Debt-Management Perspectives

USA Funds Reports Decline in Loan-Default Rate
Draft cohort-default-rate figures released by the U.S. Department of Education indicate that USA Funds^®' default rate fell to 4.22 percent of the borrowers who entered repayment during fiscal 2005, a decline from the 4.89-percent rate that USA Funds recorded for the previous cohort of borrowers. Read more.

Washington Report

Senate Approves $260 Increase in Maximum Pell Grant
President Bush has signed into law a fiscal-2007 funding measure that includes a $260 increase in the maximum Pell Grant. The U.S. Senate last week approved the measure on a vote of 81 to 15. The U.S. House had previously voted overwhelmingly for the funding bill.

Witnesses: Eliminate FFELP
Two of four witnesses appearing at a hearing before the U.S. Senate Committee on Health, Education, Labor and Pensions recommended the elimination of the Federal Family Education Loan Program, the largest federal student-aid program. Learn more.

USA Funds Update

USA Funds Publications Help Families Plan, Pay for College
Publications that USA Funds sponsored in January and February are helping families in eight states manage the financial-aid process and prepare for higher education. Read more.

Grant From USA Funds to Help Low-Income Students in Arizona Pay for College
USA Funds recently awarded a $100,000 grant to help fund scholarships through the Arizona College Scholarship Foundation. Learn more.

Default-Prevention Specialists Help Get Borrowers Back on Track
Default-Prevention Specialist Amber Fox draws on her own experiences as a student-loan borrower when counseling borrowers about their options for resolving payment problems. Read more.

USA Funds Staff Profile: Helping Students by Meeting Financial Responsibilities
From sending grant funds to individuals and organizations supported by USA Funds’ philanthropic efforts, to monitoring corporate budget records, Phil Dean’s work as an accountant for USA Funds includes a broad range of responsibilities. Read more.