Scholarships will help 5,623 students pay for college

USA Funds awards $8.3 million in scholarships

INDIANAPOLIS — USA Funds^®, the nation’s leading education-loan guarantor, announces the award of more than $8.3 million in scholarships to help 5,623 low-to-moderate-income students nationwide pursue higher education.

USA Funds awarded more than $3.2 million in scholarships to 2,134 first-time recipients of USA Funds Access to Education Scholarships^® for the 2007-2008 academic year. In addition, USA Funds awarded more than $5.1 million in renewal scholarships to 3,489 students who previously had received awards under the program.

“Consistent with USA Funds’ nonprofit mission to enhance higher-education preparedness, access and success, we are pleased to help these students pay for postsecondary education,” said Henry L. Fernandez, USA Funds executive director, access and outreach. “During the past six years, USA Funds’ national scholarship program has awarded more than $42 million in scholarships to more than 13,000 students.”

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

Scholarships awarded under the program to residents of Alaska, California, Idaho, Oregon and Washington state are made possible with the support of College Spark Washington.

View a list of first-time USA Funds Access to Education Scholarship recipients for 2007-2008.