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Just when you thought student debt couldn’t get any worse, it does. More students today are paying their college fees on credit, and therefore carrying higher balances, a study has found. This study also shows that students are using their credit cards as opposed to seeking financial aid such as private loans and grants. Some students worry that their college debt will prevent them from buying homes in the future. Read more…
INDIANAPOLIS, Dec. 18 /PRNewswire/ — USA Funds®, the nation’s leading education-loan guarantor, announces that it is accepting applications online for a total of $3.2 million in scholarships to assist college students from low-to-moderate-income households.
USA Funds will award more than 2,100 USA Funds Access to Education Scholarships® to qualified students nationwide for the 2008-2009 academic year.
The program offers $1,500 scholarships to qualified full-time or half-time undergraduates and to full-time graduate and professional students. Applicants for the scholarships must be enrolled or plan to enroll in coursework at accredited two- or four-year colleges, universities or vocational/technical schools beginning with the fall-2008 term through Feb. 1, 2009. Due to funding reductions imposed by federal legislation, USA Funds offers these scholarships as one-time awards. If subsequent financial conditions permit, USA Funds will provide renewal awards and will notify scholarship recipients how to apply for renewal awards.
The program assists students from households with annual incomes of $35,000 or less.
“In keeping with our nonprofit mission to enhance postsecondary-education preparedness, access and success, these scholarships are designed to help increase the college-going rates of low- to-moderate-income students,” said Carl C. Dalstrom, USA Funds president and CEO. “Federal studies show that these students attend college at significantly lower rates than do their higher-income classmates.”
The application deadline is Feb. 15, 2008.
For complete eligibility information and to apply online, students should visit www.usafunds.org/scholarship on USA Funds’ Web site. A Spanish-language version of the scholarship information and online application is available from www.usafunds.org/beca.
Scholarships awarded under this program to residents of Alaska, California, Idaho, Oregon and Washington state are made possible with the support of College Spark Washington.
Headquartered in Indianapolis, USA Funds is a nonprofit corporation that works to enhance postsecondary-education preparedness, access and success by providing and supporting financial and other valued services. During the year ending Sept. 30, 2007, USA Funds guaranteed education loans totaling $25.8 billion for students and parents throughout the nation. USA Funds serves as the designated guarantor of federal education loans in eight states: Arizona, Hawaii, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming. USA Funds also invests $16.3 million annually in scholarships and outreach programs that advance its mission of support to higher education. For more information about USA Funds, visit www.usafunds.org.
