If you plan to become a CFA charterholder but you are worried it will cost you a fortune, you couldn't be more wrong. CFA Institute offers scholarships that make the exam more affordable. For all those who cannot afford full CFA Program fees awaits Access Scholarship with many changes for 2025 exams. Also, there’s an offer for students but no more dedicated scholarships for women (alas!).
- Access Scholarship for 2024 CFA Exams
- Access Scholarship for 2025 CFA Exams
- What's CFA Exam Access Scholarship?
- New 2025 CFA Exam Access Scholarship Windows
- When Will Access Scholarship Window Open for 2025 CFA Exams?
- CFA Exam Access Scholarship Results
- How to Apply for CFA Exam Access Scholarship?
- CFA Exam Access Scholarship Essay
- Other CFA Institute Scholarships
- Student Scholarship for CFA Exam
- Professor Scholarship for CFA Exam
CFA® Institute Access Scholarship Program in 2024
Access Scholarships for the 2024 CFA exams are no longer available. There were 2 scholarship application windows, in Sept/Oct 2023 & Jan/Feb 2024. The 2024 Access Scholarship reduced the total CFA exam registration fee to USD 300.
Now, all this changes for the 2025 CFA exams with the new Access Scholarship Program. 1 Sept 2024 is the key date here. If you got your scholarship before 1 Sept 2024, old rules and fees apply to you. Best refer to your award email for more details. For scholarships awarded after 1 Sept 2024, the new rules and fees will apply.
Access Scholarship for 2025 CFA Exams
Access Scholarship for the 2025 CFA exams is available now. The scholarship application window is from 6 Nov to 25 Nov 2024 for those who want to take their CFA exam in Aug 2025. Next, the Nov 2025 application window opens in Feb. There was no dedicated Feb 2025 CFA exam scholarship window (Feb'25 scholarships were awarded based on the old rules and deadlines).
The 2025 Access Scholarship reduces the total CFA exam registration fee to USD 400 (it used to be USD 300 a year ago!).
There are new CFA Institute Access Scholarship rules as of 2025 exams. Read on for details .
What's CFA Exam Access Scholarship?
Access Scholarship is a needs-based scholarship and it is intended for you particularly if you feel that the CFA exam cost is a challenge owing to your difficult financial situation. It is available to both new and continuing candidates and can be used for all exam levels.
Importantly, when awarding Access Scholarships, CFA Institute takes into account what you write in your scholarship essay. It means that it's not only your financial needs that count but also other factors such as your accomplishments, the obstacles that you need to overcome, or your personal characteristics and dedication to the CFA designation.
You are ineligible for the Access Scholarship if your employer financially supports your participation in the CFA Program.
See if you meet CFA exam requirements.
New 2025 CFA Exam Access Scholarship Windows
As of 2025 CFA exams, there are 4 Access Scholarship application windows per year. This means that each exam has its own Access Scholarship application window and your Access Scholarship is valid for one particular exam.
Example: If you wish to sit for the Aug 2025 CFA exam, you should apply during the application period for the Aug exam. After you're awarded your scholarship, you cannot use it for any other exam than the Aug 2025 exam. Quite easy and transparent, isn't it?
When Will Access Scholarship Window Open for 2025 CFA Exams?
Access Scholarship window opens on 6 Nov for the Aug 2025 CFA exam. If you wish to get your scholarship for the May exam, you need to apply by 25 Nov. Next, the scholarship window for the Nov 2025 CFA exam opens in February. See the table below for all the scholarship windows currently available:
| CFA exam | scholarship application window |
|---|---|
| Feb 2025 | no dedicated scholarship window |
| May 2025 | 8 Aug 2024 - 26 Aug 2024 |
| Aug 2025 | 6 Nov 2024 - 25 Nov 2024 |
| Nov 2025 | 12 Feb 2025 - 3 March 2025 |
| Feb 2026 | 29 Apr 2025 - 19 May 2025 |
The deadlines end at 11:59 p.m. EDT.
