The educational arm of the IAQF is the Fischer Black Memorial Foundation (FBMF). While the IAQF focuses on the profession of financial engineering, the FBMF aims to expose students to the financial engineering field and help them work towards a career in the industry. Financial engineering is often underrepresented on university campuses and the FBMF tries to bridge the gap between academia and the professional world. The main tool of the FBMF is the very successful “How I Became a Quant” event series that bring professionals to college campuses to tell students about their experiences getting into the field. The FBMF also co-hosts (along with SIAM and New York University) an annual career fair that draws students from all over the country to meet with the premier hiring companies in the industry. This is one of the only career fairs that is specifically for financial engineering and it is hugely popular with both the students and companies.

Recently, a book based on the Quant panels was published entitled "How I Became a Quant: Stories from 25 of Wall Street's Elite" that was edited by Chairman of the IAQF Board of Directors Richard Lindsey and IAQF Advisory Board Member Barry Schachter. All royalties go to the Fischer Black Memorial Foundation. .