New Money Smart Financial Coaching Program (MSFCP) Organization Empowers College Students to Take Control of Their Financial Futures with Support from JPMorganChase
JPMorganChase has announced a $1.9 million philanthropic investment to launch MSFCP.org, a new organization expanding the Money Smart Financial Coaching Program. The initiative combines financial coaching and education into a post-secondary course aimed at reaching 1,500 students nationwide.
The program, originally developed at SUNY Westchester Community College, has shown impressive results across participating institutions:
- 35% of students saved over three months (averaging $2,016)
- 67% achieved at least one financial goal
- 27% reduced debt (averaging $2,263)
- 72% retention rate for two-year college students
- 85% and 82% retention rates at participating four-year institutions
MSFCP.org is currently operating at 10 post-secondary institutions, with plans to expand to four more colleges by 2027. The program is enhanced by Chase Community Managers who serve as guest lecturers, providing practical financial education to students.
JPMorganChase ha annunciato un investimento filantropico di 1,9 milioni di dollari per lanciare MSFCP.org, una nuova organizzazione che amplia il Programma di Coaching Finanziario Money Smart. L'iniziativa combina coaching e educazione finanziaria in un corso post-secondario mirato a raggiungere 1.500 studenti a livello nazionale.
Il programma, originariamente sviluppato presso il SUNY Westchester Community College, ha mostrato risultati impressionanti nelle istituzioni partecipanti:
- Il 35% degli studenti ha risparmiato oltre tre mesi (con una media di 2.016 dollari)
- Il 67% ha raggiunto almeno un obiettivo finanziario
- Il 27% ha ridotto il debito (con una media di 2.263 dollari)
- Il tasso di permanenza per gli studenti dei college biennali è del 72%
- I tassi di permanenza sono dell'85% e dell'82% nelle istituzioni quadriennali partecipanti
MSFCP.org è attualmente operativo in 10 istituzioni post-secondarie, con piani di espansione a quattro ulteriori college entro il 2027. Il programma è potenziato dai Manager Comunitari di Chase che fungono da relatori ospiti, offrendo un'educazione finanziaria pratica agli studenti.
JPMorganChase ha anunciado una inversión filantrópica de 1,9 millones de dólares para lanzar MSFCP.org, una nueva organización que expande el Programa de Coaching Financiero Money Smart. La iniciativa combina coaching y educación financiera en un curso postsecundario destinado a alcanzar a 1.500 estudiantes en todo el país.
El programa, desarrollado originalmente en el SUNY Westchester Community College, ha mostrado resultados impresionantes en las instituciones participantes:
- El 35% de los estudiantes ahorraron durante tres meses (con un promedio de 2.016 dólares)
- El 67% logró al menos un objetivo financiero
- El 27% redujo su deuda (con un promedio de 2.263 dólares)
- Tasa de retención del 72% para estudiantes de colleges de dos años
- Tasas de retención del 85% y 82% en las instituciones de cuatro años participantes
MSFCP.org opera actualmente en 10 instituciones postsecundarias, con planes de expandirse a cuatro colegios más para 2027. El programa se enriquece con los Gerentes Comunitarios de Chase que actúan como conferenciantes invitados, proporcionando educación financiera práctica a los estudiantes.
JP모건체이스는 MSFCP.org를 출시하기 위해 190만 달러의 자선 투자를 발표했습니다. 이는 Money Smart 재정 코칭 프로그램을 확장하는 새로운 조직입니다. 이 이니셔티브는 재정 코칭과 교육을 결합하여 1,500명의 학생들에게 도달하는 것을 목표로 하는 고등 교육 과정입니다.
이 프로그램은 원래 SUNY 웨스트체스터 커뮤니티 칼리지에서 개발되었으며, 참여 기관에서 인상적인 결과를 보여주었습니다:
- 학생의 35%가 3개월 동안 저축했습니다 (평균 2,016 달러)
- 67%가 최소한 하나의 재정 목표를 달성했습니다
- 27%가 부채를 줄였습니다 (평균 2,263 달러)
- 2년제 대학 학생의 유지율은 72%입니다
- 참여하는 4년제 기관에서의 유지율은 85% 및 82%입니다
MSFCP.org는 현재 10개의 고등 교육 기관에서 운영되고 있으며, 2027년까지 4개의 대학으로 확장할 계획입니다. 이 프로그램은 학생들에게 실질적인 재정 교육을 제공하는 초청 강사로 활동하는 체이스 커뮤니티 매니저들에 의해 강화됩니다.
