By: Peter Noelle
Vice-President Elect Kamala Harris graduated from an historically black university – Howard University in Washington, DC. Black colleges and universities have been part of the fabric of higher education in this country providing opportunities for African Americans and other minorities for nearly two centuries, nevertheless, big companies such as Morgan Stanley and others often recruit and provide opportunities to those who graduate from Ivy League, but this practice may come to an end.
As part of an ongoing effort to strengthen its commitment to diversity and inclusion, (better late than never) Morgan Stanley has launched an initiative to fund full scholarships and providing career training for students at Morehouse College, Spelman College and Howard University. The first 60 scholarships, 15 per institution, will be awarded in 2021.
The 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.
“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.”
The program will begin in the fall 2021 semester; the HBCUs will invite students who have a demonstrated history of academic excellence and promise to apply.