Most college students don't know the FARE SIE scholarship exists.
The FARE Scholarship is designed to help current FARE students pursue their Securities Industry Essentials (SIE) designation. Approximately 15 recipients will each receive $2,000 to support their preparation and examination costs, with an additional $1,000 bonus awarded upon successfully passing the exam. Earning the SIE is widely regarded as a foundational milestone for anyone looking to launch a career in financial services.
Securities Exam Opportunities
Here's an uncomfortable truth about breaking into financial services as a college student: everyone applying for the same internships has roughly the same resume. Same finance major, same GPA range, same campus clubs. So what actually separates the candidates who get the call back from the ones who don't?
A lot of the time, it comes down to one thing: drive. Specifically, whether you've taken the initiative to gain foundational knowledge crucial to future securities credentials. The Securities Industry Essentials (SIE) exam is the clearest signal you can send to a finance employer that you're serious, and the FARE SIE Scholarship will pay for you to get there.
What a $3,000 scholarship and one exam can do for your job search, and why most students are leaving this opportunity on the table:
1. THE OPPORTUNITY: WHAT IS THE FARE SIE SCHOLARSHIP?
Free money to gain additional knowledge that actually moves the needle.
FARE, the Financial Alliance for Racial Equity, is a coalition of financial services firms, industry organizations, and colleges working to build a more representative pipeline into finance. One of their flagship programs for students is the FARE SIE Scholarship, and it's one of the most straightforward scholarship opportunities out there. They give you money to study for and take the SIE exam. If you pass, they give you more money.
That's really it. No lottery odds. No obscure essay prompt. Just a focused scholarship designed to get motivated students licensed and career-ready before graduation.
Bottom line: You could pocket up to $3,000 total, more than enough to cover every cost associated with sitting for the SIE, with money left over, just by studying and passing a single exam. That's not a bad deal for an exam that costs less than $200 to prepare for and take!
2. WHY THE SIE ACTUALLY MATTERS TO EMPLOYERS
It's not just a piece of paper. It's proof you did something.
A lot of students treat certifications like checkbox items, things you do because a professor told you to or because the bullet point looks nice on a LinkedIn profile. The SIE is different because it's an actual FINRA-administered industry exam, not an online course with a certificate at the end. Employers in financial services know exactly what it takes to pass it, and they notice when a student has done it without being asked.
The SIE also serves a practical purpose beyond the knowledge gained. It's the required prerequisite for the "top-off" licenses, the Series 6 and Series 7, that allow you to legally sell securities and variable products after graduation. Firms that want to hire you for those roles need someone whose SIE score is still valid. A passing score stays on your record for four years, meaning you can walk into your first job already a step ahead of the licensing process.
| SIE Exam Detail | Information |
|---|---|
| Administered by | FINRA (Financial Industry Regulatory Authority) |
| Number of questions | 75 multiple choice |
| Exam duration | 1 hour and 45 minutes |
| Passing score | 70% |
| Exam fee | $100 (paid to FINRA) |
| Score validity | 4 years from pass date |
| Firm sponsorship required? | No, open to anyone 18 or older |
| Typical study time | 30–40 hours |
The eligibility criteria are specific, but not complicated.
The FARE SIE Scholarship is designed for students at FARE partner campuses, which includes a strong network of HBCUs and minority-serving institutions, who are pursuing careers in financial services. If you're at one of those schools and you meet the academic bar, the main thing standing between you and the application is initiative.
Not affiliated with a FARE member organization? That's no reason to overlook the value of the SIE! While the $3,000 scholarship is available exclusively to FARE member students, the benefits of passing the exam extend far beyond the financial reward. Passing the SIE sends a powerful message to prospective employers, setting you apart from others who have not yet passed the exam.
- Currently enrolled at a FARE partner campus
- Minimum 3.2 GPA and in good academic standing (official transcript required)
- 18 years of age or older
- U.S. citizen, permanent resident, or holder of a valid student visa
- Active on campus and in the community
- Demonstrated interest in financial services or a related major
- Ability to submit two professional references, a resume, and two 500-word essays
Not sure if your school is a FARE partner campus?
