For many college students, financial instability is just as much a hurdle as their academic challenges. JPMorganChase aims to change that with the launch of MSFCP.org, a new organization dedicated to improving students’ financial health and academic success. Building on the Money Smart Financial Coaching Program (MSFCP), this initiative blends financial coaching with education to help students manage their money, stay in school and secure well-paying jobs after graduation.
Backed by $1.9 million in philanthropic funding and fiscally sponsored by FJC, the program is set to reach at least 1,500 students nationwide. Originally developed at SUNY Westchester Community College and incubated by the National Council for Workforce Education, MSFCP has proven its ability to make a difference. Now, JPMorganChase is taking it to the next level by introducing local Chase Community Managers as guest lecturers, partnering with professors to reinforce financial education and giving students real-world tools to take control of their finances.
“MSFCP empowers students to make informed financial decisions, ultimately enhancing their academic performance and increasing their likelihood of graduation,” said Darlene G. Miller, Ed.D., Executive Director of MSFCP.org.
The program’s success is rooted in years of development. From 2014 to 2021, JPMorganChase supported SUNY WCC in shaping MSFCP and showed tangible results. Within three months of joining the program, one student paid off two credit cards, built an emergency savings fund and decided to continue their education. Encouraged by a 91% persistence rate among participants, JPMorganChase partnered with NCWE in 2021 to expand the program nationwide with a $2.5 million investment, bringing it to colleges across New York, Michigan, North Carolina and Washington State.
The impact has been significant. Students have learned how to budget, save, and manage their debut and have seen measurable improvements in their financial well-being. Participants have increased their savings, reduced debt, improved credit scores and achieved higher retention rates compared to national averages.
Recognizing the need for sustained support, JPMorganChase is leveraging its extensive network to make financial education more accessible. With nearly 5,000 branches nationwide and a team of 150 Community Managers, the firm is committed to strengthening financial stability in communities. Over the next five years, it plans to hire 75 more Community Managers, open new branches and renovate 1,700 locations to expand access to financial resources.
“At JPMorgan Chase, 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,” said Diedra Porché, Managing Director and Head of Community and Business Development at JPMorganChase.
Currently, MSFCP.org is working with 10 post-secondary institutions, including a pilot program with the City University of New York. With plans to expand to four more colleges by 2027, the initiative is well on its way to transforming how students approach financial health﹣setting them up for long-term success both in and beyond the classroom.
For Marcelo Soba