JPMorganChase a annoncé un investissement philanthropique de 1,9 million de dollars pour lancer MSFCP.org, une nouvelle organisation qui étend le Programme de Coaching Financier Money Smart. L'initiative combine le coaching financier et l'éducation dans un cours postsecondaire visant à atteindre 1 500 étudiants à l'échelle nationale.
Le programme, développé à l'origine au SUNY Westchester Community College, a montré des résultats impressionnants dans les institutions participantes :
- 35 % des étudiants ont économisé pendant trois mois (en moyenne 2 016 dollars)
- 67 % ont atteint au moins un objectif financier
- 27 % ont réduit leur dette (en moyenne 2 263 dollars)
- Taux de maintien de 72 % pour les étudiants des collèges de deux ans
- Taux de maintien de 85 % et 82 % dans les institutions de quatre ans participantes
MSFCP.org est actuellement opérationnel dans 10 institutions postsecondaires, avec des plans d'expansion vers quatre autres collèges d'ici 2027. Le programme est renforcé par les Gestionnaires Communautaires de Chase qui interviennent en tant que conférenciers invités, offrant une éducation financière pratique aux étudiants.
JPMorganChase hat eine philanthropische Investition von 1,9 Millionen Dollar angekündigt, um MSFCP.org zu starten, eine neue Organisation, die das Money Smart Financial Coaching Programm erweitert. Die Initiative kombiniert finanzielle Beratung und Bildung in einem postsekundären Kurs, der darauf abzielt, landesweit 1.500 Studierende zu erreichen.
Das Programm, das ursprünglich am SUNY Westchester Community College entwickelt wurde, hat beeindruckende Ergebnisse in den teilnehmenden Institutionen gezeigt:
- 35% der Studierenden haben in drei Monaten über 2.016 Dollar gespart
- 67% haben mindestens ein finanzielles Ziel erreicht
- 27% haben ihre Schulden um durchschnittlich 2.263 Dollar reduziert
- Die Bindungsquote für Studierende an zweijährigen Colleges beträgt 72%
- Die Bindungsraten an den teilnehmenden vierjährigen Institutionen liegen bei 85% und 82%
MSFCP.org ist derzeit an 10 postsekundären Institutionen tätig und plant, bis 2027 auf vier weitere Colleges zu expandieren. Das Programm wird durch die Community-Manager von Chase unterstützt, die als Gastdozenten fungieren und den Studierenden praktische finanzielle Bildung bieten.
- Significant philanthropic investment of $1.9M demonstrates commitment to program expansion
- Strong program success metrics with 35% of students saving and 27% reducing debt
- High retention rates: 72% for two-year colleges (9 points above national average)
- Planned expansion to reach 1,500 students by 2027
- None.
MSFCP.org combines financial coaching and education into one course at colleges and universities to improve students’ credential completion and financial health
MSFCP was developed at the State University of New York Westchester Community College (SUNY WCC) and incubated by the National Council for Workforce Education (NCWE) with strategic guidance and funding from the firm that focused on improving financial health and academic outcomes. JPMorganChase is enhancing the impact of the course by introducing local Chase Community Managers as guest lecturers, coordinating with professors to reinforce financial education and providing students with practical application tips.
“MSFCP is a testament to the power of strategic partnerships and innovative educational models,” said Darlene G. Miller, Ed.D., Executive Director of MSFCP.org. “We are helping students learn essential financial skills, while fostering a supportive community that encourages academic and personal growth. MSFCP empowers students to make informed financial decisions, ultimately enhancing their academic performance and increasing their likelihood of graduation.”
In line with JPMorganChase’s financial health strategy to advance financial stability, resilience, wealth building and wealth protection, MSFCP.org is well positioned to provide the individualized support students, including those from underserved communities, need to tackle common financial barriers and complete postsecondary education, such as budgeting, saving, and managing debt.
