- $5.5MM in grants to support organizations with a primary focus on eliminating barriers to degree completion and career readiness for Community College students through extensive and integrated wrap-around services
- Program builds on previously announced commitment of $20MM to address the education and career achievement gap for young adults from low- to moderate-income backgrounds
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:
“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.
About College Possible
As one of the largest and most successful college access and success programs in the country, since 2000 College Possible has helped put more than 81,000 students from disinvested communities on the path to economic mobility by earning a college degree. Its pioneering model matches students with a near-peer coach and an intensive curriculum designed to help students overcome the most common barriers to getting into college and completing their degree – all at no cost to students or their families. Nationwide, College Possible students are three times more likely to earn a bachelor’s degree within six years than their peers from similar backgrounds. Headquartered in Saint Paul, MN, College Possible operates: regional sites in Chicago, IL; Milwaukee, WI; Omaha, NE; Philadelphia, PA; Portland, OR; and Seattle, WA; College Forward in Austin, TX; and Catalyze partnerships in California, Iowa, Minnesota, New York, Ohio and Tennessee. Learn more at CollegePossible.org.
About CUNY Accelerated Study in Associate Programs (CUNY ASAP)
Founded in 2007, the City University of New York's ASAP is a comprehensive associate degree completion program serving 25,000 students annually at nine CUNY colleges, that provides comprehensive, personalized supports and resources to remove barriers to full-time study, support academic momentum, and build a connected community. CUNY ASAP has proven to be one of CUNY's most successful initiatives, with students in the program graduating at a rate more than double that of similar students. In 2020, the program won the prestigious Innovations in American Government Award from the Ash Center for Democratic Governance and Innovation at Harvard University's John F. Kennedy School of Government. ASAP has been rigorously evaluated and is widely viewed as the most effective associate degree completion program in the country. The program has partnered with colleges across seven states (OH, CA, NY, TN, WV, NC, PA) to support ASAP model replication. To learn more visit https://cuny.edu.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
About the Morgan Stanley Institute for Inclusion
The Morgan Stanley Institute for Inclusion, together with our overall commitment to Diversity and Inclusion, brings our employees, communities and clients together in a shared commitment to creating a more equitable society. The Institute for Inclusion aims to catalyze and accelerate an integrated and transparent diversity, equity, and inclusion strategy to deliver the full potential of Morgan Stanley and drive meaningful change within the Firm and beyond. For further information about the Institute for Inclusion, please visit https://www.morganstanley.com/about-us/diversity/institute-for-inclusion.