Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

JPMORGAN CHASE & CO.

(JPM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

JPMorgan Chase : Acquires Frank, the Leading College Financial Planning Platform for Students

09/21/2021 | 10:31am EDT

Acquisition to help millions of students and adult learners plan, save, and apply for college

JPMorgan Chase & Co today announced that it has acquired Frank, the fastest growing college financial planning platform, to help millions of students and their families navigate their financial journey to college and beyond.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210921005169/en/

The firm will acquire Frank’s entire business, including its Easy FAFSA®, Classfinder College Course Marketplace, Scholarships & Employment tools, and Financial Education and Careers content.

“We want to build lifelong relationships with our customers,” said Jennifer Piepszak, co-CEO of Chase. “Frank offers a unique opportunity for deeper engagement with students. Together, we’ll be able to expand our capabilities for students and their families, helping them financially prepare for college and other major moments in their future.”

Frank currently serves more than five million students at over 6,000 higher education institutions across the country. Their simple online portal lets students apply for financial aid in minutes and enroll in Frank’s catalogue of affordable online college courses.

Frank’s solutions uniquely cater to 17–24-year-old students, 24+ year-old adult learners, parents and guardians, and households of a low-to-moderate income. Their platform includes:

  • A streamlined FAFSA® application process that reduces time from hours to minutes
  • Advice to students appealing and negotiating financial aid packages
  • Curated scholarships
  • ClassFinder, a marketplace of discounted college-level courses for transferable credit

The deal is expected to accelerate Chase’s strong foundation with students including products, content, and guidance for students of all ages, with branches and ATMs on or in close proximity to over 300 college campuses across the country. These branches offer financial health resources and advice for students and their families like budget building, starting a savings plan or opening their first checking account.

The Frank brand will continue to be led by Frank Founder and CEO Charlie Javice. She will join the firm as Head of Student Solutions on the Digital Products team.

“We launched Frank to make college more accessible for students and their families, and have already helped millions across the nation,” said Charlie Javice, Frank Founder and CEO. “We look forward to joining the Chase family to further this mission. Together, we can multiply our impact to help more students and their families achieve their financial goals and education dreams.”

Ms. Piepszak added, “We are excited to welcome Charlie and Frank to JPMorgan Chase, and look forward to working together to empower students and their families to build a stronger financial future.”

About Frank

Frank was founded in 2017 by then 24-year-old female founder Charlie Javice to make college more affordable for millions of Americans and help them achieve financial wellness in their lives. More than five million students have benefited from Frank’s services on their path to higher education. The Frank platform includes an easy to navigate FAFSA® application form, ClassFinder marketplace for shopping for online courses, and resources to help students navigate a variety of financial situations. Investors included: Chegg (NYSE: CHGG); Aleph, the U.S.-Israeli investment fund that also funded Lemonade; Silicon Valley Bank; and Marc Rowan, the co-founder and CEO of Apollo Global Management, one of the largest private equity firms in the world.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.7 trillion and operations worldwide. Chase serves more than 60 million American households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans, and payment processing. Customers can choose how and where they want to bank: More than 4,800 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online, and by phone. For more information, go to chase.com.


© Business Wire 2021
All news about JPMORGAN CHASE & CO.
10/22Exclusive-Citgo boards in last-ditch talks with Washington to keep creditors at bay
RE
10/22Hawkish calls for Brazil October rates meeting grow on fiscal worries
RE
10/22JPMORGAN CHASE : Paymentus Team Up to Provide Digital Bills Payment Solution to Businesses
MT
10/22WALL STREET STOCK EXCHANGE : Nasdaq takes a hit from Intel and Snap
10/22FANTASIA : Evergrande averting default to do little to revive China property bond sales
RE
10/22JPMORGAN CHASE : Ethereum almost as big as visa
AQ
10/22GOLD OVER GREEN? Banks among those named as loaning money for deforestation
AQ
10/21Brazil stocks and currency plunge, rate futures rise on fiscal fears
RE
10/21Why today's economy can handle oil at $100 a barrel or higher
RE
10/21DEUTSCHE WOHNEN SE : Release according to Article 40, Section 1 of the WpHG [the German Se..
DJ
More news
Analyst Recommendations on JPMORGAN CHASE & CO.
More recommendations
Financials (USD)
Sales 2021 123 B - -
Net income 2021 44 986 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,5x
Yield 2021 2,21%
Capitalization 508 B 508 B -
Capi. / Sales 2021 4,14x
Capi. / Sales 2022 4,16x
Nbr of Employees 265 790
Free-Float 71,8%
Chart JPMORGAN CHASE & CO.
Duration : Period :
JPMorgan Chase & Co. Technical Analysis Chart | JPM | US46625H1005 | MarketScreener
Technical analysis trends JPMORGAN CHASE & CO.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 171,78 $
Average target price 172,55 $
Spread / Average Target 0,45%
EPS Revisions
Managers and Directors
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Jeremy Barnum Chief Financial Officer
Lori A. Beer Chief Information Officer
Sector and Competitors