Morehouse College, Spelman College and Howard University will all share in a $12 million gift from the investment banking firm Morgan Stanley. Through the gift, 60 students from the three participating HBCUs (historically Black colleges and universities) will receive full scholarships for any field of study, as part of the new Morgan Stanley HBCU Scholars program.
“The Morgan Stanley HBCU Scholars program will make college a reality for students in families who could not otherwise afford a higher education,” said Dr. David A. Thomas, president of Morehouse College, in a Morehouse press release. “The gift will not only improve the lives of scholarship recipients; it will also lead to positive changes for communities of color.”
The academic and needs-based scholarship program, set to begin in fall 2021, will also offer online career preparation and training opportunities with the firm.