CFA Scholarships: How to Successfully Get Them

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Aside from the time commitment, there is a considerable cost to pursuing the CFA charter, especially for students. Level 1 enrollment and registration fees alone can be as high as $1,450, not including any third-party materials you might need.

Luckily, there are a variety of CFA scholarships available for candidates, allowing you to reduce the enrollment and signup fees to as low as $250. I was fortunate enough to be awarded Access Scholarships thrice, and in this article I’ll share my experience in applying and receiving one of the CFA Institute’s scholarships.

Here’s all you need to know about the 2022 CFA scholarship application process, and some sage advice to improve your chances of securing one!


First, a little about me

CFA Scholarships: How to Successfully Get Them 1

I’m Alexander Law, hailing from the greater Austin area in Texas. I recently completed by MS Economics at Baylor University, in addition to some elective coursework from the Baylor Law School.

​In my final year, I participated in a two-semester practicum course of Small Cap Investing, which is similar to the Phillip M. Dorr & Friends Large Cap Endowment Fund I served as an analyst for the Healthcare sector in the Fall of 2016, with proceeds going towards student scholarships.

In addition to my undergraduate background in finance, I also have strong academic and internship experience in the healthcare sector, and would ideally want to leverage this towards a career in the finance area of healthcare to help increase operational efficiencies. My pursuit of the CFA charter is also part of my aim to be better equipped to serve in this capacity.


CFA scholarships are undersubscribed, so grab the opportunity

I had a busy semester and was worried about whether my existing scholarships would make me less attractive for the need based portion of the CFA Access Scholarship.

My professor mentioned about the dearth of applicants for the Access Scholarship, which was encouraging since my local charter was a much smaller city than my professor’s charter.


The various CFA scholarships, explained

cfa scholarships explained

All scholarships also have varying deadlines, so make sure you understand them and apply early to stand a chance of receiving one.

Most scholarships are completed online, but some (e.g. Regulator Scholarship) will require you to email CFA Institute directly.

The main requirements and differences of all CFA Program scholarships are outlined below.

CFA Access ScholarshipOther CFA Scholarships
PurposeProvide financial support to those who may be unable to afford the full price for program enrollment and exam registration.​Role-based scholarships:
Women’s Scholarship

Student Scholarship – for students of universities participating in one of CFA Institute’s affiliate or partner programs

– Professor Scholarship – college or university educators

Regulator Scholarship – for employees for qualified regulatory agencies
Award AmountCovers the one-time CFA Program enrollment fee of US$450 (if applicable), and

Reduces the exam registration fee to US$250 (from $700-$1,000).
Covers the one-time CFA Program enrollment fee of US$450 (if applicable), and

Reduces the exam registration fee to US$350 (from $700-$1,000).
EligibilityApplicants must meet all CFA Program enrollment requirements.

Applications are evaluated on a financial need basis, but not necessarily the only factor considered.
Applicants must be in one of the roles in the scope of the individual scholarships, and meet all CFA Program enrollment requirements.​
Application Deadlines & Award CycleAccess Scholarship will reopen on 10 Jan – 14 Feb 2022, with a decision by 31 Mar 2022. This means that the earliest exam you can register for is August 2022.

There will be an additional application cycle of 9 May – 13 June 2022.

The application cycle for Access scholarship used to be annual, but CFA Institute hopes to move this to a rolling basis soon.

Given the various new 2022 exam windows, please check the CFA Journey Planner to plan your route to your charter.
With the new computer-based exams and exam schedule from 2021, the role-based scholarship programs are now considered on a “rolling” basis, and therefore no fixed deadlines are in place for each exam cycle.​

For some scholarships such as Student Scholarships, applications are managed by external institutions (universities), therefore response times vary by institutions.

Women’s Scholarship applications are reviewed by CFA Institute on a periodic basis.

Women’s scholarship applications are currently open since 1 Nov and closes on 28 Nov 2021 (midnight ET). Applicants will be notified of a decision via email no later than 18 December 2021. This means you will be in time to register for May or Aug 2022 exams.

The next cycle of Women’s scholarship applications will be accepted 1 – 28 January 2022.

Student/Professor/Regulator’s scholarship application are open since 16 September 2021.
Additional Terms & ConditionsApplicants must wait until scholarships are awarded before registering for the CFA exam.

Candidates are not eligible if already receiving financial assistance from employer.

A maximum of one Access Scholarship per candidate per calendar year.

Candidates can only receive 1 CFA Institute scholarship per exam. If a candidate receives multiple scholarships, the most recently awarded one will apply.

Scholarship recipients must register for a CFA exam within a defined timeframe (7 months) and before the expiration date listed in the scholarship award email.

Scholarships are not deferrable.
Applicants must wait until scholarships are awarded before registering for the CFA exam.

Candidates can only receive one CFA Institute scholarship per exam. If a candidate receives multiple scholarships, the most recently awarded one will apply.

​Scholarship recipients must register for a CFA exam within a defined timeframe (12 months) and before the expiration date listed in the scholarship award email.