“During our work with SUNY WCC, we were impressed by the impact MSFCP had on student financial health and their academic pursuits. It was too good to be contained at just one school. So together with SUNY WCC and NCWE, the program was replicated at other institutions across rural, inner city and suburban communities and achieved similar results,” said Jeanique Riche-Druses, Northeast Region Executive for Global Philanthropy at JPMorganChase. “We couldn’t be more pleased with the launch of the new organization, MSFCP.org, that will scale this program to even more schools to help all students improve their financial health and achieve their dreams.”
Incubating an Innovative and Impactful Approach to Financial Health
JPMorganChase supported SUNY WCC between 2014 and 2021 to help shape and fund the original financial coaching program for students, with notable early success. One MSFCP student paid off two credit cards, built an emergency savings fund, and opted to stay in school at WCC within three months of joining the coaching program. After SUNY WCC reported a 91 percent persistence rate among MSFCP participants, JPMorganChase approached NCWE to help SUNY WCC scale the program at other community colleges, technical colleges, four-year universities and HBCUs across
"Across the nation, colleges are forging powerful public-private partnerships to support their students and address workforce and community needs. We must elevate successful models like MSFCP and other practitioner-driven innovations” said Kate Kinder, Executive Director of the National Council for Workforce Education (NCWE). “By identifying and incubating these local solutions, we can scale their impact nationally. Investing in partnerships and peer learning is crucial to empower communities and propel college and career pathways that offer economic prosperity."
According to the latest independent evaluation, financial coaching at post-secondary education institutions is associated with stronger personal financial health among students and improved student graduations or transfers to a four-year institution. Among MSFCP students at
-
35 percent saved over three consecutive months (
$2,016 - 67 percent achieved at least one financial goal.
-
27 percent reduced debt (
$2,263 - 18 percent increased their credit score (52 points on average).
- 72 percent of First-Time Full-Time two-year college students returned to their school (nine points higher than the national average).
-
85 percent and 82 percent retention for four-year college students at
Long Island University and Winston-Salem State University, respectively.
Leveraging JPMorganChase’s Extensive Community Banking Network to Support Student Financial Health
JPMorganChase strengthens the financial foundation of clients, customers, and communities through a network of 150 Community Managers and nearly 5,000 branches nationwide. The firm plans to hire 75 more Community Managers by 2030, and open more than 500 new branches, and renovate 1,700 locations across the country over the next two years.
JPMorganChase is deploying local Chase Community Managers—who are dedicated to improving financial health in communities—as guest lecturers. Community Managers coordinate with professors to reinforce financial education lessons and share tips for practical application.
“Our mission is to ensure every community we serve has access to the tools they need to be financially strong and resilient — and this support for MSFCP.org and local colleges is another way we can help people understand and manage their financial lives,” said Diedra Porché, Managing Director and Head of Community and Business Development at JPMorganChase. “At JPMorganChase, we know that when we equip students with the tools and knowledge they need to take control of their financial futures, we are setting them up for success in school and beyond, and we are proud to support the launch of this expanded initiative.”
MSFCP.org is currently working with Chase Community Managers at 10 post-secondary institutions—including a pilot with the City University of
For more information about the Money Smart Financial Coaching Program and its national expansion, please visit MSFCP.org or contact press@msfcp.org.
To learn more about how JPMorganChase helps improve access to resources for financial health, visit https://www.jpmorganchase.com/impact/financial-health-wealth-creation.
About Money Smart Financial Coaching Program (MSFCP)
Students at the City College of
Founded in 2024, MSFCP.org is dedicated to scaling financial coaching programs to colleges and universities across
About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in
JPMorganChase is supporting MSFCP.org through funding provided to FJC, which is serving as the fiscal sponsor for MSFCP.org. FJC is a 501c3 organization.
To learn more about how JPMorganChase helps improve access to resources for financial health, visit https://www.jpmorganchase.com/impact/financial-health-wealth-creation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250325718066/en/
Media Contact
Kevin Boland
kevin.boland@jpmchase.com
Source: JPMorgan Chase & Co.
FAQ
What are the key success metrics of JPM's Money Smart Financial Coaching Program?
How much has JPM invested in the MSFCP.org initiative?
How many institutions currently participate in JPM's MSFCP program?
What is the student reach target for JPM's MSFCP program by 2027?
