The program awards students from underrepresented backgrounds $10,000 and one-on-one mentorship to support real estate education
Today, BWE, the national commercial and multifamily mortgage banking company, announced the opening of applications for BWE Foundation scholarship program, a cutting-edge initiative that provides students interested in commercial real estate from underrepresented backgrounds with a $10,000 scholarship, a paid internship with BWE, one-on-one mentorship from BWE executives, and informational seminars with industry leaders to help them kickstart their careers in commercial real estate finance.
Established in 2021, the BWE Scholarship program seeks to address a lack of diversity in the commercial real estate industry by supporting underrepresented groups, such as women, people of color, LGBTQ+ individuals, and first-generation college students, as they explore the field and continue their education. According to a 2023 Special Report from Bisnow, people of color make up just 12.8% of the C-suites at the industry’s largest firms, while women make up just 26.2%. By providing comprehensive support to students from these communities, BWE aims to create pathways to success and build a more inclusive commercial real estate industry.
“BWE has always had a commitment to supporting the next generation of commercial real estate leaders, and through the BWE Scholarship program, we have found a way to both teach up-and-coming real estate professionals the skills they’ll need to succeed while also creating a more inclusive and diverse industry,” said Ilya Weinstein, a BWE senior vice president and president of the BWE Foundation. “I’ve had the pleasure of mentoring many scholarship recipients, and having seen their passion for the work and growth over the course of the program, I know our industry is in very good hands.”
As part of the scholarship program, recipients receive mentorship from executives across BWE, who guide students as they learn more about the mortgage banking industry and provide advice on how to successfully enter the real estate field. Students also have the opportunity to participate in professional development seminars with BWE’s team of industry experts on topics including loan production, affordable housing, servicing/asset management, and loan underwriting. Since the program’s founding, 26 students from 13 colleges and universities, including prestigious institutions like Howard University, Cornell University, the University of Texas, and the University of Southern California, have participated in the program, and the vast majority of those who have graduated have gone on to careers in the real estate industry, including two recipients who are now full-time employees at BWE.
“Growing up, I always thought that I wanted to go into real estate, but I didn’t know much about mortgage banking or the financial side of the industry. When I learned about the BWE Scholarship program, it gave me an opportunity to explore that side of the field and helped me realize that real estate finance was a career that I could achieve,” said Bella Barrios, a BWE Scholarship recipient who now works as an analyst at the firm. “The scholarship transcends just being financial support – the mentorship and guidance I received from BWE’s leadership was absolutely priceless.”
“The commercial real estate industry has a major impact on the lives of every American, so it is critical that Americans from a diversity of backgrounds are represented in the field,” said Ben Weil, director of the BWE Scholarship program. “Through the BWE Scholarship program, we can help driven young people who want to learn more about the world of commercial real estate gain the skills and direction they need to have long-term success in the field and help transform the industry into one that truly represents the country that it helps shape every day.”
To apply for the BWE scholarship, students should be juniors and must submit an application form, letter of recommendation, essay, and a resume. To apply to the scholarship, please visit bwefoundation.org. Applications are due January 31.