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CFA University Affiliation Program

MSU/CFA scholarships

As a CFA Institute University Affiliation Program Partner, the Finance Department has 10 scholarships for the CFA exams. The scholarship recipients are competitively selected based on a student’s academic performance, commitment to hard work, and desire to embark on the CFA certification process.  Students planning to take the CFA exam in December 2018 or June 2019 may apply, but apply early.  The deadline to apply is Jan. 10, 2019.  Students interested in applying for a scholarship must e-mail a resume and a letter of intent to Professor Steve Schiestel ( and fill out the application by following the link:  CFA Scholarship Application.

CFA Institute University Affiliation Program Partner

In 2007, the Broad School was named a CFA Program Partner by the CFA Institute, a global membership organization that awards the Chartered Financial Analyst®(CFA®) designation. To qualify, the CFA Institute determined that the Broad School offers a degree program that covers at least 85 percent of the CFA Program Candidate Body of Knowledge, the CFA Institute ethical and professional standards, and other requirements.

The CFA Program sets a standard for developing the skills, standards, competence, and integrity of financial analysts, portfolio managers, investment advisers, and other investment professionals worldwide. It is widely considered the investment profession’s most rigorous credentialing program.

To learn more about the CFA designation and the resources available for students, please visit the CFA website.


When can I apply for a scholarship for the CFA exams?

Students must be in the final year of their bachelor degree program to sit for the first exam.

For a student graduating in May 2019, you may take the Level 1 exam in December 2018 and the Level 2 exam in June 2019.

What support does the scholarship offer to CFA candidates?

The CFA Institute recently announced that the CFA Program exam registration fee will include the full curriculum and one online sample exam.

  • Candidate pays $350-$450 depending on the curriculum format selected.

CFA Exam Registration Fees without scholarship are as follows:

December 2018 (Level 1 only)

  • Early Registration Fee (Deadline Passed)
  • Standard Registration Fee (End Aug. 22, 2018):  US $950
  • Late Registration Fee (Ends Sep. 12, 2018): US$ 1,380

June 2019 (Levels I, II, & III)

  • Early Registration Fee (Ends October 10, 2018): US$ 650
  • Standard Registration Fee (Ends Feb. 13, 2019): US$  950
  • Late Registration Fee (Ends Mar. 13, 2019): US$ 1,380

CIPM Exam registration Fees are as follows:

  • First-time registering for the Principles exam or the Expert exam: US$975
  • Returning to register for the Principles or the Expert exam: US$500

CFA Institute

CFA Institute is the global, not-for-profit association of investment professionals that awards the CFA and CIPM designations. We promote the highest ethical standards and offer a range of educational opportunities online and around the world.


How do students benefit from the MSU CFA partnership?

The initiative offers students in the program:

  • Access to scholarships towards the registration and enrollment fees associated with the Level I exam;
  • CFA Institute textbooks, journals, webcasts, and other educational resources.
  • Will prepare students for Investment decision-making and strategy, portfolio and wealth management, institutional investing, and investment analysis.

Students also benefit from professional development events held in conjunction with the CFA Society of Detroit and the CFA West Michigan Society, the local membership bodies for CFA Institute candidates, charterholders, and members.

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