Scholarships are not deferrable.​​

CFA scholarship application: 13 handy tips & advice

CFA Scholarship Application Tips Advice
  1. Know the form: You can save your current progress in the application for later and return to earlier sections of the form. However, you cannot proceed to a later section of the online application without first fully completing the earlier sections. This may be a small nuisance to some.
  2. Save your personal statement on your own platform: For applications that require a personal statement (e.g. Access and Women scholarships), we recommend typing up your 3,500 characters max personal statement on a word processor for grammar and spelling check, but more importantly to have a backup that you can easily copy over into your application later.
  3. What makes a good personal statement? Your unique story.
    • While this applies only to Access and Women scholarship applicants, our research suggests that the more personal your answer, the better.
    • CFA Institute is interested in learning about you, why you would like to earn the CFA charter and how it helps you achieves your goals. Tell them your story (succinctly)!
    • Here are some broad pointers that may help as a starting point:
      • how you found out about the exam and scholarship;
      • your career goals;
      • how the scholarship helps your financial position (i.e. why you need the scholarship);
      • the value CFA would bring (i.e. why you need the CFA charter);
      • An additional point for Level 2 and Level 3 candidates could include what you’ve learnt so far from the CFA exams and how it has been directly applicable for you.
  4. No changes allowed after submitting: Make sure that all the details in your application are correct before submitting.
  5. Apply for the scholarship(s) before registering for the exam. You don’t qualify for the scholarship if you have already registered for the exam, as it indicates that you do indeed have the ability to pay. However, if you do not receive a CFA scholarship, you can receive a partial discount on the registration fee so you won’t be paying the full late-registration fee.
  6. Wait for the scholarship decision before registering for the exam: Once you’ve applied for a scholarship, you will need to wait for an official decision on it prior to exam registration. Your scholarship application will be declined/voided if you’ve gone ahead and registered for an exam without a result on your scholarship application.
  7. Get your international passport done. You will need your international travel passport when registering and taking the CFA exams, as no other form of identification is valid. For those whom haven’t got a passport, this is something you should keep in mind, due to the length of time it takes to obtain or renew a passport.
  8. You can apply more than once: Fortunately, you can receive a CFA scholarship more than once, so provided that you qualify, it is worth applying again after your first exam. Even if you’ve failed an exam, you still can apply for a scholarship for your retake.
  9. You can apply for multiple scholarships at once: If a candidate receives multiple scholarships (of any kind), the scholarship that is most recently awarded will be applied.
  10. No double-dipping: You will not qualify for a scholarship if you start working for an employer that offers reimbursement for exam registrations, but of course you wouldn’t really need the scholarship in that case anyways.
  11. You still need some funding. Do also keep in mind that even with the scholarship, you still have to pay an additional $150 for the physical copies of the curriculum if preferred. The eBooks themselves are included in the registration fee, and it is worth worth trying out the digital version first before paying extra for the physical copies, as they are handy and easily accessible across different platforms. The eBooks are especially helpful when travelling abroad, although I personally prefer paper copies of textbooks whenever possible.
  12. Advice specifically for Access Scholarships applicants:
    • References: ​You will need to know the names, email and phone numbers of your references. So if you’re a student, make sure you know your professors well and that they are happy to provide a reference. Of course, you can also use professional references (apparently preferred). They don’t need to be CFA charterholders, but they cannot be a CFA Institute employee.
    • Gross household income and net assets: Firstly, there is no minimum or maximum income or asset level for scholarship candidates. Although this section may look thorough, just go through each category of income and net asset systematically, then add them up to form your best estimates in US$. Put what you think is most accurate and would be in line with the CFA Program Code of Ethics. You don’t need to send supporting documents unless requested, nor should you upload any documents that contain personally identifiable financial information.
  13. Wasting the scholarship is a costly decision: It also goes without saying that if you are awarded a scholarship, you should treasure the opportunity by studying hard, giving it your best shot and sit for the exam. Even worse, if you don’t turn up for the exam as a scholarship recipient, this may disqualify your future scholarship application(s).

Hope this helps with your CFA scholarship application. If you have further questions, leave a comment below – good luck!

Meanwhile, here are other articles which you may find interesting:

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192 thoughts on “CFA Scholarships: How to Successfully Get Them”

  1. Hi, I’m writing the Women’s Scholarship essay at the moment and I happened to come across some comments mentioning that one has a higher chance of getting the scholarship if one applies ASAP once the application window opens. If this is true, then I’m considering to apply for the next window (Jan 2022), but also I’m worried that I’ll miss the early bird deadline which caused me to pay 1000USD in case I don’t receive the scholarship. What should I do?

    Reply
  2. do you know what happenned to the access scholarship? they put program media scholarship instead when i sign in to my account

    Reply
    • CFA Institute have taken the Access Scholarship off for now. They keep saying it’s “coming back soon” but so far we’ve been waiting for about 7 months and counting…

      Reply
  3. Hii.
    I had apply for women scholarship..When can I expect a reply from them.And also will I be getting any update if they reject my application?

    Reply
    • CFA Institute has been changing the rules quite quickly on this, but we believe that you should get a response within max 12 weeks of applying. You will be notified whether you have been successful in your application, regardless of whether you were awarded the scholarship or not.

      Reply
  4. I have completed my graduation by opting for BBA (general) and got certification in the investment foundation course offered by CFA Institute. what is the chance that I will get the scholarship, or if it is less then what should I do to get the scholarship?

    Reply
    • There is no insight on how many scholarships are awarded nor award criteria. It’s entirely at the discretion of CFA Institute, so your guess is as good as ours.

      Reply
  5. Hello, i want to apply to the acces scolarship this fall, and im planning to take the exam in May-22. As i read, the outcome will be on 1st December; assuming that i don´t get the scolarship, will i be able to register to the May-22 exam or it will be too late?

    Thanks a lot!

    Reply
    • We don’t really have an actual schedule confirmed for the Access Scholarship – this has been delayed several times so I’m not actually certain that the Access Scholarship will be open for applications on time as planned.

      If I were you I would set a deadline for myself to wait for applications to open, and if that deadline is missed, you should think about registering without a scholarship anyway, if it’s possible.

      Good luck!

      Reply
  6. Hey! I just failed my level 1 exams , but however I’m trying to give it in Feb 2022 .
    I want to apply for the women’s scholarship that is available for us but while writing an scholarship letter should we have to mention about the failing of level 1 exams in the letter?
    Also what kind of documents should we have to submit?

    Reply
  7. Hi. I want to give the November 2022 attempt for CFA Level I. I was trying to apply for the women’s scholarship, however, the page isn’t opening and is showing some error. Please advice on what I sould do. Thank you.

    Reply
    • It seems to be working for me now. It’s also the last day of applications for this quarterly cycle, so make sure you get your application in ASAP!

      Reply
  8. I have given level 2 exam in Aug-Sep, the results of which will be declared by the end of October. I want to give level 3 in the May window so, should I apply before my results are declared or after it?

