JPMorgan Chase Acquires Frank, the Leading College Financial Planning Platform for Students
Acquisition to help millions of students and adult learners plan, save, and apply for college
The firm will acquire Frank’s entire business, including its Easy FAFSA®,
“We want to build lifelong relationships with our customers,” said
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
“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.”
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:
About Chase
Chase is the
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Media contact:
elizabeth.c.seymour@jpmorgan.com
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