With the goal of helping students, including Black Americans, pursue careers and entrepreneurship, JPMorgan Chase is committing $350,000 in resources to make this possible. The nation’s largest bank has entered into a new partnership with the Roc Nation School of Music, Sports & Entertainment at Long Island University (LIU).
The alliance partnership, billed as the school’s first financial health course for the 2023-24 school year, aims to serve nearly 150 students by helping them build strong money management skills and a solid financial future.
According to Capital Extra, rapper and business mogul Jay-Z opened the Roc Nation school in 2020. Jay Z’s entertainment company has reportedly partnered with Long Island University in Brooklyn to launch the school. According to the website, the school’s degree programs prepare students for careers in performance, entrepreneurship, music, sports business and management.
The partnership means JPMorgan Chase will invest $115,000 in scholarships and the rest in technical assistance to the school and financial coaching for students. The funding provides a one-year tuition benefit of $7,500 per student, with approximately 15 students expected to receive scholarships.
According to a press release, the bank’s investment will contribute to the school’s Hope Scholarship program, which provides tuition-free education to 25% of incoming students annually.
The 16-week, three-credit course at LIU’s Brooklyn campus includes workshops on credit building, home buying and fraud prevention. Featured guest speakers will include UCLA football standout Chase Griffin, New York Giants legend Victor Cruz and executives from JPMorgan Chase. They will share their insights and advice for academic, professional and personal success.
“At JPMorgan Chase, we are proud to partner with LIU’s Roc Nation School to reduce financial barriers for college students in Brooklyn,” said Diedra Porché, managing director and head of community banking and development at Chase.
“Together, we provide the essential resources and support our future leaders need to shape their professional and financial future.”
With the grant, Roc Nation School will receive technical support from the National Council for Workforce Education (NCWE) to ensure a sustainable program that helps students develop healthy financial behaviors.
Desiree Perez, CEO of Roc Nation, added that it is absolutely important that we equip our students with a diverse range of tools and resources so they can be successful both in and out of the classroom.
She shared, “With the addition of JPMorgan Chase’s Financial Health course, students will be equipped to make more informed and informed financial decisions that can profoundly impact the course of their lives and careers.”
Further information can be found on this website.
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