    Reply
  9. Hi, I am currently CFA Level 1 candidate and will be appearing for exam in November’ 2021. Am I eligible to apply for scholarship for Level 2 examination?

    Reply
  10. Hello, can I apply for scholarship and register in my second year of under graduation so that I can give my CFA Level 1 in my third year?

    Reply
  11. Hello, as it has been mentioned a couple of times that while waiting for scholarship results, if we are denied of scholarship, we get early bird registration offer for the next available exam. So, does this mean if I want to register for November but am denied scholarship and the early bird period has expired, i will get early bird for Feb exam only and not November (which is my preference)?

    Reply
    • You will get the early registration fee offer for the next available exam when you receive your scholarship application result. So if the standard registration for November is still open, you should be able to register for November with the early-registration fee.

      Reply
  12. Good evening and thanks for the insight.

    I am new to CFA and just planning to start. I however want to apply for women scholarship in September before anything.
    I don’t have any cfa account yet.
    Do I need to create an account before applying for the scholarship or i can just go ahead and apply for the scholarship 1st before anything?
    Kindly guide me through.
    Thanks.

    Reply
    • I believe you’ll need to create a CFA Institute account to apply for the Women’s Scholarship anyway. You’ll use the same account to register for the exam.

      Reply
    • You should be able to cancel your registration without penalty if you’re cancelling within 14 days of registration. Make sure that the scholarship you’re eyeing is accepting applications though – for example the Access Scholarship is still not open for applications.

      Reply
      • Has the cfa scholarship for feb 2022 been awarded yet and can we still get discount after the early registration passes

        Reply
        • CFA scholarships are awarded independently of the exam windows – there isn’t a CFA scholarship ‘for’ Feb 2022. Scholarship applicants do get offered the early registration discount even after the deadline has passed if they’ve been waiting for scholarship results.

          Reply
  13. Hello,
    I’m looking to give my CFA level 1 exam in 2022. Can you please clarify whether the access scholarship for the 2022 exam has been announced. And if not what could be the possible dates for the scholarship?

    Reply
      • Any idea when they will open? And if scholarships are announced this late, will I be able to give May 2022 attempt with scholarship?

        Reply
  14. Hi. I wanted to know that if I get the access scholarship, results of which are announced in December, then can I register for the February exam next year(assuming that I have prepared) or will I have to go for the May examination

    Reply
    • The CFA Access Scholarship is currently closed to applications so it’s not confirmed that you’ll be able to apply and get results by December.

      Reply
  15. Hi,
    I had applied for the Women’s Scholarship on April 19th, 2021 for the November Level 1 Exam. I have not heard back from them yet, I am getting very anxious as I expected to hear from them by now. The November registration is closing by 20th July, I thought it was gonna end by 16th first. I wish to appear for the exam in this year. Will I have to pay the standard fees now?
    I read that they usually do reply within 3 months and its almost 3 months now. What should I do? 🙁 🙁

    Reply
    • CFA Institute has indicated that scholarship results take about 12 weeks as they review applications quarterly, which in your case is around 20th July. 12 weeks is also a guide rather than a hard deadline, so it might come a little earlier, or take a little longer.

      Scholarship applicants will be offered the early-bird registration fee for the next available exam so they won’t miss out due to waiting for scholarship results. But since normal registration for Nov’21 closes 20th July I would prepare to have to miss Nov’21 in all honesty.

      If you wish, you can follow up with them at info@cfainstitute.org or any other contact details given to you during the scholarship application process.

      Good luck, and let me know how it goes!

      Reply
  16. I want to register for Feb 2022 level 1, so does it makes any sense to wait for access scholarship? As the results of the scholarship would be declared in December, and till then the registration for Feb 2022 would have ended, if I’m not wrong.

    So should I register or wait for access scholarship for Feb 2022 exam?

    Reply
    • Currently there is no indication on when the Access scholarship will be open to applications. CFA Institute have previously indicated mid-April, but obviously we’re way past that now. Whether you should register or wait depends on how badly you want the scholarship.

      Good luck, and let us know how it goes!

      Reply
  17. I have been awarded cfa level 1 scholarship but now when I am registering and during check out the scholarship fees is not being reflected there ,what should I do now ,the last date is 30th June

    Reply
  18. I applied for the women’s scholarship back in April. I’m still waiting on a response. Any idea when I could expect to hear?

    Reply
        • We just don’t know. CFA Institute have indicated that it should have opened in April/May, but clearly that hasn’t happened yet, and they were unable to follow up with a concrete date. So “whenever they’re ready” seems to be the best answer we have at the moment.

          Reply
  19. Hi there,

    I am a late riser in the CFA club. However, I have made my decision to write the exam in Nov 2021. Looks like I am late for the women’s scholarship and I have to wait till September to apply for it.This automatically implies that If I am to write the Nov Exam, I have to pay the full fees of $1000. Am I correct in gathering that information from the website? I would appreciate any response on this.. Thank you!

    Reply
    • CFA Institute has previously informed us that the Women’s Scholarship is supposed to be awarded on a rolling basis going forward, so we’re not sure why they’ve closed it until September.

      You’ll miss the registration deadline for Nov 2021 if you wish to to apply for the Women’s scholarship in September, so it’ll have to be one or the other.

      Reply
      • Exactly my thoughts. That leaves in terrible lurch. Is this a first time incident of them closing the scholarship window early. Any chance I can get the scholarship for Nov by reaching out to them?

        Reply
        • You could always try, but I doubt it.

          Think about which is more important to you – applying for a scholarship or proceeding with the exams sooner.

          Reply
          • Well, I am still contemplating the idea to take the test in Feb 2022. However, the scholarship opens only in September and that gives me another question. If the early bird registration ends in August. Then how will the scholarship be effective for me, if I chose to write L1 in Feb 2022. If I choose the early bird option, I have to register for the exam. And If I choose the scholarship then I wait to register the exam and bear the late fee. Am I thinking tooo much?

