Morgan Stanley Launches Program to Provide 60 Students with Full-Four Year Scholarships to Howard University, Morehouse College and Spelman College

Wednesday, October 21, 2020

Morgan Stanley Launches Program to Provide 60 Students with Full-Four Year Scholarships to Howard University, Morehouse College and Spelman College

NEW YORK - 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:

  • Financial Support
    • 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.
  • Career Readiness
    • 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...

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