Current educational institutions can be found here: thefare.org.
- Delaware State University
- Hampton University
- Howard University
- North Carolina A&T State University
- Virginia State University (VSU)
- Virginia Union University (VUU)
- Winston-Salem State University (WSSU).
4. HOW THE MONEY GETS DISTRIBUTED
It's structured to keep you moving, not handed out all at once and forgotten.
The FARE SIE Scholarship isn't a single lump-sum check. It's disbursed in up to three installments tied to real milestones. That structure is actually smart: it means every award is tied to progress, so you're building momentum with each payment rather than getting money and stalling out.
Enroll in an SIE Study Course
"Scholarship awards will be disbursed once the recipient has provided proof of enrollment in an SIE study course ($1,000)." This first payment kicks in as soon as you commit to studying, a signal that the scholarship rewards action, not just good intentions. The Acadio SIE prep course is only $79 with access for up to 1 year.
Register for the SIE Exam
Submit proof of official registration through FINRA's testing partner. The second payment comes when you've put a test date on the calendar and committed to showing up. The cost to take the SIE exam is currently $100. Learn more about scheduling your SIE exam. Questions? Call the FINRA Support Team at (240) 386-4040.
Pass the SIE Exam
Good news, pass rates are high. You just need to provide proof that you passed, and the bonus $1,000 is yours. This is the milestone that takes your total payout to $3,000, and more importantly, launches your career for future FINRA credentials.
Pursue Top-Off Licenses & Entry-Level Roles
With your SIE score valid for four years, you now have time to secure firm sponsorship and sit for the Series 6 or Series 7, the credentials that authorize you to sell securities and open doors to roles paying significantly more than typical entry-level finance positions.
5. HOW TO APPLY, AND WHEN
The last application window opened in Fall 2025. Register to join FARE here for important updates: https://thefare.org/join-fare/
The most prepared applicants won't be scrambling for references in October. They'll have a clean resume, a polished essay, and a clear sense of why the SIE matters to their specific career goals, because they thought about it months before the form went live.
Here's what the application requires when the window opens:
- Completed application form (submitted at thefare.org)
- Official college transcript showing 3.2+ GPA
- Current resume highlighting finance-related experience and campus involvement
- Two professional references
- Two 500-word essays, one on why the SIE is critical to your career, one on why the scholarship support matters financially
- Professional headshot
Be concrete. Be specific. Avoid boilerplate career language. The essays are your real opportunity to stand out. The strongest applications won't describe the SIE in generic terms; they'll connect it to specific internships they want, specific firms they're targeting, and specific reasons why passing the SIE makes sense for where they're headed.
6. THE BIGGER PICTURE
This scholarship isn't just about one exam; it's about who you become in the process.
Getting the SIE on your own, as a student, before a firm ever asked you to, says something about your character that no GPA or club membership can say as cleanly. It says you understand how the industry works, you're not waiting to be told what to do, and you're serious enough to invest real time in your own preparation.
The FARE SIE Scholarship not only removes the financial barrier that keeps many students from making that move, but it also motivates students to gain key knowledge that can help financial services candidates secure internships and job interviews. It covers exam prep, registration fees, and the exam itself, and it rewards you additionally for following through. For students at FARE partner campuses who are even remotely considering a career in financial services, there's no good reason not to apply.
The application window opens in the Fall. Visit thefare.org/fare-sie-scholarship-program to review eligibility and get notified when applications open. Use the time between now and then to build the resume, line up the references, and draft the essay. The students who do that work early are the ones who tend to win, both the scholarship and the career that follows it.
Note: The Securities Industry Essentials (SIE) exam serves as a foundational stepping stone and by itself is not considered a professional credential. While it demonstrates a basic understanding of the securities industry, passing it alone does not grant an individual the authority to sell securities or offer investment advice.
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Written By: Nate Boe | Co-Founder and Editorial Director
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