          • Definitely not over-thinking it, it’s a fair and often-asked question. CFA Institute have confirmed to us that unsuccessful scholarship applicants will be offered the early-bird rate for the next exam, so you won’t miss out. If you get the scholarship obviously it wouldn’t matter 😊

  20. Hello , Have a good day ! I want to apply for women’s scholarship for the 2022 exams. However I apply and wait for the revert from CFA institute even after the “early bird registration” which results in i have to pay extra after deadline. If I unable to get the scholarship what will be the amount i have to pay after deadline.? Is there any reduction in amount for those who are waiting for the scholarship? Though I cannot afford the late registration fee , I can expect a reply form CFA ASAP.

    Reply
    • You won’t miss out on the early-bird registration fee as a scholarship applicant. Quoting CFA Institute:

      Applicants that are not awarded a scholarship are offered the early exam registration fee for the next exam registration.

      Reply
  21. Hi,
    I am working for an employer for the past 10 years after completing my Post Graduation in Engineering . Will I be eligible for Access Scholarship or any other Scholarship.
    Thanks in advance.

    Reply
    • I think pretty much anyone is eligible to apply for the Access Scholarship, but applications are not open yet. I don’t think you’re eligible for any other CFA scholarship.

      Reply
  22. hi , i want to know that if I register for access scholarship for 2022after informing that the cfa institute will giving the information for the access scholarship, After applying for the scholarship can i really get the scholarship, for that I have financial issues so I can’t afford the fees and I have very much interested and I have knowledge of investment and finance field. can u please tell me about this?

    Reply
    • I won’t be able to tell you what are your chances of getting the scholarship. If you’re interested in finance and determined to get the scholarship, read our guide carefully, follow all the advice there and apply when the Access Scholarship is open for applications. Good luck!

      Reply
  23. Hey hii

    My name is Dinesh and I am CA final student from india. Is it I am eligible to student scholarship?
    Is it The Institute of Chartered Accountant’s of India is affiliated university as per CFA Institute

    Reply
  24. Thank you so much for this useful information. I was having a doubt , can a 12th passout apply for access scholarship and if we receive access scholarship, is it a one time application (valid or applied to all the 3 levels) or should we have to apply it again for L2 and again for L3?

    Reply
    • I’m not sure what you mean by ’12th passout’. Each application applies to only one level of the CFA exam – you can reapply again for subsequent levels.

      Reply
  25. Risky?

    I’m looking at the Access Scholarship to open for November 21. However, the early bird registration for November 21 closes on 5th of May.

    I understand that even if we don’t get the Scholarship, we would get to apply the exams with the discounted fees. However based on 2020’s scholarship, the awards are given in December..so, I’m not sure how that would work out.

    Reply
    • The Access Scholarship schedule was originally configured to suit the old CFA exam schedule (twice a year in December and June) so yes, the Access Scholarship schedule doesn’t quite fit the new CFA exam schedule.
      CFA Institute are aware of this and are working to eventually move the Access Scholarship to a rolling schedule, like all other CFA scholarships.
      CFA Institute have not actually announced details for the latest Access scholarship, so your concerns on scheduling might be addressed once they disclose full info on how the latest Access scholarship is going to work.

      Reply
      • So I guess it’s a risk not applying for the early bird dateline for 5th May, cause the info from CFAI is still not out and it’s anyone’s guess.

        I mean, I technically have the ability to pay for it, but it’s not quite the same as really being able to afford it.

        Guess I’ll have 1 more day to decide. Thanks Zee!

        Reply
        • “I mean, I technically have the ability to pay for it, but it’s not quite the same as really being able to afford it.” That’s the best description of the CFA scholarship applicant I’ve seen yet!
          You’re welcome – good luck! If you have any further questions, just post in our support forum.

          Reply
    • There are no fixed deadlines for role-based or Women’s CFA Program scholarship applications, including student scholarships. Applications are considered on a rolling basis, with awards made throughout the year.

      There is less clear info on Access scholarships. There is an effort to eventually move this to a rolling schedule as well, but for now it’s still on an annual basis. Access scholarship applications should open any time now, but it might be delayed due to the many changes over the past year (and changes that are still going on!).

      Reply
  26. Hey, I want to apply for the student scholarship. In the list of affiliated universities my university is listed but my program isn’t. Will I still be able to apply for the student scholarship and be considered for the same?

    Reply
  27. I have applied for the women’s scholarship and planning to take the nov 2021exam. If I don’t hear back from them before the early bird deadline and I didn’t get the scholarship should I pay the extra fee in standard deadline or the same fee as in early bird deadline?

    Reply
    • We’ve received quite a few questions about this – we have reached out to CFA Institute and will update everyone when we hear back on this. Stay tuned!

      Reply
    • Hi Vamshik, I finally got a confirmation from CFA Institute on this:

      Applicants that are not awarded a scholarship are offered the early exam registration fee for the next exam registration.

      Hope this clarifies.

      Reply
  28. Hi Alexander,

    Had a doubt. I have applied for women’s scholarship for Nov 21 exam. Waiting for the reply. If in case the scholarship gets rejected, and this rejected reply if I get after the date of early registration which is May 4 2021, then will I be eligible for early bird registration or I will have to pay the entire 1000$ fees ?

    Reply
    • Hi Riya, I’ve just got confirmation from CFA Institute that applicants that are not awarded a scholarship are offered the early exam registration fee for the next exam registration.

      Reply
  29. Hello.
    I had applied for access scholarship last year. But i did received an early exam registration fee waiver only. The last date to redeem this offer was given as 30 june 21. But now when i wanna register for nov 21 level 1 exam it is not reflecting at the time of checkout and i am asked to pay in full $1150.
    Can you please guide me in this.
    Thank you.

    Reply
    • Hi Aakansha, last year’s scholarship awards have been extended to include all 2021 exams. You must register for an exam by the testing window’s registration deadline.

      I suspect there is a system issue in your case and you’ve to contact CFA Institute directly to sort this technical issue, as you’re not the first to report this! You should be allowed to register for L1 Nov21 with reduced fees from your scholarship award.

