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Aiming to help students, including Black Americans, with career and entrepreneurial pursuits, JPMorgan Chase is providing $350,000 in resources to help make that happen. The nation’s largest bank has formed a new partnership with Roc Nation School of Music, Sports & Entertainment at Long Island University (LIU).
Called the school’s first-ever financial health course for the 2023-24 academic year, the alliance aims to aid 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 reportedly united with Brooklyn’s Long Island University to launch the school. Degree programs at the school prepare students for careers in performance, entrepreneurship, music, sports business, and management, per its website.
The partnership means JPMorgan Chase will invest $115,000 for scholarships and the rest for technical assistance to the school and financial coaching for the students. The funding will pay a one-year tuition of $7,500 per student, with about 15 students expected to get scholarships.
Based on a news release, the bank’s investment will contribute to the School’s Hope Scholarship program, which annually provides a tuition-free education for 25% of incoming students.
The three-credit, 16-week course at LIU’s Brooklyn campus will include workshops on credit building, homebuying, and fraud/scam prevention. It will feature celebrity guest speakers, including UCLA football standout Chase Griffin, New York Giants legend Victor Cruz, and JPMorgan Chase executives. They will share their insights and advice for academic, career, and personal success.
“At JPMorgan Chase, we’re proud to partner with LIU’s Roc Nation School, breaking down financial barriers for college students in Brooklyn, stated Diedra Porché, managing director, and head of Community Banking and Development at Chase.
“Together, we’re providing the essential resources and support our future leaders need to shape their career and financial futures.”
With the grant, the Roc Nation School will get technical aid from the National Council for Workforce Education (NCWE) to ensure a sustainable program built to help students establish healthy financial behaviors.
Roc Nation CEO Desiree Perez added it’s absolutely vital that we equip our students with a versatile array of tools and resources to thrive both inside and outside the classroom.
She shared, “With the addition of JPMorgan Chase’s financial health course, students will be poised to make stronger and more informed financial decisions in a way that can profoundly shape the trajectory of their lives and careers.”
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