CFA Exam Access Scholarship Results
CFA exam Access Scholarship results will be available 4-6 weeks after the application window closes. For the May 2025 CFA exam, you may expect your scholarship award decision on 23 Sept 2024.
| CFA exam | scholarship results |
|---|---|
| May 2025 | 23 Sept 2024 |
| Aug 2025 | 3 Jan 2025 |
| Nov 2025 | TBD |
| Feb 2026 | TBD |
You will get your scholarship result in your e-mail. The scholarship award deadline will always be set before the early registration deadline, so you'll have until the early registration deadline to register at the early price if you are denied the scholarship (the early-bird CFA exam fee in 2025 is USD 990 for level 1 & level 2 & USD 1090 for level 3).
See CFA exam registration deadlines.
How to Apply for CFA Exam Access Scholarship?
To apply for your CFA exam Access Scholarship, you need to register at the CFA Institute website. After you create your account, you will be able to submit your application. NOTE: No changes are possible once you submit your application!
After you apply, do not register for your exam before you receive the scholarship.
register with CFA Institute apply wait for the scholarship register for your exam & make the reduced payment
If you register for your exam before you get your scholarship award decision, you'll have to pay the unreduced fee. As soon as you pay, CFA Institute will conclude that you can afford the exam and will deny you the scholarship. So, wait for your scholarship first. Then, after your Access Scholarship is awarded to you, register for your CFA exam and make the reduced payment of USD 400.
Note that the scholarship rate will be displayed at the end of the registration process, on the final page before payment.
You may need to allow two business days from the date of your scholarship award email before registering for the exam to ensure that the discounted price is reflected during checkout. In case of any problems, just contact CFA Institute for assistance. Remember that no refunds are available if you register and pay for your exam the unreduced amount.
CFA exam registration = fee payment
register after the scholarship award but watch the registration deadline!
BTW, if you want to apply for your CFA exam scholarship as a continuing candidate, let's say for your level 2 CFA exam, you need to wait for your previous exam results before you can apply. That's because CFA candidates are considered registered until they get their exam results.
Access Scholarship: The Biggest Cost Reduction
CFA exam Access Scholarship cuts the total exam registration cost down to USD 400 and waives the enrollment fee, which makes it the biggest exam cost reduction there is (included in the price is the enrollment fee if applicable). Other scholarships made available by CFA Institute reduce the CFA exam cost to USD 600.
The CFA exam cost without a scholarship is at least USD 990 in 2025 and it's an early-bird registration fee available only within a specified deadline. Best register for your exam by this deadline if you apply for a scholarship and your application is rejected. In the new CFA Institute scholarship program, you can still benefit from the early registration fee if you haven't been awarded the scholarship so mind the deadline and take advantage!
See unreduced CFA exam fees + deadlines.
When to Use Access Scholarship?
If you are awarded the scholarship, you need to use it for the exam the scholarship is valid for. So, if you applied in the May exam application window, use your scholarship for the May exam!
After you earn your Access Scholarship, make sure you use it. If you fail to use your scholarship, you will be ineligible in the future for any scholarships granted by CFA Institute.
You will fail to use your scholarship if you do not register for the CFA exam before the registration deadline or if you do not schedule your CFA exam before the scheduling deadline or if you do not appear for the CFA exam for which the scholarship was awarded.
If you fail to appear for the exam, you may request an emergency deferral if you meet the specified criteria. However, you are not permitted to purchase a paid deferral.
CFA Exam Access Scholarship Essay
When applying for your Access Scholarship you are asked to provide your identification details. You also need to give your personal financial statement and explain why earning Access Scholarship is important to you. Remember that apart from your financial needs, also your personal story is of value here. When writing your CFA exam scholarship essay, try to distinguish yourself from other candidates. Think about what favors you and why CFA Institute should invest in you.
GET WEEK-TO-WEEK PREP CONTROL
APPLICATION TIPS:
To apply, log into your account on the CFA Institute’s website.
To view the whole application form, download it.
When writing your scholarship essay, use a word processor.
Be clear, concrete, and concise.
Before you copy your essay into your application,
don't forget to check it for grammar and spelling mistakes.
