JP Morgan Chase and Company recently announced that they would be extending their Fellowship Initiative to four cities including Los Angeles as part of the firm’s efforts to provide adults and young people with the education, skills and resources that contribute to greater economic mobility. 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.
“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.”
The Fellows who completed the programs reported elevated academic goals, career aspirations and life-changing personal growth, according to a program spokesperson. 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.
For newcomers, The Fellowship Initiative will include:
- Academic training and project-based learning throughout the school year and summer;
- Leadership and entrepreneurship training;
- One-on-one mentorship with JP Morgan 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, said program officials.
To date, more than 200 JPMorgan Chase employees have worked with TFI Fellows as Mentors, coaches, role models, speakers, or volunteers in various capacities. 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.
“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.”
For more information about The Fellowship Initiative, visit www.jpmorganchase.com/TFI.
