Investment firm Morgan Stanley has announced the launch of Morgan Stanley HBCU Scholars, an integrated program to strategically engage with and support HBCUs. The program will provide full scholarships for HBCU students at Howard University in Washington, D.C., Morehouse College in Atlanta, and Spelman College in Atlanta. The program is designed to support the students’ career skills and readiness to help set them on a life-long path to success.
As an initial investment, Morgan Stanley will provide five academic and needs-based four-year scholarships at each institution for the next four years; a new class of scholars will be added each year for a class size of 60 by the fourth year. 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. Additionally, the firm will provide a career-readiness program, to HBCU scholars, with virtual and on-site components, to complement their on-campus curriculum.
“To close the racial wealth gap, we know that Black academic and economic advancement is essential. Racial inequity around access to and affordability of higher education can impact Black students’ ability to grow generational wealth,” says Susan Reid, Morgan Stanley’s Global Head of Diversity and Inclusion. “Historically Black Colleges and Universities continue to lead the way in leveling the playing field while creating an environment for students of color to thrive. We are proud to support them and their students and we look forward to this deeper journey with Spelman, Morehouse and Howard.”