Your Guide to AICPA Foundation Scholarships

For many accounting students, financial barriers can feel like a major obstacle on the path to becoming a CPA. But as a leader from the AICPA Foundation and past scholarship recipients shared in a recent webinar, there is no single “perfect” background required to succeed. With preparation, self-awareness, and persistence, students from all walks of life can compete for awards of up to $10,000.

Led by Edwin Gonzalez, Scholarship Manager at the AICPA Foundation, the session offered a behind-the-scenes look at how applications are reviewed and what truly makes candidates stand out.

Understanding the AICPA Foundation and its mission

Founded in 1922, the AICPA Foundation awards more than $1 million annually to support students pursuing careers in accounting. These funds are supported by members, firms, and state societies that want to strengthen the future of the profession.

At its core, the Foundation recognizes that there is no “one-size-fits-all” path to becoming a CPA. Whether you’re transferring from a community college, returning to school later in life, or balancing work and family responsibilities, there is likely a scholarship designed with you in mind.

Key scholarship opportunities

AICPA Foundation Legacy Scholarships are among its most popular programs:

AICPA Foundation Scholarship for Future CPAs ($5,000–$10,000)

Supports undergraduate and graduate students committed to earning CPA licensure.

AICPA/PCPS George Willie Student Scholarship ($10,000)

Designed for first-generation college students with financial need who plan to pursue public accounting.

Two-year Transfer Scholarship ($5,000)

For students transferring from a two-year college to a four-year accounting program.

Each year, about 1,000 eligible applications are submitted, and roughly 100 students are selected.

In addition, the Foundation offers:

• CPA Exam Grants (up to $1,000)
• Doctoral and research fellowships
• AICPA Accounting Scholars Leadership Workshop (ASLW)

These programs ensure support at every stage of your CPA journey, from undergraduate study to doctoral research. See each program’s web page for application deadlines.

Who is eligible?

Although requirements vary slightly by program, most Legacy Scholarships look for:

• A GPA of 3.0 or higher
• Demonstrated financial need
• At least two accounting courses completed by the end of spring semester
• A strong interest in becoming a CPA
• S. citizenship or permanent legal residency

Notably, Gonzalez emphasized that GPA is not the most important factor. Judges care far more about commitment, motivation, and potential.

How the application process works

Applications for Legacy Scholarships open December 1 and close March 15. Extensions are rare.

Here’s what happens after you apply:

1. Applications are reviewed by about 100 volunteer judges, mostly CPAs and AICPA members.
2. Reviews take four to six weeks.
3. Decisions are typically announced by June.
4. Payments are sent directly to your school before the fall semester.

Because scholarships are paid to institutions, recipients must be enrolled in the upcoming academic year.

Building a strong application

1. Submit a professional résumé

Your résumé should be:

• Up to date
• Carefully proofread
• Uploaded as a PDF

Avoid screenshots, photos, or Word documents. With hundreds of applications to review, formatting issues can quickly lead to disqualification.

2. Provide clear transcripts

Unofficial transcripts are acceptable, but they must be readable and complete. If your school’s unofficial version looks confusing, invest in an official copy. It’s a small cost that can make a big difference.

3. Secure strong recommendations

Two letters of recommendation are required for most scholarships.

Ideally, one should come from:

• An accounting professor, or
• A practicing or retired CPA

If that isn’t possible, choose references who know you well and can speak honestly about your potential.

4. Take essays seriously

Short essays (around 300 words) are one of the most heavily weighted parts of the application.

Judges want to know:

• Why you chose accounting
• What challenges you’ve overcome
• How you plan to contribute to the profession

Answer optional questions whenever possible. More insight means more opportunities to earn points.

Lessons from past recipients

The webinar featured three scholarship winners who shared what helped them succeed.

Knowing your strengths

Ali Neziri, a former community college student who later interned with Ernst & Young, emphasized self-awareness.

By building strong relationships with faculty, particularly a former PwC professional, he earned detailed, personal recommendation letters that set him apart.

Being intentional

Martha Pierre-Louis, a junior at Loyola University Chicago, credited her leadership in founding an accounting organization and pursuing related internships.

Her strategy: Make every activity reinforce her long-term career goals.

Telling your story

Jean-Paul Annoual Maxi, a graduate of St. Francis College now working at Deloitte, encouraged applicants to embrace their personal journeys.

Judges want authenticity, not perfection.

The power of networking

All panelists stressed that networking plays a crucial role in scholarship and career success.

From joining campus organizations to attending recruiting events, relationships often lead to:

• Better recommendations
• Internship opportunities
• Long-term mentors

Ali noted that early in his career, he felt intimidated by firm leaders. Over time, he learned to see them as people first, which made meaningful connections easier.

Gonzalez also recommended mastering the STAR method (situation, task, action, result) and crafting an elevator pitch, skills that help in interviews, networking, and scholarship essays alike.

Beyond the money: Long-term benefits

Although up to $10,000 can significantly ease tuition costs, recipients agreed that the biggest benefits are intangible.

Being recognized by the AICPA Foundation:

• Enhances your résumé
• Strengthens your professional brand
• Signals credibility to employers
• Opens doors to new opportunities

As Ali explained, employers immediately recognize the value of Foundation awards, especially given how competitive they are.

Many recipients proudly highlight their scholarships on LinkedIn, résumés, and applications.

Applying with confidence

Edwin Gonzalez closed the webinar with a simple message: Apply.

There is no “perfect” candidate. The Foundation seeks diversity of background, experience, and perspective. Whether you’re a traditional student, a career changer, or a transfer student, your story matters.

If you meet the basic requirements, prepare carefully, follow instructions, and present your authentic self, you’ll set yourself up for a real opportunity.

Watch our Jan. 27 webinar, “From Application to Award: Your Path for up to $10K in Scholarships,” to hear the full conversation. (Scroll down to the past events section).