Morgan Stanley Launches Program to Provide 60 Students with Full-Four Year Scholarships to Howard University, Morehouse Colle...
October 21 2020 - 8:42AM
Business Wire
- Scholarship will cover the tuition and living costs to
eliminate financial barriers to higher education for Black college
students
- Morgan Stanley will also provide support for career skills and
readiness
Morgan Stanley today announced the launch of Morgan Stanley HBCU
Scholars, an integrated program to strategically engage with and
support Historically Black Colleges and Universities (HBCU). The
program will support 60 scholarships for students at Howard
University, Morehouse College, and Spelman College to set scholars
up on a path to educational attainment and financial independence
by lifting the barrier of higher education costs. This effort is a
part of Morgan Stanley’s larger mission to create an integrated,
holistic and transparent diversity and inclusion strategy both
internally and externally through the Institute for Inclusion
announced in June.
To view the video announcement, please see here.
Morgan Stanley HBCU Scholars will have the following major focus
areas programmatically:
- For the next four years, Morgan Stanley will provide academic
and needs-based four-year scholarships (“Morgan Stanley HBCU
Scholars Program”) at each institution. The scholarships will cover
the entire cost of attending the institution for each academic year
and will be open to students across all disciplines and
majors.
- The first year class size is 15 scholars; a new class of
scholars will be added each year for a class size of 60 by the
fourth year.
- Morgan Stanley will be spending up to $12 million to support
this program.
- The “HBCU Career Preparedness Program” will be offered to
Morgan Stanley HBCU Scholars with virtual and on-site (post
COVID-19) components to complement their on-campus curriculum
“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 participating schools include Howard University, Morehouse
College and Spelman College – with the hope of expanding to other
schools in the future. The program will begin in the fall 2021
semester. The HBCUs will invite students who have a demonstrated
history of academic excellence to apply for the program.
“Reducing the financial burden for black students to receive an
education is a proven method to enhance their job prospects and
economic opportunities,” said Dr. Wayne A. I. Frederick, President,
Howard University. “We are most appreciative to Morgan Stanley for
supporting our students. These partnerships between
industry-leading companies and HBUCs are essential to promoting
diversity and inclusion, and realizing greater representation in
our society.”
“The Morgan Stanley HBCU Scholars program will make college a
reality for students in families who could not otherwise afford a
higher education,” said David A. Thomas, President, Morehouse
College. “The gift will not only improve the lives of scholarship
recipients, it will also lead to positive changes for communities
of color.”
“The most significant challenge many of our brilliant Spelman
students face is the financial barrier to college completion,” said
Mary Schmidt Campbell, Ph.D., President, Spelman College. “Through
academic research, innovations and advocacy, our students are
already working to advance solutions to some of the world’s most
difficult issues. We greatly appreciate the generous support from
Morgan Stanley, which will allow our change agents to graduate debt
free and pursue opportunities that will have a significant impact
on society.”
“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.”
To learn more about the participating HBCUs, please visit Howard
University, Morehouse College and Spelman College.
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing investment banking, securities, investment
management and wealth management services. With offices in more
than 41 countries, the Firm's employees serve clients worldwide
including corporations, governments, institutions and individuals.
For more information about Morgan Stanley, please visit
www.morganstanley.com.
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