Morgan Stanley and Morehouse College Announce Inaugural Class of HBCU Scholars Program

Rhea-AI Summary

Morgan Stanley and Morehouse College have announced the inaugural cohort of the HBCU Scholars Program, which will provide four-year scholarships covering tuition and room and board for five students. This initiative aims to eliminate financial barriers to higher education for students of color, promoting educational attainment and economic independence. The program will include career preparation and mentorship, further enhancing the students' opportunities post-graduation. The program reflects Morgan Stanley's commitment to diversity and community support.

Positive

• Launch of HBCU Scholars Program to support five Morehouse students with full scholarships.
• Program aims to eliminate financial barriers, promoting educational attainment and economic independence.
• Includes career preparation and mentorship for students to enhance post-graduate opportunities.

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• None.

Morgan Stanley and Morehouse College today announced the first cohort of Morehouse students selected to participate in Morgan Stanley’s inaugural HBCU Scholars Program, an integrated initiative to support students at three Historically Black Colleges and Universities (HBCU). Five outstanding first-year students have been selected to receive the four-year scholarships to Morehouse, which will cover tuition and room and board in order to fully remove financial barriers to higher education.

The goal of the HBCU Scholars Program is to put students on a path to educational attainment and financial independence by lifting the costs of higher education. In addition, Morgan Stanley is introducing programming aimed at preparing scholars for their post-graduate careers, as well as related programming offered to the broader student body and faculty, including virtual and on-site components to complement the on-campus curriculum. The HBCU Scholars Program will also feature Morgan Stanley mentors and sponsors to support the scholars along their journey.

“Morgan Stanley is committed to supporting diversity, equity and inclusion in our communities to eliminate barriers that prevent people of all backgrounds and identities from having equal opportunities ‒ and the HBCU Scholars program is an integral part of that effort,” said Susan Reid, Global Head of Diversity & Inclusion at Morgan Stanley and Director of the Institute for Inclusion. “We would like to congratulate the five impressive students who will be embarking on this journey at Morehouse and look forward to witnessing their achievements in the years to come.”

From STEM scholars to outstanding student leaders, the first five rising men of Morehouse chosen as inaugural Morgan Stanley HBCU Scholars possess impressive resumes that include academic achievements, community service projects and awards, career study programs and support for social justice issues. Morehouse is dedicated to the education and development of men who are focused on academic excellence, leadership and service. The College of more than 2,200 students has a nationally-acclaimed business program that is recognized for preparing men of color for managerial and executive leadership roles.

“Removing the financial barrier to college attendance is paramount to improving economic opportunities for people of color, especially Black families who are at the bottom of the nation’s household income scale and have a higher burden of student loan debt than other racial groups,” said Monique Dozier, Vice President of Institutional Advancement at Morehouse College. “Thanks to the generosity of Morgan Stanley, the Morgan Stanley Scholars will have the peace of mind necessary to excel in their studies without having to worry about running out of money for tuition before they complete their degrees. They will be able to pursue their dreams and build wealth faster because they will not be tethered to student loan debt. That independence will be a game-changer for them as they consider graduate studies, job offers, or becoming entrepreneurs after graduation. I would like to thank Morgan Stanley for giving our students the gift of financial freedom.”

The HBCU Scholars initiative was developed by Morgan Stanley’s newly established Institute for Inclusion and is a part of the Firm’s larger mission to create an integrated, holistic and transparent diversity and inclusion strategy, both internally and externally.

The program will begin in the Fall 2021 semester. The 2025 class of Spelman College scholars was announced earlier in April and the Howard University scholars will be announced in the coming weeks.

Morehouse College Class of 2025 Morgan Stanley HBCU Scholars:

Richard A. Chandler
Louisville, KY

Xavier D. Foster
Jonesboro, GA

Amari D. W. Knighten
Gretna, LA

Coriss T. Redmond
Chicago, IL

Damonte D. Rush
Philadelphia, PA

To learn more about the participating HBCUs, please visit Spelman College, Howard University and Morehouse College.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment 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.

About Morehouse College

Morehouse College is the only historically Black college dedicated to educating men. Founded in 1867, Morehouse is a private, liberal arts institution and the nation's top producer of Black men who go on to receive doctorates. The College is the top producer of Rhodes Scholars among HBCUs and was named to the list of U.S. institutions that produced the most Fulbright Scholars in 2019-2020. As the epicenter for thought leadership on civil rights, Morehouse is committed to helping the nation address the inequities caused by institutional racism, which has created social and economic disparities for people of African descent. Prominent Morehouse alumni include: Martin Luther King Jr., Nobel Peace Prize Laureate; Dr. David Satcher, former U.S. Surgeon General; Shelton "Spike" Lee, Academy Award-winning American filmmaker; Maynard H. Jackson, the first African American mayor of Atlanta; Jeh Johnson, former U.S. Secretary of Homeland Security; Louis W. Sullivan, former U.S. Secretary of Health and Human Services; Bakari Sellers, attorney and CNN political analyst; Randall Woodfin, elected as the youngest mayor of Birmingham in 120 years; and the Honorable Raphael Warnock, Georgia’s first Black U.S. senator. For more information, visit: https://morehouse.edu.

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FAQ

What is the HBCU Scholars Program by Morgan Stanley?

The HBCU Scholars Program is an initiative by Morgan Stanley to provide scholarships to students at historically Black colleges and universities, specifically offering financial support to help eliminate barriers to education.

Which students are involved in Morgan Stanley's HBCU Scholars Program?

The first cohort includes five students from Morehouse College who are awarded four-year scholarships covering their tuition and room and board.

When does the Morgan Stanley HBCU Scholars Program begin?

The program is set to begin in the Fall 2021 semester.

How does the HBCU Scholars Program support students' careers?

The program offers career preparation and mentorship, equipping students with skills and guidance for their post-graduate careers.

What are the benefits of the HBCU Scholars Program for Black families?

The program removes financial burdens associated with tuition, allowing Black families to pursue higher education without the worries of student loan debt, fostering economic independence.