To empower students within the Black community, investment bank JPMorgan Chase & Co. has announced a $30 million commitment to support 19 Historically Black Colleges and Universities (HBCUs).
Known as Advancing Black Pathways (ABP), the initiative will “chart clearer pathways toward economic success and empowerment” for Black students over the next five years.
Universities involved in the program include Alabama A&M, Howard, Morehouse, Tennessee State, and Clark Atlanta.
“Deepening our relationships with HBCUs is an important step to breaking down barriers and creating more access to economic opportunity for Black students,” Global Head of ABP, Byna Elliott, stated. “This commitment offers HBCUs the flexibility they need to meet the unique needs of their students and provide the next generation with access to tools and resources to get ahead.”
‘Empower a New Generation’
As part of the initiative, JPMorgan will partner with the philanthropic organization UNCF (United Negro College Fund) to provide high-quality career pathways to HBCU students after graduation.
Through this combined effort with UNCF, the firm will focus on assisting young people in successfully transitioning from post-secondary education to in-demand employment in technology, automation, and artificial intelligence.
“Helping these institutions build capacity to support more students as they successfully transition from college to in-demand jobs is critically important to building a more inclusive and equitable future,” Head of Workforce Philanthropy at JPMorgan Chase, Monique Baptiste, said. “We can help empower a new generation of leaders and create more opportunities for all.”
The latest announcement by the multinational investment bank comes months after it committed $30 billion in scholarships and mentorship programs to increase the pipeline of HBCU students entering the wealth management industry.