      Reply
  30. Hi,
    I’m planning to take L1 Nov21. But I want to apply for Women scholarship before that. Considering the early registration deadline falls on 4th May’21, should I take the L1 Feb’22 attempt or should I just go ahead with the registration asap to avoid paying $300 for the late registration.
    Also, while applying for the women scholarship, there’s an option to attach supporting documents. Could you please guide what kind of documents can these be so that I can obtain them if possible to support my application?

    Reply
    • Hi Ridhi, for Women’s scholarship application it is max 3500 characters. As Access scholarship is not open yet, I would assume it is similar length. Good luck!

      Reply
  31. Hi
    I applied for women scholarship 1 week back.but I have time only till 4th May to register for cfa Level 2 august 2021exam,its the final registration date.since I won’t be able to receive the scholarship with in the above time period. I want to register for my cfa without scholarship.
    What would happen if I register for my cfa exam as applied for scholarship?

    Reply
  32. Hi Alexender,

    I applied for the women scholarship in Feb, when can I expect to get a reply? I am planning to appear for the exam in Nov 21 and early registration is open till 4th May.

    Thanks!

    Reply
  33. Hi there.

    I got access scholarship with a deadline of 30 june 2021. Today I was trying to enroll for level 1 July exam but could not find any option to choose the scholarship or to reduce the fee to 250$ on the dashboard. Please help. Thanks for your time in advance.

    Reply
    • Hi Lakshay, it is worth calling CFA Institute directly as it may be a technical issue on their end. Given that L1 Jul21 registration is closing on 20th April, timing may be tight and you may have left this too late.

      It may be worth considering L1 Aug21 registration, as it is just 1 month later with more study time. You can still get the scholarship applied as long as you register for an exam before your 30 June 2021 deadline.

      Reply
    • Thanks for your reply.
      The scholarship is not even reflecting in the August exams and CFA institute is not picking calls or replying to emails. I am waiting from many days for their reply.

      Reply
  34. Hey! Hope you are doing well 🙂
    I just got my result two days back for level 1 and i am so happy that I passed!!!
    Now, I want to apply for scholarship for level 2
    I have a few questions, please help me answer it 🙂
    Q1- If I apply for scholarship now, when will I get to know about the result?
    Q2- If I get selected for scholarship and in the mean time the ‘early bird registration’ gets closed, still I will get the scholarship and the amount will be reduced to $350??
    Q3- Can I apply for women and regular scholarship both at the same time?

    Thank you in advance! God bless you 😀

    Reply
  35. Hi. I appeared for CFA L1 in Feb 21 but I did not pass it. However, I paid the entire fees for it. Now if I want to appear for L1 again in Feb 2022, can I apply for the Access Scholarship or will I have to pay the entire fee again? And if I can apply for the Access Scholarship, when can I do it?

    Thank You

    Reply
    • Hi AD, sorry to hear that.

      Yes you can apply for scholarship this year for L1 Feb22 retake. Access scholarship this year is supposed to open mid April, that is CFA Institute’s guidance, but clearly they are late on this. But it should be soon.

      Reply
  36. Hi Alexandar,

    I would like to know exam registration fee reduction for CFA access scholarship/ women scholarship entitle for 3 level exam or need to apply for every level?

    I’m looking forward for your reply.

    Thank you.

    Reply
  37. Hello! Hope you are doing great

    I have taken my cfa level 1 exam on 17th feb 2021 and the results are awaited, they will be announced in April. I want to apply for women scholarship for level 2, given the fact that level 1 results are not yet out, can I still apply for level 2 scholarship?

    Reply
    • Hi Ridhi, you can’t apply for Women’s scholarship yet until your results are out around mid April.

      Perhaps you could work on your scholarship application meantime and have it saved whilst awaiting your results.

      Reply
  38. Hey kindly help me if possible.. I want to take Nov 2021 L1 attempt. I want to apply for women’s scholarship.. is it okay to apply for the scholarship today? will my scholarship get approved? because the last date of early registration is May 4 2021.

    Reply
    • Hi Urvashi, Women’s scholarship are assessed on a rolling basis and takes 3 months to hear back from application submission. So if you apply today, you will be late for L1 Nov21 early registration deadline, however, you could still make final registration deadline (10 Aug) if you’re happy to squeeze that in.

      Reply
  39. Hello,
    I’m planning on appearing for November 2021 or February 2022 exam. If I apply for the access scholarship in March, which of the above exams can I apply for?
    Thank you.

    Reply
    • Hi Hrishike, Access scholarship is only opening around mid April this year. We don’t know if the rules are changing for Access scholarships, so unable to comment on that at this stage.

      For example, pre 2021, Access Scholarships have traditionally open for application in March until September, with results being announced 1st week of December. Obviously with that timeline, Feb22 exam is more realistic.

      That said, we expect CFA Institute to update their Access Scholarship deadlines and assessment cycle given the new exam cycles. For example, IF Access Scholarships became like the others and are open on a rolling basis, where you hear back within 3 months, you would then be able to apply for Nov21.

      Long story short, we need this year’s Access Scholarship to open to understand if there are any new changes, before we know the answer to your question 🙂

      Reply
      • Thank you for the information. What will be the deadline for early registration for February 2022 attempt?

        Reply
        • 2022 exam details haven’t been published as yet. However, if I were to infer from Feb21 dates, it would be mid Aug for early reg deadline for L1 Feb22 🙂 Stay in touch with us by signing up to our mailing list (at the top of each page), and/or check back on our CFA exam dates page for more info.

          Reply
  40. Hi,
    I was awarded the access scholarship last November 2020. I am really confused about the expiration date that was mentioned. The expiration date given is June 30, 2021. It means that I should register before an exam registration closes right, it doesn’t mean that I have to take the exam before June 30, 2021? I mean for instance, for November 2021 exam, the registration closes on August 10, 2021, it means that I can still use the scholarship for it, right? Since the registration for November closes on August, I can still register using the scholarship before June 30? Thank you in advance for answering my question. 🙂

    Reply
    • Hi Rishi, not for Access scholarship as applications only open in March and candidates normally apply 1 year in advance of the target exam.

