The American College of Financial Services has launched a new effort with the goal of increasing the racial diversity of the financial services workforce. According to the college, only 8 percent of financial services officers have African ancestry.
The College has committed to awarding at least 25 scholarships to African Americans with 15 dedicated to students from historically Black colleges and universities. Students who have completed their sophomore year, and are enrolled and in good academic standing at any four-year, bachelor’s degree-granting HBCU are eligible to apply for an HBCU Scholarship.
George Nichols III, president and CEO of The American College of Financial Services, stated that “HBCUs have played a key role in the fight for racial equality and are stewards of Black intellectual thought leaders and professionals.” Nichols was the first African-American insurance commissioner for the Commonwealth of Kentucky and the first African-American president of the National Association of Insurance Commissioners. He holds a bachelor’s degree from Western Kentucky University and a master’s degree from the University of Louisville.
“One of the ways The College can increase diversity in the financial services profession is to start by inspiring the next generations of professionals,” added Deborah Eskridge Glenn, vice president of administration and chief human resources officer at The American College of Financial Services. “This kind of engagement starts at the undergraduate level when students are still considering their career options. Partnering with HBCUs can help us reach the next generation of Black leaders.”
More about the HBCU scholarship program can be found here.