Bank of America Gives Morgan State University $1 Million for Jobs Initiative
$25 Million National Program Supports Programming, Re-skilling, and Upskilling for Students of Color; Includes Partnerships with Major Employers and The Aspen Institute
Baltimore, MD — Morgan State University and Bank of America today announced a new $1 million jobs initiative partnership to help students of color successfully complete the education and training necessary to enter the workforce and embark on a path to success in Maryland. This initiative builds on Bank of America’s ongoing work to address the underlying issues facing individuals and communities of color who have been disproportionately impacted by the current health crisis.
Nationally, for students of color, graduation and completion rates are particularly low – 28.8 percent for Black students and 37.1 percent for Hispanic students. Althoug h HBCUs and HSIs are a mix of public and private institutions, the ongoing challenges brought on by coronavirus have exacerbated their financial struggle as they seek to serve students from the most vulnerable communities.
“We are enthusiastic about this opportunity to collaborate with one of the world’s leading financial institutions and are appreciative of Bank of America’s commitment to aid Morgan in its mission to produce proficient, career-tracked professionals who endeavor to impact their chosen fields beyond college,” said David Wilson, president of Morgan State University. “Institutions such as Morgan, have long served as valuable pipelines to an overabundance of brilliant and highly- capable African-American talent; often untapped and underrepresented. The resources provided by Bank of America will assist in broadening that pipeline to more employers—particularly those within the financial sector.”
With the support from Bank of America, Morgan State University will enhance existing programs to meet specific skills gaps to create higher paying, family-sustaining jobs that are in demand. Bank of America will work alongside employers in Maryland to ensure these programs target specific hiring needs and create a clearly defined career pathway to future employment.