Morgan Stanley commits $12 million for HBCU scholarship initiative

Morgan Stanley commits $12 million for HBCU scholarship initiative

Morgan Stanley has announced the launch of a four-year, $12 million initiative in support of students at historically black colleges and universities (HBCUs).

With the aim of setting students on a path to educational attainment and financial independence, the Morgan Stanley HBCU Scholars program will fund sixty scholarships for students across all disciplines and majors at Howard UniversityMorehouse College, and Spelman College. Starting in the fall of 2021, the program will provide fifteen needs-based four-year scholarships annually. The scholarships will cover the cost of tuition and all education-related expenses, and recipients also will have access to the HBCU Career Preparedness Program.

"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 at the financial services firm. "We are focused on supporting the HBCUs in a differentiated way that will create both short-term impact and sustainable outcomes, and [we] look forward to this deeper journey with Howard University, Morehouse College, and Spelman College."

"The most significant challenge many of our brilliant Spelman students face is the financial barrier to college completion," said Spelman College president Mary Schmidt Campbell. "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."

(Photo credit: Howard University)