Historically Black Colleges and University (HBCU) students make the world go round!

According to a press release, JPMorgan Chase & Co has partnered with the United Negro College Fund (UNCF) to create the J.P. Morgan Chase Wealth Management HBCU Scholarship.

The move is intended to provide support for the Black community by providing them with the resources to achieve business, career, educational and personal financial success.

“Systemic racism is a tragic part of America’s history,” said Jamie Dimon, the banking giant’s chairman, and CEO 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.”

Available to students who will be full-time college sophomores in the Fall 2021 semester, the scholarship opportunity is for students who are interested in the financial planning profession and attending one of the following HBCUs: Alabama A&M University, Central State University, Clark Atlanta University, Delaware State University, Howard University, North Carolina A&T State University, Paul Quinn College, Praire View A&M University, South Carolina State University, Tennessee State University, or Winston-Salem State University.

According to the company’s website, recipients of the scholarship will receive a one-time $2,000 merit-based scholarship for the 2021-2022 academic school year.

Selected students will have the opportunity to apply to participate in two JPMorgan Chase & Co. internship programs.

The programs are held in the summer between students’ sophomore-junior year and the second between their junior-senior year.

Once they complete the internship program, students will receive a $5,000 scholarship which will be applied to their senior year.

A total of 75 scholarships will be awarded and is a part of JPMorgan Chase’s commitment of $30 billion over the course of the next five years in order to focus on providing economic opportunities for the Black and Latinx communities.

For more information on how to apply click here.