John Hancock Announces 2023 MLK Scholars Program, Invests Another $1 Million in Summer Jobs, Financial Education for Boston Youth

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Jul 10, 2023, 09:00 ET

84 Percent of Students Report Feeling More Prepared to Manage Finances Following Program

BOSTON, July 10, 2023 /PRNewswire/ - Today, John Hancock, a unit of Toronto-based Manulife (TSX: MFC), announces the start of its annual MLK Scholars Program, which provides summer jobs, financial education, and professional development opportunities to Boston youth. Since 2008, John Hancock has invested over $16 million to fund the program and create inclusive career opportunities for more than 6,000 student participants.

This summer, in partnership with the City of Boston, John Hancock is sponsoring the employment of hundreds of Boston teens at John Hancock and 30 other local non-profit and corporate worksites across the city. The MLK Scholars Program leverages youth employment to build capacity within the non-profit community for summer programming and create opportunities for long-term employment within our public service and private corporate sectors. The program benefits the organizations that employ MLK Scholars by engaging Boston's diverse student population in potential career paths in their industries.

"John Hancock is committed to creating inclusive economic opportunities and fostering the local talent that will drive the future of not just our industry, but our community," said Brooks Tingle, CEO of John Hancock. "Helping to develop this talent pipeline in Boston is critical to leveling the playing field for young people who do not have equal access to the work experiences and networks that are key to building long-term skills, self-confidence, and financial empowerment. We are thrilled to welcome this year's MLK Scholars to the program."

In addition to real-world, hands-on workplace experience, a key component of the program is offering students access to the John Hancock Well-Being Education Center, a one-of-a-kind digital curation of financial and mental wellness resources for young adults created in partnership with EVERFI. The center features digital learning modules focused on personal finance topics ranging from financing higher education and savings to identity protection and taxes. Following the 2022 MLK Scholars Program, 84 percent of student participants reported feeling more prepared to manage their money than they did before starting the program.¹

"The MLK Scholars program provides our youth with incredible resources and support in pursuing summer jobs. We are grateful to John Hancock and all the non-profit and corporate partners for their work to ensure that our City's young people have access to inclusive opportunities for professional, economic, and personal development," said Michelle Wu, Mayor of Boston. "We hope that community partners will continue to join us in prioritizing youth employment and financial education across Boston."

Additionally, John Hancock is collaborating with the Boston Private Industry Council (Boston PIC) to pilot an in-person networking event on July 28. The event at John Hancock's Boston headquarters will be open to this year's MLK Scholars as well as summer interns from financial services companies participating in the Boston PIC's summer jobs program. The event will feature a panel of program alumni sharing their personal stories and career advice, as well as a networking session which will allow students the chance to connect with representatives from the participating financial service firms and each other.

For more information about the MLK Scholars program, visit https://www.johnhancock.com/about-us/community-investment/mlk-nonprofit.html.

About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities. John Hancock also supports US investors by bringing leading investment capabilities and retirement planning and administration expertise to individuals and institutions. Additional information about John Hancock may be found at johnhancock.com.

¹The Employment and Education: Experiences of John Hancock Summer 2022 Youth Employment Program Participants report summarizes the findings from 146 youth who responded to surveys during the summer of 2022. Where possible, comparisons are made to responses from a sample of Massachusetts high school juniors and seniors participating in EVERFI's financial education course. Comparisons are drawn from responses collected before students began an EVERFI financial education course.

SOURCE John Hancock