HBCU Scholarship Program

Our scholarship aims to provide current HBCU students with the necessary funds to prep for and take the Securities Industry Essentials (SIE) exam

Exam Cost

$80.00

Course Information & Cost

Best SIE Exam Prep Courses

Application Launched

September 13, 2023

Application Deadline

October 13, 2023 11:59pm EST

About the HBCU Scholarship

The Securities Industry Essentials (SIE) exam is one of the first steps to take when starting a career in financial services. This scholarship will provide up to 15 HBCU students with $2,000 each to help prepare them to sit for and take the exam. If the recipient passes the SIE exam, an additional award of $1000 will be provided.

2023 Applications have closed but subscribe for updates on 2024 scholarships

Our Sponsors

About the Scholarship

The Financial Alliance for Racial Equity (FARE) HBCU Scholarship aims to provide current FARE HBCU students with the opportunity to receive their Securities Essential Exam (SIE) designation. This scholarship will provide 15 FARE HBCU students with $2,500.00 each to help prepare them to sit for and take the exam. If the recipient passes the SIE exam there is a bonus of $500 to $1,000. The Securities Industry Essentials (SIE) is one of the first steps to take when starting a career in financial services.

Scholarship Eligibility Requirements

In order to apply for the FARE HBCU Scholarship, students must meet the following requirements:

Current HBCU student with a 3.2+ GPA in good academic standing.
Possess an unofficial transcript and active in campus/community.
Interested in financial services and at least 18 years old.
U.S. Permanent resident, Citizen, or active student visa with a demonstrated professional image in an application essay.

Submission Requirements

Complete application
Transcript
Resume
Maximum 500-word essay stating why the SIE designation is critical to your professional development and career aspirations and why this scholarship would assist you financially
2:00 minutes max video introduction with reasons why the SIE destination would be beneficial to your professional development and career aspirations
2 professional references

Scholarship Award

The HBCU scholarship will be awarded in 2-3 installments:

Scholarship awards will be disbursed once the recipient has provided proof of enrollment in an SIE study course ($1,000.)

An additional award will be disbursed once the recipient has registered and provided proof of registration for an SIE exam ($1,000.)

$1000 bonus provided to students that provide proof that they passed the SIE exam

Judging Committee

Nov 09, 2017

By September 20

Nominate 2 judges per Transform Elite firm and Executive Sponsor. Judge must commit to reviewing pre-screened applications and scoring applicants.

Note: Both Judges and Executive Sponsors must be available for Virtual Scholarship Recipient Ceremony & Networking Hour

October 6

Scoring grid and submission package will be delivered to judges

October 9- 17

Dates to review application

On/Before October 20

An email will be sent to judges and Transform Elite executive leadership announcing scholarship awardees

Scholarship Award Ceremony & Networking Hour

Join us in November

All scholarship recipients will be brought together along with the FARE Board of Directors and FARE guests to network and celebrate their achievements

Launch Strategy & General Marketing

Black Digital to create submission portal for prospective scholarship recipients by September 1 launch
Leverage social media, and utilize various platforms to engage with the audience
Digital graphics for the FARE HBCUs to advertise on campus
Partner with HBCUs to encourage students to apply
Kristi Rodriguez (FARE President) announces scholarship and encourages students to apply at HBCU Live Event
Social Media: LinkedIn Marketing
Leveraging the relationship with HBCU Connect to promote amongst alumni and young professionals

Strategy To Stay Engaged with Applicants

Have applicants follow the FARE social media pages

Scholarship Recipient spotlight/social card for recipients to repost
One paragraph highlighting each scholarship recipient
Scholarship award (hard copy) sent in mail with virtual version for social media post

Newsletter spotlight for recipients that received the SIE designation
Each recipient will receive a spotlight in FARE’s quarterly digital publication
Add to FARE distribution list.
Invite to all future FARE webinars

Frequently Asked Questions

What is the Securities Industry Essentials (SIE) exam?

The SIE exam is FINRA’s general industry exam. It tests basic knowledge of products, risks, the structure and function of the securities industry and its regulatory agencies, and regulated and prohibited practices. Although ideal for university students and career changers, anyone can sit for the exam without prior association with a firm.

Can I take the SIE exam while I am still in college?

Yes! With a low exam fee ($60) and no firm sponsorship requirement, the SIE exam is ideal for university students who want to get a head start on a financial services career and, most importantly, stand out to potential employers by proving their mastery of basic industry knowledge and the ability to pass a high-stakes examination.

How can I use the SIE to my advantage in my career?

The SIE gives you a head start on a financial services career. Current or potential employers are more likely to notice you because you can prove you have a grasp of basic industry knowledge and the ability to pass a high-stakes examination.

What topics are covered on the SIE exam?

The range of topics covered on the SIE exam include:

Knowledge of Capital Markets
Understanding Products and their Risks
Understanding Trading, Customer Accounts, and Prohibited Activities
Overview of the Regulatory Framework.

What happens after I pass the SIE exam?

To become registered with FINRA and seek a representative level role with an employer, you must also pass a revised, specialized knowledge qualification exam (or “top-off”) applicable to your job function with the firm.

FARE HBCU Scholarship Application

Please use the form below to apply for the 2023 Scholarship.

Application Guidelines:

Essay: Create and upload an essay stating why the SIE designation is critical to your professional development and career aspirations and why this scholarship would assist you financially (maximum 500 words)
Video: Create and upload a video URL explaining why the SIE destination would benefit your professional development and career aspirations. (maximum two minutes. Please use a platform such as YouTube, Vimeo or Dropbox to upload your video and generate a URL)
References: Please submit two professional references with your application.

Essay

Create and upload an essay stating why the SIE designation is critical to your professional development and career aspirations and why this scholarship would assist you financially (maximum 500 words)

Video (Optional)

Create and upload a video URL explaining why the Securities Industry Essentials (SIE) Exam designation would benefit your professional development and career aspirations. (maximum two minutes. Please use a platform such as YouTube, Vimeo or Dropbox to upload your video and generate a URL)

References

Please submit two professional references with your application.

Subscribe for Updates on 2024 scholarships

Use the form below to begin your application.

Full applications are due by Friday October 27, 2023 at 11:59pm ET