      But for other role-based ones which are open on a rolling basis it could potentially work, but deadlines are tight as early registration deadline for Nov 21 exam is 4 May 2021.

      Reply
    • Hi Add and Rishi

      Sorry for putting the question here but I could not find where I can put the questions.

      I have 2 questions that need your help,

      1. I am going take the exam for Level 1 in Nov 2021.
      It means there is no scholarship which I can apply at the moment ? right? even I enroll Women scholarship ( as the last date to Register for Nov exam is 4 May.)
      So, I need to pay registration fee and the fee for level 1 ?
      Am I understanding right? if not could you please correct me and give me a idea?

      2. Assuming I pay registration fee and level 1 and pass Level 1, when can I apply for scholarship for Level II ?

      Thank you so much

      Reply
  41. Hi,
    Is the $25 rescheduling fees applicable for both rescheduling within the exam month (say shifting between 24th-30th August 2021 for Level) and rescheduling within the exam cycles (say shifting from August 2021 to November 2021 for Level 1) ?

    Reply
  42. Hi there,
    I applied for Women scholarship on the 9th of January. Just wondering when do you think they tell me the result for my scholarship? Do you think I get back from them soon and would be able to register for May 2021 level 1 exam?

    Best Regards,

    Bahareh Edalat

    Reply
      • Hi Sophie and Rishi

        Sorry for putting the question here but I could not find where I can put the questions.

        I have 2 questions that need your help,

        1. I am going take the exam for Level 1 in Nov 2021.
        It means there is no scholarship which I can apply at the moment ? right? even I enroll Women scholarship ( as the last date to Register for Nov exam is 4 May.)
        So, I need to pay registration fee and the fee for level 1 ?
        Am I understanding right? if not could you please correct me and give me a idea?

        2. Assuming I pay registration fee and level 1 and pass Level 1, when can I apply for scholarship for Level II ?

        Thank you so much

        Reply
        • Hi Bem,

          1) for L1 Nov21, yes it is too late as scholarship applications should happen 1 year BEFORE the exam year you would like to apply for, typically.
          2) you can apply for L2 scholarships after you have received your L1 results, but BEFORE you register for L2 exams.

          Reply
  43. hi
    I have registered for CFA’s women scholarship program in Nov 29, but I have not received the result yet.
    Do you think I have any chance to get the scholarship for 2020? because there wasn’t any deadline for women scholarship.

    Reply
    • Hi Life, CFA Women’s scholarship is on a rolling basis as you said, and are assessed on a quarterly basis.

      So you should hear back on the results within ~12 weeks. Successful role-based or Women’s scholarship applicants have up to 12 months in which to use their Award. I presume you meant 2021, and therefore you should be able to use it for 2021, if awarded.

      Hope this helps!

      Reply
  44. Hey!!

    I’m appearing for CFA L1 in Aug’21 which means results would be out by end of Sept’21.
    By the time results are out for CFA L1, window for Access scholarship would be closed.

    How do i apply for Scholarship for CFA L2 before results are out for L1 and before scholarship deadline which is Sept’21.

    Thanks

    Reply
    • Hi Neha,
      If you’re taking CFA L1 in Aug21, the exam window is end of August. So since results are out within 60 days from that, you would only know your results by end of October, not September.

      But yes, the Access Scholarship window would be closed by then, based on the current annual cycle. You won’t be able to apply for L2 Access Scholarship without L1’s results in time. We have reached out to CFA Institute previously on this issue, and they have said “We hope to enable a move to a rolling application basis for Access scholarships over time.”

      So unfortunately there is no clear time commitment when CFAI would update their Access scholarship cycle, but we expect this should be updated soon.

      On the other hand, you could consider Women’s scholarship since there are no fixed deadlines for role-based or Women’s CFA Program scholarship applications. Applications are considered on a rolling basis, with Awards made throughout the year. Women’s scholarship applications are reviewed on a quarterly basis and so candidates can expect to hear the outcome of their application within approximately 12 weeks.

      This may be a good alternative/backup if Access scholarship cycle hasn’t changed then.

      Reply
  45. Hi. I am so much confused pls help me. On October 11 I had received an email for access scholarship decision that I have been selected for scholarship but from that date to up till now the status on my cfa account has not been changed from submitted to awarded. What to do now. Do I suppose to get the scholarship or not. Please tell

    Reply
    • Hi Raveena, congrats on the scholarship! It is best to follow up directly with CFA Institute BEFORE you go for any exam registration, as it cannot be deferred to future levels. Registering now without any scholarship details voids the scholarship award. CFA Institute is probably just swamped and it is best to double check your status with them directly via email.

      Reply
      • I have emailed them so many times but get no response yet. I am also trying on call but they are not answering. Should I wait till January?

        Reply
  46. Is there any way by which one can use access scollrship benefit for level 2 February 2022 examination…? Because i don’t see any. Also if i didn’t apply for the same and paid the full fees. Will i be eligible to get a level 3 scollrship further?

    Reply
    • Hi Cube, there is a deadline (depending on type of scholarship, e.g. for Access it is around 7 months from award) to register for the CFA exams. So 2020’s scholarship awards are for 2021 exam registrations only usually. I don’t quite understand your second question: do you mean if you paid full fees for L2, will you be eligible to get a L3 scholarship if you apply in the future? If so, yes you can apply for L3 (after you have passed L2), regardless whether you have received a scholarship previously. Does this answer your question?

      Reply
  47. I have missed the chance to apply for scholarship this year and I’m planning to give level 1 exam in aug. Will I be able to apply for scholarship for level 2 after the exam ??

    Reply
    • Hi Kishan, as long as you apply before the deadline it should be fine (and before registering for L2). But we expect CFA Institute to update their scholarship deadlines/timetables hopefully soon to reflect the new CBT exam cycles. So we have to wait and see for now.

