OSU Receives $2.5M Gift From JPMorgan Chase to Support Students of Color - Higher Education
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OSU Receives $2.5M Gift From JPMorgan Chase to Support Students of Color

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JPMorgan Chase has announced that it will continue it’s over five decade’s long relationship with The Ohio State University (OSU) with a $2.5 million investment in two Ohio State programs that support academic success for students of color.

“The Ohio State University is one of the largest sources of talent for our firm, not just here in Columbus, but around the world,” Corrine Burger, Columbus location leader and chief control officer for JPMorgan Chase’s Consumer and Community Bank and Asset and Wealth Management said in the announcement. “We’re proud of the relationship we’ve established with Ohio State and are confident that these new programs will help bring an even more diverse set of talent into the workforce.”

JPMorgan Chase’s gift will go towards to the Morrill Scholarship Program (MSP) and the Young Scholars Program (YSP), which were both created and run by OSU’s Office of Diversity and Inclusion (ODI).

The Morrill Scholarship rewards driven and academically successful incoming freshman students who are actively involved in diversity-focused leadership, service and social justice activities. The Young Scholars Program supports talented, first-generation incoming freshman college students who need financial assistance in order to accomplish their goals of attending and completing college, said OSU officials.

Jamie Dimon, chairman and CEO of JPMorgan Chase with Dr. James L. Moore III

“Too many young people, particularly those from disadvantaged backgrounds, lack access to the right skills and education they need to get ahead,” Burger said. “This investment is laser-focused on providing financial support and services to students from diverse backgrounds and pathways to good jobs. We’re excited to work with Ohio State to create opportunities for these students to have a bright and successful future.”

Founded in 1970 with a mission to construct the university into a model of inclusive academic excellence, ODI is one of the nation’s oldest diversity and inclusion office in the higher ed space.

“The JP Morgan Chase gift is the largest gift ever received by ODI. In my opinion, the gift will give it the needed resources to further enhance the college experience for undergraduate scholars in its Morrill Scholarship Program and Young Scholars Program,” said Dr. James L. Moore III, vice provost for diversity and inclusion and chief diversity officer at OSU.

Dr. Michael V. Drake, president of OSU, agreed saying that this gift will change the lives of students.

“This partnership between our institutions will create exceptional opportunities for our students both academically and professionally, and positively impact our shared Columbus community for many years to come,” Drake said.

As a result of the investment, JPMorgan Chase leaders will act as guest speakers in classes, volunteer in Columbus community activities and mentor and coach MSP and YSP scholars. In addition, JPMorgan Chase will also hold events for students at their company locations.

Companies like JP Morgan Chase are increasingly looking for diverse talent, Moore said.

“I believe that the JP Morgan Chase and ODI partnership could be a model for other companies and universities,” Moore added.

Monica Levitan can be reached at mlevitan@diverseeducation.com. You can follow her on Twitter @monlevy_.

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