Thursday, August 18, 2005

USA Funds Awards Scholarships

INDIANAPOLIS - USA Funds(R), the nation's leading education-loan guarantor, announces the award of $252,750 in scholarships to help 173 low-to-moderate-income students in Nevada pursue higher education.

USA Funds awarded $135,750 in scholarships to 92 first-time recipients of USA Funds Access to Education Scholarships(R) in Nevada for the 2005-2006 academic year. In addition, USA Funds awarded $117,000 in renewal scholarships to 81 Nevada students who previously had received awards under the program.

Because USA Funds serves as Nevada's designated guarantor of federal education loans, Nevada residents receive priority consideration for the awards.

"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.

For a list of first-time USA Funds Access to Education Scholarship recipients for 2005-2006, visit http://www.usafunds.org/planning/access_to_education_scholarship/index.html .

Information about USA Funds' 2006-2007 scholarship program will be posted beginning Oct. 3 on USA Funds' Web site, http://www.usafunds.org/ .

Headquartered in Indianapolis, USA Funds is a nonprofit corporation that works to enhance postsecondary-education preparedness, access and success by providing and supporting financial and other valued services. USA Funds annually guarantees education loans totaling $16.5 billion for students and parents throughout the nation and serves as the designated guarantor of federal education loans for eight states: Arizona, Hawaii and the Pacific Islands, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming.

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