Our scholarships encourage a broader group of individuals to participate in the CFA Program. All scholarships include a waived enrollment fee and discounted registration. Please review the individual scholarship pages for more details on application windows, eligibility requirements and other program rules.

All fees are net of any local Value-Added Tax (VAT), Goods and Services Tax (GST), Sales Tax or any similar tax payable by the candidate in their country of residence. Where CFA Institute is required to collect such taxes at the local statutory rate, this will be added to the fees shown during the payment/checkout process. For information about taxability related to online purchases from CFA Institute, please visit our Tax Policy page.

Can I apply for a scholarship while I am waiting for my exam result?
No, you are not eligible to apply for a scholarship until you have received your exam result. If you apply for a scholarship prior to receiving your result, your application will be rejected.

Can I apply for more than one scholarship at a time?
Yes, you may apply for more than one scholarship program. If you receive multiple scholarships, the scholarship that was most recently awarded will be applied. 

Is there a limit to how many times I can apply for any of the scholarships?
No, we do not track nor limit the number of applications an individual submits.

When do I see the discounted fee displayed during registration?
The scholarship rate will not display immediately; you must navigate through the registration process and the reduced rate will display on the final page before payment. Note: if you change your payment method, your discount may be deactivated. If this occurs, please contact us for assistance. 

What happens if I do not use my scholarship before it expires?
If you fail to utilize your scholarship by not registering, not scheduling or not appearing for the exam, you will not be eligible to receive future scholarships. 

Can I extend my scholarship?
If you are not awarded a scholarship, you will be permitted to register at the early registration price for the current exam cycle. Please await the official decision notification from our Scholarships team for instructions on registering at the lower fee. If you register before receiving this notification you will not receive a refund for paying the higher registration fee. This option is only valid if the registration window is still open for the applicable window.