      Reply
  48. If I apply for the level 1 scholarship in March 2021 then will i be able to apply for December 2021 examination if a get the scholarship?

    Reply
    • Hi Jainam, from 2021, there are no longer any Dec exams. Check this post (https://www.300hours.com/articles/all-the-dates-you-need-for-your-next-cfa-exam) for the new computer-based exam schedules. At the moment, all of the scholarships are on a rolling basis and probably takes 3-4 months on average for results, except Access scholarship, which currently (as confirmed by CFA institute) is on an annual basis. They recognise that this would probably change to a rolling basis as well to accommodate the new exam cycle, but have not confirmed or made any announcements on this.

      Reply
  49. What are the usual questions or things I need to be prepared for with regards to the the access scholarship interview?

    Reply
        • Hi Jieun, thanks for letting me know – interviews are quite rare, but it’s a good thing! Which CFA society are you registered to? 15 minutes isn’t long, so here’s a few tips: as it is access-based, make sure you’re familiar with your financial situation numbers that you’ve submitted, also your CV and career goals. Definitely be prepared to answer ‘why do you want to pursue the CFA charter’ and how this can help with your current job or target career. Good luck, let me know how it goes!

          Reply
  50. Hi All, I applied for access scholarship this year and I submitted my application on 24th of june 2020. I understand that we get our results by 1st of December. However, I’m a tad worried because all my friends that applied after I submitted have gotten feedback whereas i am yet to receive any. Do i need to send them a mail to enquire about my status or wait till 1st of December. Thanks

    Reply
  51. Hie sophie. As you replied above in comments for adithya’s question about getting access scholarship on dec 1 if applied before sept 15 (the deadline for feb 21) . And If scholarship granted to me, will there be separate availability of location for people who earned schoarship on December 1 for feb 2021 exam or do we have to struggle instead in getting exam location.

    Reply
    • Hi Vikrant, I’m not aware of a separate booking system for scholarship recipients unfortunately. So yes, if you do get awarded an Access scholarship on 1st Dec 2020, you can book for Feb21 provided there are slots available.

      Reply
    • Hi Archi, there’s no longer a Dec 2021 exam now, given the transition to computer-based testing. Check out this article for 2021 exam cycles by level (https://www.300hours.com/articles/cfa-journey-planner-registration-options). That said, you can apply for role-based scholarships now as they are on a rolling basis. The annual Access scholarship applications just closed on 15 September 2020 (for 2021 exams), so you will need to wait until it reopens again. Given the change in exam cycle schedules, it is likely it would be on a rolling basis next year, but we are awaiting CFA Institute’s confirmation on this point.

      Reply
  52. Hey. Now that the last date for Feb 2021 registrations has been shifted to Dec 7 and Access results are announced on December 1, is there a chance that if awarded, I can use the Access scholarship for Feb 2021 exam dates? Need to know this as I will have to plan my studies accordingly.

    Reply
    • Hi Adithya, that may be possible now, assuming you applied for Access Scholarship before 15 Sep 2020. So if awarded on 1st Dec 2020, you should be able to apply that scholarship to a Feb21 L1 exam cycle, which wasn’t possible previously under the old final registration deadline.

      Reply
  53. hi, I am looking to give December 2021 Level I CFA exam, so do i need to apply for woman scholarship now. At the time of granting scholarship, do CFA give us some kind of timeline in which one need to sit for the exam. thanks for your response.

    Reply
    • Hi Sarika, with computer-based exams next year, there would no longer be a December L1 exam cycle, but 4 exam cycles: Feb21, May21, Aug21 or Nov21 for Level 1 exams. You can certainly apply for Women’s scholarship now as it is on a rolling basis with limited numbers awarded per exam cycle. Yes, if awarded, CFA Institute does provide you with a defined window of time (seven months) in which you must enroll for a CFA Program exam before the expiration date listed in the scholarship award email expires. It probably makes sense to apply now, as it takes a few months to award it, which ties in nicely with an end of year L1 2021 exam for you.

      Reply
  54. Thanks Sophie! Just to clarify, I take the December level 1 exam, wait for results and if I pass, apply for the women scholarship for level 2 (2021). But isn’t the scholarship on first-come first-serve basis? Does women scholarship have any deadline? Thanks again 🙂

    Reply
    • Hi Ridhi, yes I think you can apply for scholarship after your results have been announced. For women’s scholarship, it is on a rolling basis throughout the year so no deadline, just apply when you’re eligible and not registered as a candidate. My understanding is that it is on a first-come-first-basis, I don’t know whether that has changed given the new CBT exam schedules next year, but I presume it still would be as they probably allocate a certain number of such scholarships for each exam cycle.

      Reply
  55. Hi! I have already registered for level 1, which means I cant apply for scholarship now. My level 1 exam is in December 2020. I want to apply for level 2 scholarship. What is the deadline for scholarship for 2021 exams? I have been searching but can’t find. Thanks in advance!

    Reply
    • Hi Ridhi, yes you’re right as your situation is similar to the previous commenter above. The deadline for 2021 exams has unfortunately just passed for Access Scholarship (15 Sep). The other Role-based scholarships are awarded on a rolling basis and applications have opened since 1st September, so if you’re eligible for any of those, make sure you prepare your applications now, but only submit it after the exams results are announced. Else your best bet is to wait for 2021’s Access Scholarship to open for 2022 exams. That said, as mentioned above, Access Scholarship’s rigid annual timeline may no longer make sense when we move to computer-based exams which are held 2-4x a year, so hopefully CFA Institute may move Access Scholarship on a rolling basis soon, or else it is quite tricky to plan on when to take an exam! Sorry it wasn’t a clearcut answer – we will certainly update our readers if the deadline/timing changes on Access Scholarship.

      Reply
  56. I already registered level 1 Dec 2020 exam, does it mean I am not eligible for the scholarship? If so, can I now apply the scholarship for level 2 instead?

