The CFA Institute, administrator of the Chartered Financial Analyst (CFA) designation, offers a scholarship program to subsidize the enrollment fees for students to sit for all levels of the CFA examination. As a CFA Program Partner, the Department of Finance at the University of Iowa is eligible to award up to fifteen (15) Awareness Scholarships to graduate or undergraduate students.
The Department of Finance is now accepting applications from graduate or undergraduate students who plan to sit for the December 2016 or June 2017 examinations. Students selected for these scholarships will be eligible to enroll for the CFA exam at a reduced rate ($350). (Normal enrollment fees range from $1,310-$1,810 depending upon the sign-up period.) Scholarship recipients who have already registered for the exam will receive a refund of the fee differential from the CFA Institute once the scholarship forms are processed.
- December 2016 Exam: Friday, August 26, 2016, 12:00 p.m.
- June 2017 Exam: Monday, December 5, 2016, 12:00 p.m.
Application Requirements: To apply for the scholarship, students must submit the following information to the Department of Finance, S252 PBB, by the deadlines noted above:
- One-page cover letter discussing your career goals and the role of the CFA designation.
- Resume with email address and current contact information.
- A copy of your UI grades (does not need to be an official transcript).
- Completed CFA Scholarship Form: https://www.cfainstitute.org/Forms/dec_june_student_scholarship.pdf
- If applicable, proof of CFA exam registration such as a copy of your confirmation email. (Pre-registration for the exam is not a requirement to apply for one of the scholarships.)
All students selected to receive one of the 15 University of Iowa sponsored scholarships may be required to sign a waiver authorizing the release of examination scores to the UI CFA program faculty committee, so that we may monitor student performance across areas of the CFA curriculum.
Students planning to sit for the June 2017 exam are strongly encouraged to also apply for the CFA Institute’s Access Scholarships. These need-based scholarships lower the enrollment fee to only $250. The application deadline for 2017 is Sept. 15, 2016.
The CFA Institute also offers a scholarship program for women who are interested in earning the CFA charter. The application form is at: https://www.cfainstitute.org/Forms/womens_scholarship_june_2017.pdf
University of Iowa Program Partner Scholarship Eligibility Requirements:
- Applicants must be current undergraduate or graduate students at the UI.
- Applicants must have a valid passport (CFA exam registration requirement).
- Applicants must fulfill all CFA candidate requirements. CFA Institute guidelines require all applicants to hold a bachelor’s degree (or equivalent) or be in the final year of your bachelor’s degree program at the time of registration. Thus, undergraduate candidates may only enroll in the Level I exam during their final year of studies. For more information on the CFA examination or candidate requirements, visit the CFA Institute website (cfainstitute.org).
- Applicants must choose whether to apply either for the December 2016 or June 2017 exam scholarship, but not both.
- If you are an MBA-PM student and employed, your employer cannot provide reimbursement either before or after the exam.
Scholarship Selection Details: The selection process is often very competitive for the limited number of scholarships available to the UI. Scholarships will be assigned in proportion to the total number of undergraduate and graduate student applicants. Selection criteria may include the following:
- Academic performance as a student at the University of Iowa
- Academic performance in courses that are part of the CFA curriculum.
- Work, internship, and professional experiences.
- While these scholarships are available for all levels of the CFA exam, the selection committee reserves the right to give priority to new Level I examination candidates for the December 2016 or June 2017 exams over those candidates who are taking Level I again or taking Levels II or III.
- Priority may be given to students currently enrolled or applying for the MBA FIN:9250 Applied Security Analysis (Henry Fund) course or the undergraduate FIN:4250 Applied Equity Valuation (Krause Fund) course.
- Priority may also be given to students who have already enrolled for the CFA examination.
- Scholarship recipients for the December 2016 exam will be contacted by Wednesday, August 31st. Scholarship recipients for the June 2017 will be notified by mid-December.
- Depending on the number of applications historically, we anticipate that approximately five (5) scholarships will be available for the December 2016 exam, and the remaining ten (10) scholarships will be reserved for the June 2017 exam.