John Hancock Launches 14th Annual MLK Scholarship Program, Nation’s Largest Corporate Summer Jobs Program, Advancing Employment and Financial Capability
Recent study shows nearly 80% of former participants feel better prepared to manage their money
TSX / NYSE / PSE: MFC SEHK: 945
BOSTON, July 6, 2021 / PRNewswire / – Today, John Hancock, the American division of Torontobased in Manulife (NYSE: MFC), announced the launch of its 14th annual MLK Scholarship Program. The most comprehensive corporate summer jobs program of its kind in the country, MLK Scholars offers summer jobs and digital financial capabilities through EVERFI, a leading company in the field of education technology for digital learning, to more than 600 from Boston youth. A recent study shows that the MLK Scholars program and the EVERFI program have helped build student financial confidence, with 77% of former participants feeling better prepared to manage their money now than before the program.
“Economic empowerment and financial education are essential for from Boston young people, and a rewarding work experience helps develop positive long-term financial behaviors and skills, ”said Boston Mayor Kim janey. “For too many people, these opportunities are not accessible. It’s great to see initiatives like the John Hancock MLK Scholarship Program help level the playing field and foster a future diverse pool of young loans. to use for from Boston communities. “
The MLK Scholars Program is a unique cross-sector collaboration led by John Hancock in partnership with The Boston Globe, Boston university, Mass General Brigham, and the City of Boston. This year the $ 1.2 million The initiative will provide more than 600 young people in Boston with summer employment assignments and bi-monthly virtual personal development workshops called Leadership Forums that incorporate the teachings of Dr. Martin Luther King jr. and focus on empowering students at work, at school and in the community.
As of 2018, the John Hancock Well-Being Education Center through EVERFI has been a resource not only for MLK Scholars program participants, but for all youth participating in summer employment programs supported by the Boston Private Industry Council and the City of Boston. EVERFI’s unique digital education program offers financial skills training and mental wellness resources for young adults.
EVERFI’s platform is proven to help scholars manage their financial lives and achieve their goals for the future. Joint research conducted by EVERFI and John Hancock, titled Employment and Financial Capability: Experiences of Participants in the John Hancock Youth Summer Employment Program, shows that eight in ten former program participants feel that the education they received through the John Hancock Well-Being Education Center helped them manage the money they received. In addition, 69% of participants say they feel prepared or very prepared when it comes to setting and following a budget to manage spending and savings, compared to 46% of their respondents. Massachusetts high school mates.
“John Hancock remains deeply committed to our MLK Scholars program as we understand the important role it plays in preparing students for their careers and financial futures, ”said Marianne harrison, John Hancock President and CEO. “Pairing work experience with financial skills training helps open doors for young people in our city and enables them to make informed financial decisions, laying the foundation for economic growth and a better life. Boston. “
Last summer, MLK fellows adjusted to a distance program due to the pandemic and this year the program will run in a hybrid format, allowing for remote and in-person connection opportunities for Boston youth. MLK Fellows are selected by nonprofit partners for their leadership potential and will be employed approximately 20-25 hours per week at 50 local nonprofits and corporations, including John Hancock, where 36 fellows will work as interns. secondary school. Of the 36 fellows working at John Hancock, 14 are returning and 7 more are returning to the company as university interns.
“We know that the best path to a secure financial future is to learn the basics of finance from an early age and we are thrilled to be working with John Hancock to bring this education to so many young people across Boston,” mentionned Ray martinez, president and co-founder, EVERFI. “Ensuring a solid financial understanding has never been more important than right now, as our young people are inundated with opportunities to make financial mistakes that can have a negative impact in the long run. The era of learning financial matters from our mistakes is over and our collective responsibility to ensure that the next generation has all the education they need to achieve financial well-being. ”
For more information visit https://www.johnhancock.com/about-us/corporate-responsibility/mlk-nonprofit.html
the Employment and Education: Experiences of Participants in the John Hancock Youth Summer Employment Program report summarizes the findings of 85 young people who responded to surveys between July and August 2020. Where possible, comparisons are made with responses from a sample of Massachusetts high school juniors and seniors participating in the EVERFI financial education course. Comparisons are drawn from responses collected before students begin an EVERFI financial education course.
About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services group that helps people make decisions easier and live better lives. We operate primarily under the John Hancock name in United States, and Manulife around the world, including Canada, Asia and Europe. We offer financial advice, insurance and wealth management solutions for individuals, groups and institutions. The assets managed and administered by Manulife and its subsidiaries have been 1.3 trillion Canadian dollars (US $ 1.0 trillion) from the March 31, 2021. Manulife Financial Corporation trades as MFC on the TSX, NYSE and PSE, and as 945 on SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in United StatesJohn Hancock supports more than 10 million Americans with a wide range of financial products, including life insurance, annuities, investments, 401 (k) plans and education savings plans. Additional information on John Hancock can be found at johnhancock.com.
SOURCE John Hancock