The American College of Financial Services will award 15 scholarships dedicated to students from historically Black colleges and universities (HBCUs) to help increase diversity and representation in the financial services profession, it announced this week at the virtual Conference of African American Financial Professionals.
“One of the biggest problems facing the financial services profession is a profound lack of diversity,” the college said in a statement. “Around 13% of the U.S. population is African American, yet among financial services practitioners, just under eight percent are of African ancestry. The College believes the financial services profession must make a concerted effort to recruit, educate, place, and support thousands more Black financial advisors.”
Students who have completed their sophomore year and are enrolled at any four-year, Bachelor’s degree-granting HBCU are eligible to apply for the scholarship.
“The financial services industry must catch up so our profession looks more like the nation it serves,” said George Nichols III, president and CEO of the college. “In order to help close this racial gap, The College has committed to awarding at least 25 African American scholarships with 15 dedicated to students from historically Black colleges and universities. HBCUs have played a key role in the fight for racial equality and are stewards of Black intellectual thought leaders and professionals.”