CFP Board Scholarships: Requirements and Opportunities for Aspiring Financial Planners

Becoming a Certified Financial Planner (CFP®) can significantly advance your professional career. This certification involves meeting specific education and examination requirements. The CFP® Board Center for Financial Planning offers various scholarship programs to assist with the costs associated with pursuing certification. If you are considering applying for a CFP® scholarship, understanding the eligibility requirements and available opportunities is crucial.

Understanding CFP Board Scholarships

The CFP® Board provides numerous scholarships for individuals aspiring to become CFP® professionals. These scholarships are designed to help cover the costs of completing the necessary education and exam requirements for certification. Funding for these scholarships comes from sponsors and donors. Each scholarship has its own unique eligibility criteria, application process, and deadlines, and the award amounts can vary. Some of the largest scholarships offer up to $10,000 in funding to recipients.

In addition to administering its own scholarship programs, the CFP® Board also maintains a clearinghouse of third-party scholarships. This clearinghouse lists scholarship programs from various organizations that offer funding for education coursework, CFP® exam fees, and CFP® exam review courses.

General Eligibility Criteria for CFP® Scholarships

Each scholarship offered through the CFP® Board has its own specific requirements that applicants must meet to qualify for funding. However, some general criteria are commonly considered:

Residency: Residency within the United States is typically required to apply for most scholarships.
Diversity: Diversity is a significant consideration for many CFP® Board scholarships. To qualify, applicants may need to belong to an underrepresented population within the financial planning industry. Underrepresentation can include factors such as gender, race, ethnicity, disability, or sexual orientation. In some cases, military veteran status may also be considered for determining eligibility.
Background Check: Applicants who reach the final round of consideration for any CFP® scholarship must pass a background check.

CFP Board Center for Financial Planning Scholarships

The CFP Board Center for Financial Planning Scholarships offers multiple fall and spring scholarship programs each year, administered by The University Network (TUN.com), totaling hundreds of thousands of dollars. To qualify, applicants must pursue an undergraduate, graduate, or certificate-level CFP Board Registered Program. Scholarship recipients who complete their program will be eligible to sit for the CFP® exam and advance toward CFP® certification. Qualified students stand to win up to $10,000 each.

Read also: Scholarships and College Expenses

The College for Financial Planning® Scholarships

The College for Financial Planning®-a Kaplan Company awards up to 60 scholarships per year (30 awarded in each of two cycles) to individuals from underrepresented groups pursuing CFP® certification. The College created this scholarship to help correct long-standing disparities in CFP® certification and foster a more representative financial planning community.

Award Package

Each scholarship recipient will receive tuition and digital textbooks for the following:

Structured schedule of seven OnDemand CFP® certification classes with regular touchpoints during each course
Exam Prep Review (choice of Live Online, OnDemand, or available Onsite classes)

Note that due to the fixed schedule of classes, course extensions are not available to scholarship recipients. The scholarship does not cover optional print books or the cost of re-enrolling in a course if the scholarship recipient does not pass the course on the initial attempt.

Expected Program Start Dates

Scholarship recipients are expected to begin their coursework in the academic term immediately following their award notification. For the December 31st application deadline, classes will begin in March 2026. For the April 30th deadline, classes will begin in July 2026. Recipients must commit to starting their program on schedule to maintain eligibility for the Financial Advisor Futures Scholarship. Deferrals are not permitted.

Time Commitment

Recipients must be committed to the following:

Completing the entire scholarship program (education and exam prep) within 2 years of starting the program.
Adhering to a fixed schedule of OnDemand classes with regular touchpoints during each course.
Fulfilling an average of 15 hours of class and coursework time each week to successfully keep pace with the program.

Program Requirements

To graduate from the CFP® education program and be eligible to sit for the CFP® exam, scholarship recipients must complete all seven courses in the program:

FP511 General Financial Planning Principles, Professional Conduct, and Client Psychology
FP512 Risk Management, Insurance, and Employee Benefits
FP513 Investment Planning
FP514 Tax Planning
FP515 Retirement Savings and Income Planning
FP516 Estate Planning
FP517 Financial Plan Development

The scholarships prepare awardees to sit for the CFP® exam two years after the start of the scholarship. Because of this structure, recipients have two years to complete all seven required education courses.

