Morgan Stanley Launches Multi-Year Program Supporting College Students from Underserved Communities
Posted By: Kennedy Williams on May 20, 2022 |
The Morgan Stanley Institute for Inclusion’s (IFI) Equity in Education and Career Consortium, focused on supporting high school and college students in achieving stronger career and financial outcomes, today announced the launch of a multi-year program in partnership with the Morgan Stanley Foundation to support Community College students from low- to moderate-income communities with an investment of $5.5MM to College Possible and CUNY ASAP (Accelerated Study in Associate Programs). This new commitment is part of the $20MM announced last December to help address systemic inequities in education and career outcomes for young adults from low- to moderate-income students.
The multi-year investment will help:
Support organizations with a primary focus on eliminating barriers to degree completion for community college students through extensive and integrated wrap-around services
Expand and replicate CUNY ASAP’s preeminent degree completion model across community college systems nationwide and strengthen career training programs for its 25,000 students
Scale College Possible’s “high tech – high touch” program, to reach 6,000 students over time and build a more robust community college offering
“We are proud to support the growth and reach of College Possible and CUNY ASAP, two proven programs that drive greater access to education and social mobility among community college students,” said Susan Reid, Global Head of Diversity and Inclusion, Morgan Stanley, and Director of the Morgan Stanley Institute for Inclusion. “This investment helps address social inequities and creates greater pathways for long-term career and financial success.”
The objectives of the Equity in Education and Career Consortium focus on awareness, access and advancement.
The consortium works to expose students to career paths and opportunities that may not be visible in their communities; broaden students’ skills and networks through training, mentorship and coaching; and create a support system for students throughout their educational and career journeys.
“For the past 15 years, CUNY ASAP has grown into a nationally recognized model for promoting student success and excellence for community college students,” said CUNY Chancellor Félix V. Matos Rodríguez. “Now with Morgan Stanley’s generous support, ASAP can enhance its career development programming, as well as further promote its national replication work so other university systems can launch their own ASAP-like programs to help their students achieve their educational dreams.”
The Equity in Education and Career Consortium convenes partner organizations with proven track records and a high standard of excellence supporting low-to-moderate income students in achieving stronger education and career outcomes. The launch partners focused on high school and early college announced last December include:
A Better Chance (ABC)
America Needs You (ANY)
“At College Possible, we recognize that a college degree is a valuable step toward economic mobility and a choice-filled life,” said Craig Robinson, CEO of College Possible. “This partnership with Morgan Stanley is an important investment as we thoughtfully evolve our evidence-based curriculum to support students on the community college and associate degree pathway.”
This effort joins the Firm’s portfolio of scholarships, including the Morgan Stanley HBCU Scholars Program and the Richard B. Fisher Scholars Program in the U.S., the Morgan Stanley Future Generation Scholars Program in the UK, and investments in the Hispanic Scholarship Fund and APIA Scholars Program, which have been benefiting diverse communities for nearly 30 years.
SOURCE Morgan Stanley
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