Scholarships and Financial Aid for ACCA Students

ACCA is a certification that has global recognition and opens career opportunities for ACCA-certified accountants in over 180 countries. ACCA supports its students with financial aid in the form of the Simpson Scholarship which rewards talented students of ACCA who performed well in the ACCA exams.

The scholarship was a gift from an FCCA named Muriel Simpson and aims to fund hard-working and deserving ACCA students. This is a yearly ACCA scholarship program awarded to five students chosen based on merit and other criteria.

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The Amity Online blog provides you with insights into the ACCA Scholarship Program, including the application process—eligibility Criteria Required documents, and other important information. Read the complete instructions to understand and apply for this scholarship further.

What is a Scholarship for ACCA Aspirants?

A scholarship is a financial aid that supports students in achieving their dreams of becoming an ACCA-certified accountant to pursue a career in finance and accounting.

The Simpson Scholarship ACCA program awards talented students who perform exceptionally in the ACCA exams. This financial aid for ACCA students was introduced in memory of Muriel Simpson, an FCCA that aims to fund hard-working and deserving ACCA students. This is a yearly scholarship program that awards five ACCA students chosen based on merit and other criteria.

Besides the above, ACCA India offers a special scholarship for ACCA DipIFRS holders in India. To be eligible for the ACCA scholarship for Indian students, you have to be an Indian resident with a BCom or MCom degree and a DipIFRS holder. Under this scholarship program, eligible students will be awarded a scholarship worth over Rs 55,000 to support their ACCA Qualification including;

• Initial registration fees
• Annual subscription fee for the first year, and
• Exemption fees for five papers (F1-F4 and F7)

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Who is Eligible to Apply for the ACCA Scholarship?

To be eligible for the ACCA Simpson Scholarship, applicants must meet the qualification criteria and submit a 1,000-word essay. Below are the criteria that ACCA scholarship candidates must fulfill:

• Candidates must be a registered ACCA student
• Candidates must have paid their fees for the year ahead
• There should be no outstanding fees
• The candidate must secure 80% or above on their first attempt in the Applied Knowledge and Corporate & Business Law (LW) in the ACCA Qualification exam.
• In case the candidate is exempted from the Applied Knowledge exams, they need at least a 66% score in two Applied Skills exams.

How to Apply for the ACCA Scholarship?

To apply for the ACCA fully-funded scholarship, the first requirement is to check if the student is eligible for it. If you fulfill the eligibility criteria, you can submit your application to ACCA. Along with the application, the candidate must submit an essay on how the scholarship will help the student realize his/her full potential and submit it along with the scholarship form.

What’s Next?

Once candidates submit their ACCA scholarship application along with the essay, they will receive an acknowledgment from the organization. In case your application doesn’t meet the required criteria, ACCA will notify you about the same. The selection process takes place in three stages and you can get the details of the important dates from the ACCA portal.

Once the selection procedure is completed, ACCA notifies the five Scholarship winners via email. The winners are sent a letter and other information to ensure that they will receive the scholarship funds.

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How do Students Benefit from Scholarships?

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ACCA’s Simpson Scholarship program covers the ACCA subscription fees for the students. It also covers exam fees for the next five years or till the student qualifies for ACCA to become a member. Finally, it covers the ACCA membership cost.

Besides, the winners of the scholarship are presented with a set of learning materials for each ACCA exam they are currently studying for from an ACCA Approved Content Provider.

Below are the benefits that the scholarship fund allows:

• exam fees
• annual student subscription fees (up to five years)
• annual affiliate subscription fees (up to five years)
• membership admission fee (excluding the annual ACCA membership subscription fee)

Conclusion

ACCA scholarship helps students to fast-track their careers and increase their employability. The ACCA certification helps them gain an advantage in the employment market by gaining valued skills in different areas. It also increases their chances of working in the global platform by becoming globally recognized professional ACCA accountants.

If you are a finance and accounts aspirant willing to enroll in an ACCA certification program, Amity Online is your best platform to acquire an ACCA degree and pursue an excellent career in this field.