Eligibility Requirements

Important Note: Students currently enrolled in a CFP® certification education program or CFP® certification education course through the College for Financial Planning®-a Kaplan Company are not eligible to apply.

Applicants must meet the following criteria:

Must be a U.S. resident
Must have a bachelor’s degree from a regionally accredited institution or the equivalent of a bachelor’s degree from an institution outside of the United States
Must not be a student who:
- Is currently enrolled in a CFP® certification education program or CFP® certification education course through the College for Financial Planning.
- Has previously been awarded a CFP® certification education program scholarship by College for Financial Planning.
Must demonstrate a strong work ethic, significant achievements in the classroom or workplace, and the highest personal integrity.
Must come from an underrepresented population within the financial planning profession. The applicant must demonstrate how they represent an underrepresented demographic.
Industry experience is strongly preferred, but not required.

Application Deadlines

Up to 30 scholarships will be awarded two times a year (totaling up to 60 scholarships annually). The next application deadline is December 31, 2025. Individuals awarded scholarships associated with this deadline will start their scholarship program in March 2026. Future upcoming deadlines include: April 30, 2026 (for scholarships program which starts July 2026). Unsuccessful applications will not roll over to the next review cycle.

Specific CFP® Scholarship Examples

Reviewing different scholarship options offered through the CFP® Board can provide a clearer understanding of the qualifications needed. Here are a few examples:

The LeCount R. Davis, CFP® Endowed Scholarship

This scholarship awards up to $5,000 to students completing an undergraduate-level or certificate-level CFP® Board Registered Program. Applicants must provide proof of enrollment in an eligible program and submit an essay demonstrating their commitment to financial planning and community service.

Aspiriant Impact Scholarship

The Aspiriant Impact Scholarship provides up to $5,000 to students completing a certificate-level CFP® Board Registered Program or up to $10,000 for students completing an undergraduate-level program. Applicants must also exhibit professionalism and commitment to the financial planning profession.

Facet Scholarship for Increased Diversity in Financial Planning

The Facet Scholarship for Increased Diversity in Financial Planning awards up to $5,000 to aspiring CFP® professionals who identify as African American or Black. Recipients are not required to be affiliated with Facet upon completing the program.

The Envestnet Scholarship

This scholarship awards students up to $5,000 to complete a certificate-level CFP® Board Registered Program or up to $10,000 to complete an undergraduate-level CFP Board Registered Program.

The Ballentine Partners Scholarship to Create a Diverse Financial Planning Profession

This scholarship offers up to $5,000 to students looking to complete coursework for a CFP® Board Registered Program.

The WIN Endowed Scholarship

The WIN Endowed Scholarship is the second endowed scholarship offered by CFP Board, following the 2022 creation of the LeCount R. “Welcoming more women into the financial planning profession is good for women, good for the profession and good for business,” said Nancy Kistner, CFP®, a past Chair of CFP Board (2013) and Founding Chair of WIN Council. CFP Board launched its Women's Initiative (WIN) in 2013 with the aim to attract, develop and advance women in financial planning by providing educational resources, networking opportunities and advocacy for gender diversity. Individuals and corporations alike have contributed to the WIN Endowed Scholarship. Robert J. Mark E.

Application Process and Deadlines

The CFP® Board regularly updates each scholarship page with application window opening and closing dates. Each scholarship has its own application form, and if an essay is required, it must be included with the application. Being aware of eligibility requirements and application deadlines is crucial to avoid missing potential funding opportunities.

Additional Support for CFP® Certification

Colleges and universities with CFP Board Registered Programs in financial planning also offer scholarship programs. Many financial services firms support CFP® certification by encouraging employees to become certified and offering reimbursement for coursework related to achieving CFP® certification.

XYPN members receive $200 off the CFP® exam price! Recipients of the XYPN CFP® Exam Scholarship and the XYPN Diversity CFP® Exam Scholarship will have 12 months, from the date credit is placed on their CFP account, to register for the CFP exam. Note: The CFP® Certification Examination is just one of several requirements that need to be met in order to become a CFP® professional.

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