Organization Has Distributed More Than $2.7 Billion in Scholarships and Sent 1.8 Million Students to College in Past Half Century

MINNEAPOLIS, Oct. 17, 2011 /PRNewswire/ -- Scholarship America®, the nation's largest provider of scholarships, is celebrating a half century of making students' higher education dreams come true.

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During the past 50 years, the Minnesota-based nonprofit organization has provided more than $2.5 billion in scholarships to 1.8 million students and in the process helped them realize their dreams of earning an education beyond high school.

"From day one, Scholarship America has been focused on providing the financial resources necessary for students to pursue their higher education and today we believe that mission is more important than ever given the growing costs of college and the significant debt students face at graduation," said Lauren Segal, president and CEO of Scholarship America. "We are humbled by the amount of lives that have been touched and we will continue to work hard to ensure students not only have the financial means to get into college but that they also graduate with a minimum amount of debt."

Scholarship America was founded in 1961 in Fall River, Mass., by Dr. Irving Fradkin, who noticed a discrepancy between students' desires to go to college and their families' abilities to pay for it. To bridge the gap, Fradkin asked each person in his Fall River community to donate just $1 towards sending Fall River seniors to college. His early efforts became known as the Dollars for Scholars program, which still exists today under Scholarship America and is active in more than 3,500 communities nationwide.

"I started this organization because I believe that everyone should have the ability to go to college and I also thought it was the duty of the community to make that dream a reality," Fradkin said. "It is amazing what has been accomplished in the past 50 years and it all began with $1."

With the cost of college tuition on the rise, the number of college graduates on the decline, and more than $700 billion in student loan debt nationally, scholarships have become an essential component for students who want to earn a higher education. Scholarship America's philosophy supports the continuum of student needs from college preparation and access through degree completion, debt reduction and giving back to the community. In addition to entry-level scholarships, Scholarship America awards renewable multi-year scholarships, as well as emergency financial grants – all of which provide students with the financial assistance they need to complete their post-secondary degrees.

"Making it financially possible for students to get a college degree not only helps them realize their dreams but it also advances the economic vitality of our country's future," Segal said.

Recently, Scholarship America was chosen by former CBS Evening News anchor Katie Couric as the beneficiary of the proceeds from her new book, The Best Advice I Ever Got: Lessons From Extraordinary Lives, a collection of essays, poems and advice geared towards encouraging college graduates to think about their futures.  Thus far, Couric has donated more than $350,000 in proceeds from her book to Scholarship America.

Scholarship America will celebrate its accomplishments with an event in Minneapolis on October 27 featuring founder Dr. Fradkin.

To learn more about Scholarship America, find scholarship tips and resources, and get involved, visit  www.ScholarshipAmerica.org.

ABOUT SCHOLARSHIP AMERICA®

Scholarship America is a national education service organization that mobilizes support for students getting into and graduating from college. Scholarship America has distributed more than $2.5 billion in scholarship assistance to more than 1.8 million students over the last 50 years. Scholarship America's programs, which include Dollars for Scholars®, help fund both entry-level and multi-year scholarships, as well as emergency financial grants. More information is available at www.scholarshipamerica.org.

SOURCE Scholarship America

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