JPMorgan Chase announced on Tuesday that it's investing $1 million in education grants for veterans. Funds have been awarded to Florida State College at Jacksonville, University of South Florida, The University of Texas at Arlington and San Diego State University, with an additional round of recipients to be announced later this year.
"Education is a path to sustainable employment as well as family and financial stability," Maureen Casey, director of military and veterans affairs for JPMorgan, said in a statement. "By supporting educational opportunities for veterans and their families, we will cultivate and empower the next greatest generation."
The funds are part of JPMorgan's larger initiative to provide education for veterans, which includes the Syracuse University's Institute for Veterans and Military Families, a national center co-founded by JPMorgan that focuses on social, economic, education and policy issues that affect veterans and their families post-service; the Veterans Career Transition program, a tuition-free program that helps post-9/11 veterans and spouses transition to civilian life; and the 100,000 Jobs Mission, a coalition of 10 companies that committed in 2011 to hiring 100,000 veterans by 2020. The coalition, now numbering 131 companies, has since met that goal and doubled it to pledge to hire 200,000 veterans by 2020.
Schools can use the funds for programs that "that impact and improve veteran performance, retention and graduation rates in higher education," Shannon O'Reilly, communications director for military and veterans affairs at JPMorgan Chase, told ThinkAdvisor in an email. Funds will be given to schools with programs to help student veterans in three areas: orientation and bridge programs, student services and classroom experience.
Casey testified before the House Committee on Veterans Affairs on Tuesday to share ways JPMorgan has helped veterans find employment after leaving the military.
