Morehouse College to Participate in the New Morgan Stanley HBCU Scholars Program Funded By a $12 Million Donation to HBCUsOctober 21, 2020
ATLANTA—Morehouse College will share in a $12 million gift donated by Morgan Stanley to establish the new Morgan Stanley HBCU Scholars program, an initiative that will provide full scholarships to 60 students at three participating institutions.
As a Morgan Stanley HBCU Scholars program participant, Morehouse will receive funding to award 20 new academic and needs-based scholarships to the men of Morehouse over the next four years. The awards will cover tuition and living expenses.
The first five Morgan Stanley HBCU Scholars at Morehouse will be announced during the Spring 2021 Semester. Five additional recipients will be named annually through the 2024-25 academic year.
Morgan Stanley selected Morehouse to participate in the Morgan Stanley HBCU Scholars program because the global financial services firm supports the College’s mission to develop men with disciplined minds who will lead lives of leadership and service. As the national epicenter for thought leadership on civil rights, Morehouse is committed to helping the nation address the inequities caused by institutional racism, which have created disparities in income, employment, health, housing, and educational opportunities for people of African descent.
“Morgan Stanley has a long history of supporting HBCU schools, such as Morehouse, because we believe investing in the education of Black talent is one of the best ways to invest in the next generation of leaders,” said Susan Reid, Morgan Stanley’s Global Head of Diversity and Inclusion. “Racial inequity around access to and affordability of higher education can impact Black students ability to grow generational wealth, so we are proud to support these dynamic scholars on their path towards financial independence and success.”
Morehouse is the nation’s only HBCU focused on educating men. The liberal arts college has a nationally-acclaimed business program and is the top feeder school for Black men entering Harvard Business School. The College educates 2,100 students, 60 percent of whom come from families with household incomes of $40,000 or less.
“The Morgan Stanley HBCU Scholars program will make college a reality for students in families who could not otherwise afford a higher education,” said David A. Thomas, president of Morehouse College. “The gift will not only improve the lives of scholarship recipients; it will also lead to positive changes for communities of color.
“Our guiding principles at Morehouse inspire our alumni to use their positions of influence as leaders in every sector to press for diversity in their industries, investments in communities of color, and social justice for those who are marginalized and disenfranchised,” Thomas said. “I would like to thank Morgan Stanley for their generosity and look forward to their continued partnership.”
Morgan Stanley HBCU Scholars at Morehouse College will also be invited to participate in online career preparedness and training programs with the firm. The Morgan Stanley HBCU Scholars program is part of Morgan Stanley’s larger mission to promote diversity and inclusion throughout its international ranks and community partnerships. Spelman College and Howard University were also named as Morgan Stanley HBCU Scholars participants.
Monique Dozier, Vice President of the Morehouse College Office of Institutional Advancement, said the mentoring and financial support provided by Morgan Stanley, combined with Morehouse’s world-class academic programs, will produce a steady pipeline of talented Morehouse Men who will be competitive globally for top jobs across disciplines.
“This investment in Morehouse College will help students to achieve their higher education dreams and enable them to build wealth faster after graduation because they will not have student loans to repay,” Dozier said. “I would like to thank Morgan Stanley for selecting Morehouse as a partner in the Morgan Stanley HBCU Scholars program.”
Morgan Stanley has a long history of supporting HBCU schools, such as Morehouse, because we believe investing in the education of Black talent is one of the best ways to invest in the next generation of leaders,Susan Reid, Morgan Stanley’s Global Head of Diversity and Inclusion