CFA Institute Access Scholarship in Short:
USD 400 is all you pay for your exam
CFA exam levels: level 1, level 2, level 3
if awarded, make sure to use your scholarship
if NOT awarded, benefit from the early price (mind the deadline!)
new candidate-friendly application cycle
You may apply for more than one scholarship made available by CFA Institute. It means that apart from applying for Access Scholarship you may also apply for other CFA exam scholarships, like the ones right below . If you are granted more than one scholarship for your CFA exam, the most recently awarded one will apply.
Other CFA Institute Scholarships
CFA Institute also awards scholarships to students of affiliated universities and professors at qualified institutions. CFA Institute no longer supports women with a dedicated Women’s Scholarship.
- YES: Student Scholarships – for students of universities and colleges affiliated with the CFA Program
- YES: Professor Scholarships – for full-time professors teaching finance-related subjects
- NO:
Women’s Scholarships – for women not eligible for other scholarships and not yet registered for their exam(read more)
See if you meet CFA exam requirements.
Student Scholarship for CFA Exam
Student Scholarship reduces the CFA exam registration fee to USD 600 (it used to be USD 400 before 1 Sept 2024). Included in the price is the enrollment fee (if applicable).
Student Scholarships are awarded through universities and colleges affiliated with the CFA Program. As a student, you should check with your school if it’s affiliated and ask what you need to do to apply for the scholarship. Best, also ask about the rules governing the scholarship award, including the decision deadline.
APPLICATION WINDOW for STUDENT SCHOLARSHIP:
OPENS 1 Sept 2024
CLOSES 31 July 2025
YOUR PERSONALIZED CFA EXAM STUDY PLAN
Scholarships are available to both new and continuing candidates and can be used for all exam levels. If you're awarded a scholarship, make sure to use it. Otherwise, you will be ineligible for any future scholarships.
If you fail to appear for the exam, you may request an emergency deferral if you meet the specified criteria. However, you are not permitted to purchase a paid deferral.
Professor Scholarship for CFA Exam
Professor Scholarship reduces the CFA exam registration fee to USD 600 (it used to be USD 400 before 1 Sept 2024). Included in the price is the enrollment fee (if applicable).
For university teachers, a specified number of teaching hours is required. Plus, a CV and some employment verification attachments, including a letter from the employer.
APPLICATION WINDOW for PROFESSOR SCHOLARSHIP:
OPENS 1 Sept 2024
CLOSES 15 July 2025
Scholarships are available to both new and continuing candidates and can be used for all exam levels. If you're awarded a scholarship, make sure to use it. Otherwise, you will be ineligible for any future scholarships.
If you fail to appear for the exam, you may request an emergency deferral if you meet the specified criteria. However, you are not permitted to purchase a paid deferral.
Applying for CFA Exam Scholarships
To apply for your CFA exam scholarship, you need to create your account at the CFA Institute website and fill in an online application.
register with CFA Institute apply wait for the scholarship register for your exam & make the reduced payment
You must not register for your exam before you obtain your scholarship.
Because CFA exam registration means fee payment, you need to wait for your scholarship first. Then, register for your exam and make the reduced payment of USD 600. No refunds are available if you register and pay for your exam the unreduced amount.
CFA exam registration = fee payment
register after the scholarship award but watch the registration deadline!
See CFA exam registration deadlines.
BTW, if you want to apply for your CFA exam scholarship as a continuing candidate, let's say for your level 2 CFA exam, you need to wait for your previous exam results before you can apply. That's because CFA candidates are considered registered until they get their exam results.
If your scholarship application is rejected, you're entitled to a registration fee discount, which is equal to the early-bird CFA exam fee of USD 990 in 2025 for level 1 & level 2 or USD 1090 for level 3.
GET WEEK-TO-WEEK PREP CONTROL
APPLICATION TIPS:
To apply, log into your account on the CFA Institute’s website.
To view the whole application form, download it.
When writing your scholarship essay, use a word processor.
Be clear, concrete, and concise.
Before you copy your essay into your application,
don't forget to check it for grammar and spelling mistakes.
Student & Professor Scholarships in Short:
USD 600 is all you pay for your exam
CFA exam levels: level 1, level 2, level 3
if awarded, make sure to use your scholarship
if NOT awarded, benefit from the early price (mind the deadline!)
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