Scholarships will help more than 5,400 students pay for college

USA Funds awards nearly $8 million in scholarships

INDIANAPOLIS — USA Funds^®, the nation’s leading education-loan guarantor, announces the award of nearly $8 million in scholarships to help more than 5,400 low-to-moderate-income students nationwide pursue higher education.

USA Funds awarded $3.15 million in scholarships to 2,118 first-time recipients of USA Funds Access to Education Scholarships^® for the 2005-2006 academic year. In addition, USA Funds awarded more than $4.8 million in renewal scholarships to 3,312 students who previously had received awards under the program.

“These scholarships will help academically qualified students with financial need reap the significant rewards of higher learning,” said Carl C. Dalstrom, USA Funds president and CEO. “Consistent with USA Funds’ nonprofit mission to enhance higher-education preparedness, access and success, we are pleased to help these students pay for higher education.”

To qualify for the scholarships, students must come from households with annual incomes of $35,000 or less. Full-time undergraduate, graduate and professional students are eligible for $1,500 scholarships, and half-time undergraduates may receive $750 scholarships.

If a scholarship recipient maintains a grade-point average of at least 2.5, the scholarship may be renewed annually until the student receives a degree or certificate, or the total amount awarded reaches $6,000, whichever comes first.

View a list of first-time USA Funds Access to Education Scholarship recipients for 2005-2006.

Information about USA Funds’ 2006-2007 scholarship program will be posted beginning Oct. 3 on USA Funds’ Web site.