Milken Institute Expands Fellowship Program for HBCU Students
Milken Institute opens applications for 2025 HBCU Fellowship cohort
The Milken Institute has opened applications for the 2025 cohort of its expanded Historically Black Colleges and Universities (HBCU) Fellowship. The fellowship supports underrepresented talent and strengthens the bridge between HBCU campuses and the asset management industry—so students can see the field up close and step into it with confidence.
A practical, accelerated path into finance
Over an intensive eight-week academic curriculum paired with a summer practicum, fellows build the core skills needed for roles in asset management. The program is designed for students preparing to enter their sophomore year at HBCUs and offers structured, high-quality professional development. Along the way, participants receive tailored mentorship and join curated networking sessions with industry leaders—support that helps them grow personally and professionally.
Mentorship and networking that meet you where you are
Fellows gain access to Milken Institute conferences and a range of public and private events. That exposure does more than fill a calendar; it builds confidence and opens doors to conversations with influential professionals across finance, giving students a clearer view of potential career paths.
Deepening a long-term commitment to diversity
The Milken Institute recently celebrated the successful completion of its second cohort. Building on that momentum, the fellowship is moving from a one-year model to a longer-term structure with ongoing mentorship. Fellows now participate in two years of summer practicums, creating a direct runway to potential full-time roles in the asset management sector.
Backed by industry leadership
Troy Duffie, the director of financial markets at the Milken Institute, emphasized the importance of this initiative, stating, "The early success of the HBCU program illustrates our dedication to enhancing diversity within the financial services sector. Our aim is to create a more inclusive business environment that motivates students to pursue and retain roles in finance."
HBCUs have a long record of graduating prominent figures who shape financial services, and they remain a vital source of high-caliber talent. Even so, lack of diversity in asset management persists, with women- and diverse-owned firms managing only a small share of the sector’s vast assets. The fellowship is one concrete step toward addressing that gap.
Where the fellowship stands today
Launched in early 2023, the fellowship is a key part of the Milken Institute’s work to build a more diverse and inclusive asset management workforce. The second cohort included 20 students from HBCUs, following an inaugural class of 16 students—steady growth that reflects the program’s impact and the demand for these opportunities.
With continued investment in skills-building and relationship-building, the fellowship gives participants the tools, practice, and connections to become future leaders in finance.
Learn more
If you’re interested in the HBCU Fellowship, you can find program details and application information on the Milken Institute’s website. The initiative continues to strengthen the talent pipeline and promote meaningful, lasting change across the financial sector.
About the Milken Institute
The Milken Institute is a nonprofit, nonpartisan think tank focused on measurable progress that improves quality of life. Its work spans financial, physical, mental, and environmental health, with an emphasis on practical solutions to today’s challenges and preparation for the ones ahead. More information about its programs and resources is available on the Institute’s official website.
Frequently Asked Questions
What is the HBCU Fellowship, in plain terms?
It’s a Milken Institute program that helps underrepresented students from HBCUs prepare for careers in asset management through an eight-week academic curriculum, a summer practicum, mentorship, and targeted professional development.
How long does the fellowship run?
The program now spans multiple years, with ongoing mentorship and two years of summer practicums to support learning, growth, and potential pathways to full-time roles.
Who’s eligible to apply?
Students at HBCUs who are preparing to enter their sophomore year are the intended applicants for the fellowship.
What do fellows gain from participating?
Fellows receive tailored mentorship, access to Milken Institute conferences and events, exclusive networking with industry leaders, and a structured route toward potential job opportunities in asset management.
How do I apply for the HBCU Fellowship?
Applications are available through the Milken Institute’s official website during the stated application window for the 2025 cohort.
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