J.P. Morgan, UNCF Launch Scholarship Program for HBCU Students
Career Education

 J.P. Morgan, UNCF Launch Scholarship Program for HBCU Students

student loan debt, JP Morgan, scholarships, UNCF
(Image: iStock/YinYang)

The United Negro College Fund (UNCF) has partnered with JPMorgan Chase to provide the J.P. Morgan Chase Wealth Management HBCU Scholarship for students interested in the financial planning field.

Seventy-five scholarships will be awarded to students who will be college sophomores in the Fall 2021 semester attending specific HBCUs full-time, including Howard University, Tennessee State, and Winston-Salem State University.

The press release also said that successful applicants would receive a one-time $2,000 merit-based scholarship for the 2021-2022 school year. Additionally, a portion of selected students gets a chance to participate in two JPMorgan Chase & Co internship programs which offer an additional scholarship upon completion.

JPMorgan Chase has committed to a $30 billion investment over the course of the next five years to focus on providing economic opportunity in the Black and Latinx communities.

“Systemic racism is a tragic part of America’s history,” Jamie Dimon, the banking giant’s chairman and CEO, said in a press release. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people. It’s long past time that society addresses racial inequities in a more tangible, meaningful way.”

Pursuing occupations where African Americans may be underrepresented could be a major key to increasing financial security. Georgetown University’s Center on Education and the Workforce found that although African Americans are attending college at higher rates, degreed African Americans are still in college majors and occupations, such as STEM, health, and business. The report identified these areas as some of the highest-paying jobs with growth.

The deadline to apply for the J.P. Morgan Chase Wealth Management HBCU Scholarship is June 24.