates can expect a decision no later than July 31, 2022.

The application deadline for the scholarship program is June 13, 2022.

How to Apply for the CFA Institute Access Scholarship Program

Log in and complete the CFA Program Access Scholarship Application. Candidates can expect an assessment decision no later than July 31, 2022.

For further information, click here.

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