Arizona State University and the University of Arizona were named as two of the seven universities selected by Charles Schwab to receive portions of its $3.5 million endowment for scholarships aimed at promoting diversity in the financial services industry.
Underrepresented students at partnering universities can apply for approximately $10,000 per year in scholarship funds over two-year periods. These recipient students will also have access to mentoring, professional development and internship opportunities.
Carrie Schwab-Pomerantz, president of Charles Schwab Foundation and senior vice president of Charles Schwab & Co., said in a written statement that these funds will help students overcome barriers.
“We believe programs like our scholarship endowment can have a meaningful impact in people’s lives by creating educational opportunities, which can help break down barriers and open new possibilities,” she said. “Schwab was founded on the belief that our industry should be more inclusive. By providing encouragement and support to underrepresented students to consider careers in financial services, we can strengthen both our company and industry.”
Westlake,Texas-based Charles Schwab and will fund and distribute the scholarships through its Charles Schwab Foundation. Other recipient universities include Purdue University, Temple University, Texas Tech University, the University of Akron and Virginia Tech.