The Earl C. Banks Endowed Scholarship Fund offers financial opportunities for student athletes. The Fund was named in honor of the late Earl C. Banks, athletic director and head football coach of Morgan State College (now University) from 1960 to 1973. His goal was to make it possible for every athlete to complete a college education.

The Banks Scholarship is at Morgan State University, a public historically black research university in Baltimore, Maryland. It is the largest of Maryland's historically black colleges and universities. In 1867, the university, then known as the Centenary Biblical Institute, changed its name to Morgan College to honor Reverend Lyttleton Morgan, the first chairman of its board of trustees and a land donor to the college. It became a university in 1975.