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CFA Institute University Affiliation Program logo

The Broad College of Business is a CFA University Affiliation Program Partner of the CFA Institute, a global membership organization that awards the Chartered Financial Analyst® (CFA®) designation. To qualify, the CFA Institute determined that Broad 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 advisors and other investment professionals worldwide. It is widely considered the investment profession’s most rigorous credentialing program.

Benefits to Students

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.
  • Preparation 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.

About CFA Institute

CFA Institute is the global nonprofit association of investment professionals that awards the CFA and CIPM designations. It promotes the highest ethical standards and offer a range of educational opportunities online and around the world.

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

MSU/CFA Scholarships

As a CFA Institute University Affiliation Program Partner, the Department of Finance has 10 scholarships for the CFA exams. The scholarship recipients are competitively selected based on students’ academic performance, commitment to hard work and desire to embark on the CFA certification process. Students planning to take the CFA exam in December 2019 or June 2020 may apply. Students interested in applying for a scholarship must email a resume, current transcript and a letter of interest (include why you wish to pursue the CFA, how it fits into your career plans and your intended study plan) to Steve Schiestel at and fill out the online application.

CFA Scholarship Application

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 2021, you may take the Level I exam in December 2020 and the Level II exam in June 2021.

What support does the scholarship offer to CFA candidates?

The CFA program exam registration fee includes the full curriculum and one online sample exam.

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

What are the CFA exam registration fees without a scholarship?

December 2020 (Level I only)

  • Early registration fee (ends March 27, 2020): $700
  • Standard registration fee (ends August 19, 2020): $1,000

June 2021 (Levels I, II and III)

  • Early registration fee (ends November 3, 2020): $700
  • Standard registration fee (ends February 23, 2021): $1,000