Survey: FFELP Providers Deliver Extensive Services

A survey by the National Council of Higher Education Loan Programs finds that organizations in the Federal Family Education Loan Program provide extensive services to students, families and postsecondary institutions. Conducted earlier this month, the survey of NCHELP members — including USA Funds^® — disclosed that during the 2008 they delivered the following services:

• Averted default on more than $60 billion in past-due FFELP loans.
• Provided hands-on financial literacy, college awareness and financial aid programming to more than 1.4 million students and parents.
• Distributed more than 14 million brochures and publications in multiple languages on career and college planning and preparation, as well as personal finance topics.
• Trained more than 26,000 school guidance counselors who then assisted thousands of students in pursuing their postsecondary goals.
• Hosted or supported approximately 10,000 financial aid nights to raise awareness about available funds to attend postsecondary education institutions, help students and families fill out financial aid applications, and teach students how to apply for college.
• Provided free online career, college, financial aid and financial literacy assistance to 48 million visitors.
• Operated or supported 20 college access resource centers and hosted or supported 26 financial aid hotlines to provide additional assistance to students and families.
• Provided training to 62,000 financial aid administrators.

NCHELP represents a nationwide network of guarantors, secondary markets, lenders, loan servicers, collectors, schools and other organizations that provide financial assistance to millions of American students and their families each year.