Our variety of scholarships allow more people to participate in CFA Program. View our full list of scholarships below. All scholarships include a waived enrollment fee and discounted registration. Scholarships are awarded on a rolling basis, allowing candidates to select from multiple upcoming exam offerings.

All fees shown 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 more than one scholarship at a time?
Yes, you may apply for more than one scholarship program during the same cycle. 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 is my scholarship active after it is awarded?
You should allow two weeks from the time you receive the scholarship award notification for your discounted registration fee to be available. 

How long will I have to register for an exam with my scholarship?  
Scholarships are valid for one year and awardees will have up to five exam windows to redeem their award (depending upon their exam level). The scholarship expiration date and applicable cycles will be emailed directly to you if you are awarded a scholarship. 

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 may be ineligible to receive future scholarships. 

Can I extend my scholarship?
You have one year from the award date to register for an available exam at the discounted registration fee. Scholarship awards are non-transferable and cannot be extended past their stated expiration date.

If I am not awarded a scholarship, will I receive the early registration price?
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.