Morgan Stanley has announced the launch of a five-year, $20 million initiative to advance equity in education and career outcomes for young adults from underrepresented groups.

In collaboration with partner organizations, the Equity in Education and Career Consortium aims to address systemic inequities in education and career outcomes for high school and college students from low-to-moderate income backgrounds with a focus on ethnically diverse students. The initial group of partner organizations includes: A Better Chance (ABC), America Needs You (ANY), Braven, the Hispanic Federation, iMentor, and SEO. The consortium aims to create a support system for students, expose them to career paths and opportunities that may not be visible in their communities, and broaden their skills and networks through training, mentorship, and coaching.

“We are investing in solutions that drive greater access to education and social mobility more broadly and have meaningful impact on communities,” said Susan Reid, global head of diversity and inclusion, Morgan Stanley, and director of the Morgan Stanley Institute for Inclusion. “We believe this investment will help address racial inequities and drive stronger financial outcomes in the long run for these students and their families.”