Scholarships promote access to education for needy students

USA Funds awards nearly $7.5 million in scholarships to 5,087 students

INDIANAPOLIS — USA Funds^®, the nation's leading education-loan guarantor, has awarded 5,087 new and renewal scholarships totaling nearly $7.5 million to deserving college-bound students nationwide. The scholarships assist students in financial need — particularly students who are members of ethnic-minority groups or are physically disabled — as they finance their higher education.

“These scholarships will help students overcome financial barriers to postsecondary education,” said Carl C. Dalstrom, USA Funds president and CEO. “As part of our nonprofit mission, USA Funds works to make a real difference in promoting students' preparedness for, access to and success in higher education.”

The new scholarship recipients were chosen from more than 8,200 applications from students planning to enroll or currently enrolled in undergraduate or graduate programs at accredited two- or four-year colleges, universities or vocational/technical schools.

The awards included 2,123 new scholarships totaling more than $3.1 million and 2,964 renewal scholarships totaling more than $4.3 million.

The scholarships provide each full-time undergraduate and graduate student with $1,500; each half-time undergraduate receives $750. Students who maintain grade-point averages of at least 2.5 on a 4.0 scale may receive renewal scholarships annually until the students receive their final degrees or certificates, or until the total award to a student reaches $6,000.

Scholarship Management Services, a program of Scholarship America, the nation's largest private-sector scholarship and educational-support organization, administers the program.

View a list of scholarship recipients. Information about USA Funds' 2005 scholarship program will be posted on the USA Funds Web site beginning Oct. 1.