Morgan Stanley HBCU Scholars Program: Opportunities and Requirements

The Morgan Stanley HBCU Scholars Program, launched in 2020 through Morgan Stanley’s Institute for Inclusion, offers full scholarships to qualified students attending Howard University, Morehouse College, and Spelman College. The program began by providing five academic and needs-based four-year scholarships at each institution, with the goal of adding a new class of scholars each year for a class size of 60 by 2024. This initiative aims to support Historically Black Colleges and Universities (HBCU) strategically and engage with them.

Overview of the Morgan Stanley HBCU Scholars Program

Morgan Stanley's HBCU Scholars Program is an integrated program designed to strategically engage with and support Historically Black Colleges and Universities (HBCUs). The program supports scholarships for students at Howard University, Morehouse College, and Spelman College. The goal is to set scholars up on a path to educational attainment and financial independence by lifting the barrier of higher education costs.

The program reflects Morgan Stanley's intention to invest in communities of color and support the career aspirations of Black students, consistent with one of their core values: Commit to Diversity and Inclusion. The scholarships are academic and needs-based four-year scholarships provided at each institution.

Importance of HBCUs

HBCUs were established before the civil rights movement to serve the African-American community. Attending an HBCU can be a transformative experience. These institutions offer a unique environment where students feel empowered to conquer the world.

Many HBCU alumni remain connected to their alma maters throughout their careers. This connection provides greater exposure to students who may not be aware of opportunities in various industries, including the financial sector. HBCUs offer a unique experience with small class sizes, teachers who are invested in every student, and a powerful alumni network.

Eligibility and Requirements

The Morgan Stanley HBCU Scholars Program is open to students attending Howard University, Morehouse College, and Spelman College. Eligible students will be invited to apply through their schools.

General Scholarship Opportunities for HBCU Students

High school students considering enrolling at an HBCU and current minority students attending an HBCU have unique scholarship opportunities to help them pay for school.

Additional Scholarship Programs

Several other scholarship programs are available to students attending HBCUs or planning to attend HBCUs. These include:

The Wade Scholarship Program: Open to African-American graduate students with a bachelor's degree in a STEM discipline. Applicants must be accepted into an engineering master’s degree program at one of the top 30 graduate schools of Engineering in the United States or an HBCU with a graduate engineering program.
The Future is Yours Scholarship: Available to students who attend high schools in the greater Sacramento area.
The FOSSI Scholarship: Available to graduating high school seniors planning to attend an HBCU. Applicants must be U.S. citizens or permanent residents, have a minimum GPA of 3.0, and be pursuing studies in chemical manufacturing, engineering, environmental health and sustainability, or other related chemical-industry fields.
HBCU Battle of the Brains: Open to business and STEM students from Historically Black Colleges and Universities.
The Cavaliers HBCU Scholarship Program: Open to high school seniors in Northeast Ohio who are planning to attend an HBCU.
The USDA 1890 National Scholars Program: Open to students studying agriculture, food, natural resource sciences, or other related academic disciplines at the nineteen 1890 Historically Black Land-Grant Institutions.
The Hoffman Agency HBCU Scholarship: Available to students currently enrolled at a California community college.
The ETS Presidential Scholarship for HBCU Students: Available to full-time junior and senior students attending Historically Black Colleges and Universities.
The Evolve502 Scholarship: Available to entering college freshmen who are Kentucky residents.
The Annie Ibok Scholarship: Available to rising college freshmen who are attending HBCUs. Applicants must be residents of Washington State or California and have a minimum 3.0 GPA.
The UNCF General Scholarship: Available to full-time undergraduate and graduate students attending a UNCF member college or university. Applicants must have a minimum 2.5 GPA.
The AOTF District of Columbia Scholarship: Available to students at Howard University and/or Trinity Washington University. Applicants must be enrolled in the occupational therapy or occupational therapy assistant program and be a resident of Washington D.C.
The San Diego HBCU Scholarship: Available to high school seniors.
The Descendants Truth and Reconciliation Foundation Scholarship: Available to undergraduate and graduate HBCU students who are certified descendants of Jesuit slaveholding within the Catholic Church in the United States.
The Marki Lemons Ryhal Education Advancement Scholarship: Available to African-American female students residing in underserved communities within the Chicagoland area.

Internship Opportunities

The HBCU Pathways Program Internship: Available to college juniors and seniors who are passionate about the sports, entertainment, and hospitality industries. Applicants must have a minimum 2.75 GPA. Internships are offered in brand communications, digital marketing, event operations, global partnership, analytics, retail, and ticket sales. Interns will participate in a 10-week program in Atlanta, GA, gaining valuable hands-on experience and insight into the industry.

How to Apply

Students interested in the Morgan Stanley HBCU Scholars Program should contact the financial aid or scholarship offices at Howard University, Morehouse College, or Spelman College for specific application details and deadlines. For other scholarships, refer to the specific requirements of each scholarship.

General Tips for Scholarship Applications

FAFSA: Start with the FAFSA to unlock federal, state, and school-based aid. The FAFSA is the entry ticket to federal grants, work-study, and many scholarships. File the FAFSA annually, keeping in mind that many states and schools set earlier priority dates.
Align Applications: Apply for scholarships aligned with your background, major, and pathway.
Apply Across Sizes: Smaller awards ($500-$3,000) often have fewer applicants and can cover books, lab fees, or housing deposits; they stack with bigger awards.

Additional Resources

GreenPath is a non-profit credit counseling organization that offers guidance and support to individuals seeking to manage and overcome financial challenges through education, financial counseling, and debt management programs.

Morgan Stanley's Commitment to HBCUs

Morgan Stanley is dedicated to supporting HBCUs and their students. The Morgan Stanley HBCU Scholars Program is a testament to this commitment.

Voices from Morgan Stanley

Alita Wingfield, Leon Henderson, Jr., and Nii Dodoo are colleagues at Morgan Stanley who are deeply connected to HBCUs. Wingfield attended Spelman College and Howard University Law School. Henderson holds a degree in architecture from Howard University and an MBA from Harvard Business School. All three serve on a group that oversees the Morgan Stanley HBCU Scholars Program.

Wingfield notes that the financial sector could use more bright and talented Black graduates, like the ones who will be part of the Morgan Stanley HBCU Scholar program. She, Henderson, and Dodoo also welcome the chance to support the schools themselves, which they believe offer Black students a unique experience.

Dodoo joined the HBCU Ambassador team and interviewed students for the program’s latest cohort. He hopes to continue to make a difference as the program expands. Wingfield says she will be on the HBCU working group as long as she is at Morgan Stanley, constantly thinking about how to engage these students and how to make the program even bigger and better. Dodoo hopes to one day welcome some of those students to Morgan Stanley.

Quotes from HBCU Presidents

Dr. Wayne A. I. Frederick, President, Howard University: "Reducing the financial burden for black students to receive an education is a proven method to enhance their job prospects and economic opportunities. We are most appreciative to Morgan Stanley for supporting our students."
David A. Thomas, President, Morehouse College: "The Morgan Stanley HBCU Scholars program will make college a reality for students in families who could not otherwise afford a higher education."
Mary Schmidt Campbell, Ph.D., President, Spelman College: "The most significant challenge many of our brilliant Spelman students face is the financial barrier to college completion. Through academic research, innovations and advocacy, our students are already working to advance solutions to some of the world’s most difficult issues."

Read also: Cracking the JP Morgan Internship

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