JPMorgan Chase Expands Economic Opportunity Initiative for Young Men of Color in Chicago, Dallas, Los Angeles and New York
The Fellowship Initiative offers comprehensive support to high school students to help them achieve education and career success.
JPMorgan Chase & Co. today announced that The Fellowship Initiative (TFI) will expand to Dallas, Texas in 2017 and will recruit new classes of Fellows in Chicago, Los Angeles and New York. TFI helps create economic opportunity for young men of color by engaging them in a comprehensive, hands-on enrichment program that includes academic support, college access and persistence services, leadership development and mentoring at a critical juncture in their lives. This initiative is part of the firm’s broader, ongoing efforts to provide adults and young people with the education, skills and resources that contribute to greater economic mobility.
“It’s a national emergency that high school graduation rates for young men of color are dangerously low and so many who do graduate lack the skills they need to be successful in college or their careers,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co. “The path to a successful future begins at a young age, and The Fellowship Initiative has proven that the right combination of intensive academic, mentoring and leadership training, can help them get ahead – and that success can help drive entire communities forward, too.”
This year, 117 students completed The Fellowship Initiative in Chicago, Los Angeles and New York City and, 100 percent of those students are graduating from high school. Combined, they have been accepted into over 200 colleges and universities across the country.
JPMorgan Chase launched the TFI pilot in New York in 2010 to explore whether a combination of intensive academic and leadership training could improve high school graduation and college access rates for young men of color. The pilot demonstrated that an intensive, three year program with a holistic approach could contribute to promising outcomes for young men of color.
The Fellows who completed the programs reported elevated academic goals, career aspirations and life-changing personal growth. They also graduated from high school on-time, gained admission to a college program and, collectively, received scholarships and grants totaling $8.4 million. More than half were the first in their family to attend college.
The Fellowship Initiative in Chicago, Dallas, Los Angeles, New York City will include:
- Academic training and project-based learning throughout the school year and summer;
- Leadership and entrepreneurship training;
- One-on-one mentorship with JPMorgan Chase employees;
- College tours and college preparation workshops;
- SAT/ACT prep coursework; and
- Team-building events.
The Fellows receive support services and coaching through college, as well as opportunities for summer internships at JPMorgan Chase. To date, more than 200 JPMorgan Chase employees have worked with TFI Fellows as Mentors, coaches, role models, speakers, or volunteers in various capacities.
Recruitment for the Class of 2020 of approximately 200 students began in May. Students who are enrolled in the program will begin program activities this summer.
Through several targeted philanthropic initiatives, the firm is investing over $350 million in skills development around the world. New Skills for Youth is a $75 million, five-year effort to address the youth unemployment crisis by increasing dramatically the number of young people who complete career pathways that begin in high school and end with postsecondary degrees or credentials aligned with good-paying, high-demand jobs. New Skills at Work is a five-year, $250 million global initiative to help inform and accelerate efforts to address the mismatch between the needs of employers and the skills of job seekers. An additional $5.8 million effort to support summer youth employment programs around the country.
Notable Statements of Support for The Fellowship Initiative From Mayors
“I am pleased that JPMorgan Chase has chosen to expand its Fellowship Initiative to make a real difference in the lives of Dallas’ youth,” said Dallas Mayor Mike Rawlings. “There’s no doubt that we can do more when we work together and this powerful mentorship and fellowship program is a sensible solution to one of the most urgent social issues in our cities today.”
“One of the greatest gifts we can give to our young people is opportunity — to learn, to lead, and to pursue their dreams,” said Los Angeles Mayor Eric Garcetti. “Those opportunities can be especially transformative in the lives of young men of color, and it's programs like JPMorgan Chase’s Fellowship Initiative which provide the academic support, leadership training, and mentorship that can put students on a pathway to career success.”
“Providing much-needed educational and career opportunities for young men of color will require an all-hands-on-deck effort. The Fellowship Initiative plays a critical role to that end.” said Congressman Hakeem Jeffries (NY-08). “I am thrilled to learn of the program’s expansion and look forward to witnessing its continued success. Jamie Dimon and all involved at JP Morgan Chase should be applauded for their commitment in this regard.”
For more information and to view a short film about The Fellowship Initiative, visit www.jpmorganchase.com/TFI.