    Reply
    • Hi Iceberg, yes as you’re a L1 registered candidate, you’re not eligible to apply for a scholarship as you’ve demonstrated the ability to pay via your registration. That said, you’re also a year late for 2020 exam’s scholarships, as this year’s scholarship deadlines are for 2021 exams. I just double checked with CFA Institute and unfortunately it seems that rules have changed (although not made clear) that you can no longer apply for a scholarship (even if for a different level) if you’re currently enrolled in an exam. This seems to create a disadvantage for current Dec candidates given the Access scholarship’s deadlines. The current rigid, annual timeline for Access Scholarship doesn’t seem to work if exams are held 2-4x a year going forward for each level, so I’m hoping that CFA Institute would eventually change Access Scholarship rules to be rolling just like the other Role-based scholarship for the registration timing and requirement to be un-registered when applying to make sense.

      Reply
      • Thank you for the information Sophie. Do you know if CFA Institute will soon change the Access Scholarship deadlines? I weren’t able to register for the Access Scholarship this year to take the Level II in 2021 because I’m already registered for the Level I December, 2020. It’s kind of unfair, I will have to wait until 2022 to take the Level II exam then, since the next Access Scholarship will probably be awarded in December, 2021.

        Reply
  57. If someone had registered for the now postponed June 2020 exams by paying the full fees and they have not yet selected an upcoming exam date for 2021, can they still apply for the Access scholarship?

    Reply
    • Hi Gbilly, I’m afraid not, as the person is currently registered for an exam (although the date was postponed and yet to be selected), so as per the Access Scholarship rules, currently registered candidates are not eligible. Because by registering, they have already demonstrated the ability to pay the examination fees and hence do not qualify for the scholarship.

      Reply
  58. Hi, I have a questiom, if my unmarried sibling has a car and a house under his name, should I include it in the income and asset portion? I just want to make sure so I hope you can help me.

    Reply
    • Hi Jae, I’m confused as to whether it is your CFA scholarship application or your brother’s? Scholarship applicants should include income and assets under their name in the Access Scholarship application.

      Reply
      • Yes it is my application. Thank you for that. I was just confused as I am not married yet, so I included for instance my family’s income and asset – e.g. my parents’ house where I currently live since the application said “Household” Income and Asset and I belong to that household including my parents and siblings.

        Reply
  59. Hi! About the “Income and Asset” portion that is “quite detailed” as you mentioned. Do I have to attach a personal financial statement to support what range of amount I choose? My local society does not require any additional document as per CFA Institute website. So, I just wonder if it should be automatically attached? Thank you!

    Reply
    • Hi Angel, if your local society doesn’t require it, then it is optional. But feel free to attach it as additional documentation if you’ve the option to – it can’t hurt your chances. Good luck!

      Reply
  60. Putting the CFA society I belong to on my CFA access scholarship is very compulsory because it was starred. So I chose CFA society of Nigeria. And then I made up my mind to join the CFA society of Nigeria, but before I can successfully be a candidate member of the CFA society of Nigeria, I must be registered for an upcoming CFA exam. But this condition conflicts with one of the requirements of the CFA access scholarship, which is applicant for the CFA access scholarship must not be registered for the upcoming CFA exam until they get a feedback from the CFA access scholarship team. I am very confused

    Reply
    • That’s a very good question. I’m not sure if they did – it’s been a while ago! They might have had a quick call just to check details etc, but not an extensive phone interview.

      Reply
      • Thank you very much for the response. I have a quick question. While registering for the CFA access scholarship, I was asked “which of the CFA society do I belong to”. I am not a member of any CFA society as at the time of registration, but I chose the CFA society in my country; CFA society of Nigeria. Immediately I made preparations and plans to join the CFA society of Nigeria, in which I got necessary information as to how to be a member of the CFA society of Nigeria. I am supposed to be joining the CFA society of Nigeria as a candidate member. One of the requirements for joining the CFA society of Nigeria is to already be registered for an upcoming CFA exam. I can’t register for any CFA exam until I get a response from the CFA access scholarship team. Any registration I make now before I get a response from the scholarship team will imply I am capable of registering for the exam without any financial constraint or need for scholarship, which will therefore automatically cancel me out or make not qualified for the access scholarship. I am a bit confused here. I am not suppose to register for the CFA exam until after the CFA access scholarship team gets back to Me. But While applying for the CFA access scholarship, I was told my access scholarship application will be reviewed by the CFA society I belong to. To be a member of the CFA society of Nigeria (candidate member), I must be registered for an upcoming CFA exam. I am very much confused here and need your help on what steps to take, so I don’t get affected in any way. Thank you.

        Reply
        • Hi Michael – now that’s a conundrum! Is putting your CFA Society in the application optional? Can you submit the application without putting a CFA Society in at this stage? I would imagine this issue affects all scholarship candidates. If your application is submitted and can’t be changed, I suggest contacting both CFA Institute (scholarships@cfainstitute.org) and your CFA society about this to see what they say.

          Reply
    • Hi Disha, yes you can apply for both scholarships. But a candidate may only receive one CFA Institute scholarship per exam, in which case the most recently awarded scholarship will be applied.

      Reply
  61. Hiya! Is the women’s scholarship really given on a first come first serve basis? Where does this information come from?

    Reply
    • Hi Devin – the women’s scholarship has a set number of scholarships, and the application window closes when all scholarships have been awarded. So it is advantageous to apply as early as possible – hence ‘first-come-first-served’. Hope that makes sense!

      Reply
  62. If you’ve applied for the CFA access scholarship but didn’t get it, would CFA Institute refund the difference in higher fees due to trying to meet different scholarship deadlines?

    Reply
    • I’m assuming you mean that because the scholarship requires you NOT to register until you hear back from them, you might miss the early registration deadlines? If that is the case, in the past, CFA Institute will allow you to pay the ‘cheaper’ fee. However I’ve not been able to find any official reference to this any more, so they may have changed this. Best to contact them directly (https://www.cfainstitute.org/en/utility/contact-us).

      Reply

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