Ohio State announced a $2.5 million investment from JP Morgan Chase into two programs that “promote academic excellence for students from diverse backgrounds” in a press release on Thursday.
“Too many young people, particularly those from disadvantaged backgrounds, lack access to the right skills and education they need to get ahead,” Corrine Burger, Chief Control Officer, Consumer and Community Banking for JP Morgan Chase in Columbus, said in the press release. “We’re excited to work with Ohio State to create opportunities for these students to have a bright and successful future.”
The investment will specifically be used to support the Morrill Scholars Program and the Young Scholars Program, two programs at Ohio State aimed to support students from diverse and disadvantaged backgrounds.
The Morrill Scholars Program identifies and supports “academically talented students who are actively engaged in diversity-based leadership.”
In a similar vein, the Young Scholars Program supports “academically talented, first-generation college students with financial need,” who have completed a rigorous high school curriculum with high academic achievement.
“JPMorgan Chase’s support of the Morrill Scholars and Young Scholars programs will change lives,” Michael V. Drake, president of The Ohio State University, said in the press release. “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.”
This investment will continue a longstanding relationship between the two institutions which stretches more than 50 years and has included support for a variety of programs.
In addition to the monetary investment, leaders from JP Morgan Chase will serve as guest speakers in Ohio State classes, mentor and coach the scholars, and participate in their community activities as volunteers.
James L. Moore III, Ohio State’s vice provost for diversity and inclusion and chief diversity officer in the Office Diversity and Inclusion, said that companies like JP Morgan Chase understand the importance of these types of programs.
“Between these two scholarship programs, ODI serves nearly 2,000 collegiate and 700 pre-collegiate students from all walks of life,” he said. “JPMorgan Chase’s gift will allow ODI to build on and, in some cases, expand its efforts in providing greater support to students, as well as extend more opportunities to enhance their academic profiles and future career competitiveness.”