Texas Tech is one of seven university partners receiving a share of $3.5 million.
Ensuring greater diversity and inclusion has been one of Texas Tech University's major priorities over the last several years, and now, a $500,000 gift from the Charles Schwab Foundation is helping to advance that goal.
The School of Personal Financial Planning and the Charles Schwab Foundation announced today (Feb. 22) the creation of the Charles Schwab Foundation Scholars in Financial Planning Scholarship. The scholarship, aimed at inspiring a future career in finance, will provide students in underrepresented populations a $10,000-per-academic-year scholarship.
"This generous scholarship will allow the students to complete their degree in financial planning with less financial stress and provide amazing internship and career opportunities," said Vickie Hampton, chair of the School of Personal Financial Planning. "It is a big step in building a more diverse population of financial planning professionals across the nation."
Preference will be given to students who are members of a group underrepresented in the population of students in the School of Financial Planning at Texas Tech and/or a group underrepresented in the field of financial planning, including Black or African American students. A secondary preference shall be given to those students with demonstrated financial need. Scholarship recipients shall be in good academic standing with a minimum 2.8 GPA.
The Schwab Scholars in Financial Planning Scholarship is automatically renewable for an additional $10,000 in the subsequent academic year if the recipient remains eligible for the scholarship. Recipients of the two-year scholarship also will receive the opportunity to interview for a paid internship at Schwab. The majority of Schwab's paid interns go on to a full-time position within Schwab.
To apply for the scholarship, students:
• must be a full-time, personal financial planning major,
• must be in good academic standing,
• must be within two years (4 semesters) of degree completion, and
• must represent an underrepresented population.