Financial firm Morgan Stanley is teaming up with HBCUs to eliminate financial barriers to higher education for African American college students. The $12 million initiative will support a total of 60 full scholarships for students enrolled in Howard University, Spelman College and Morehouse College.
The goal of the HBCU Scholars program is to prepare students to be financially independent, and those who are awarded the scholarship will have the entire cost of tuition and living expenses covered.Â
“Driving diversity beyond our four walls is part of our commitment at Morgan Stanley,” said Susan Reid, Managing Director and Global Head of Diversity and Inclusion, Morgan Stanley. “We are focused on supporting the HBCUs in a differentiated way that will create both short-term impact and sustainable outcomes, and look forward to this deeper journey with Howard University, Morehouse College and Spelman College.”
Morgan Stanley will also launch its HBCU Career Preparedness Program to ensure students are career ready. The programs are part of Morgan Stanleyâs newly established Institute for Inclusion, in support of the firmâs goal to create an integrated, holistic and transparent diversity and inclusion strategy.
“This program reflects our intention to invest in communities of color and support the career aspirations of Black students, consistent with one of our core values, Commit to Diversity and Inclusion,” said James Gorman, Chairman and CEO, Morgan Stanley. “We look forward to partnering closely with HBCU faculty and students to support rising talent in an effective and meaningful way.”
The scholarship program will begin in fall 2021.
