The Investing in Futures Fund will provide hundreds of single parents in London with grants to purchase essential items for their education
Family Action and JP Morgan Chase & Co. have launched the Investing in Futures Fund, on International Single Parents Day, to provide hundreds of single parents in London with grants in support of their education and training.
The Investing in Futures Fund will work with six colleges in London to provide grants of up to £2,500 each for eligible single parent students to purchase essential items for their education.
“The new fund’s aim is for single parents to overcome barriers to starting or completing their further education, in order to improve their future employment prospects, increase their access to professional development, and to relieve immediate financial pressures.”
The new fund’s aim is for single parents to overcome barriers to starting or completing their further education, in order to improve their future employment prospects, increase their access to professional development, and to relieve immediate financial pressures.
National charity Family Action works with more than 60,000 families across the UK, providing a wide range of practical, emotional and financial support, including 160 community-based services, and national helpline, FamilyLine.
David Holmes CBE, Chief Executive at Family Action, said: “We are delighted to be working with JP Morgan Chase & Co. to provide grants to hundreds of low-income single parents to enable them to access essential items in support of their further education.
“Half of all single-parent families are now living in relative poverty[i], and this has been made worse by the current cost-of-living crisis. Through the Investing in Futures Fund, we are investing in single parents and their family’s future by providing much-needed practical and financial support when they need it most.”
Cecil Peters, EMEA Head of Diversity, Equity & Inclusion, JPMorgan Chase, said: “We are thrilled to launch the Investing in Futures Fund with Family Action to support the educational journey of single parents, who often face unique barriers to success and financial security. As we know, education leads to greater opportunity and making it accessible to more people, especially single parents with financial pressures, is a critical step to improving social mobility in the U.K.”
Funded by JP Morgan Chase & Co. the Investing in Futures Fund will be delivered by Family Action, to City & Islington College, Ealing, Hammersmith and West London College, Lambeth College, London South Bank Technical College, South Thames Colleges Group and Stanmore College.
Gemma Dickson, Safeguarding & Welfare Coordinator for South Bank Colleges, said: “With the current cost of living crisis our single parent students are struggling more than ever. Many cannot afford to pay for food and bills and on top of this they have the extra financial burden of paying towards their education.
“We are delighted to be working with JP Morgan Chase & Co. to provide grants to hundreds of low-income single parents to enable them to access essential items in support of their further education.”
“This grant will assist towards paying for their travel to college, lunches and vital equipment needed for their course. It will enable them to successfully gain a qualification, and will take away some of the stress and anxiety that many of them are feeling right now due to financial pressures.”
Women on the Move is JPMorgan Chase’s commitment to provide women with opportunities to succeed in their professional and personal lives. The initiative focuses on fuelling womens’ ambitions and advancing financial equity by expanding women-run businesses, improving women’s financial health, advancing women’s career growth, and supporting women and girls in communities across the globe.
The six partner colleges will identify eligible recipients and will work with Family Action to distribute the funds and monitor their impact. The grants can be spent on technical equipment, study resources, course fees, travel, and food and refreshments whilst at college.