MOHELA's Foundation Awards Record Level of Financial Support to Missouri Students in 2023-2024

Foundation Continues its Mission to Expand Access to Affordable Higher Education through its Scholarships, Grants and Zero-Interest Loans Programs

ST. LOUIS, Dec. 30, 2024 /PRNewswire/ -- MOHELA, a non-profit governmental corporation dedicated to helping the student loan borrowers it serves, continued to fulfill its commitment to Missouri communities through the work of its Foundation, the Missouri Scholarship & Loan Foundation (the "Foundation"). Established by MOHELA in 2010, the Foundation aims to enhance accessibility and affordability of higher education for Missouri families.

"We are incredibly proud of the Foundation's impact in supporting students across Missouri during the 2023-2024 academic year," said Melissa Findley, Executive Director of the Missouri Scholarship & Loan Foundation. "Through our student-focused scholarships, grant programs, and zero-interest loan, we continue to ensure that students in our communities have access to affordable pathways for higher education as they pursue their academic goals year after year."

During the 2023-2024 academic year, MOHELA's Foundation:

• Provided over $6.82 million in scholarships and grants to Missouri students – marking a record level in scholarship and grant awards.
• Disbursed more than $4.5 million in zero-Interest loans through the Missouri Family Education Loan Program (MOFELP), which provides financial support to Missouri students who need assistance covering college costs.
• Committed over $2 million in promised scholarships to students in the My Missouri Scholarship Promise (MyMO) Program, which supports high school freshmen from low-income backgrounds in preparing and saving for college throughout high school. Students who meet program benchmarks by their senior year receive a scholarship to attend any eligible Missouri college. Additionally, families who are part of the program open and contribute to a 529 savings plan receive funds to their account from the Foundation.
• Awarded $874,050 in Mission-Impact Grants to non-profit organizations throughout the state to extend the reach of the Foundation to more Missouri students by increasing access to and completion of higher education through the projects and programs of the organizations awarded.
• Contributed $92,203 to help support 110 educational FAFSA events and projects hosted in 70 counties across Missouri through the Mission-Mini Grant Program, helping students access critical financial aid by completing the FAFSA. These community events and projects help to boost FAFSA completion and educate Missouri families to better understand the FAFSA process.

MOHELA also contributed more than $6 million to support Missouri programs, including Access Missouri, Missouri's A+ Program, and Bright Flight, further bolstering student scholarship and grant initiatives in the state.

"Our mission has always been to support students and their families, and the work of our Foundation underscores MOHELA's commitment," said Scott Giles, Executive Director and CEO of MOHELA. "From awarding record-level scholarship funding and providing zero-interest loans, to supporting community events that educate families about higher education access and affordability, MOHELA's Foundation is making a positive difference in our communities and helping to change lives."

For more information on the Foundation and its contributions to Missouri, please visit: https://www.moslf.org/programs.aspx

About MOHELA
MOHELA is a non-profit, governmental corporation with 40 years of experience and a track record of providing exceptional customer service to the borrowers it serves. MOHELA plays an essential role in the student loan ecosystem, providing support and assistance for around 9 million borrowers.

SOURCE MOHELA