USA Funds president and CEO to retire by June 30, 2013

INDIANAPOLIS, Aug. 7, 2012 /PRNewswire/ -- USA Funds^® President and CEO Carl C. Dalstrom has announced that he will retire from the nonprofit college access and success organization, effective June 30, 2013. Dalstrom will continue to lead USA Funds as its chief executive until his successor begins work on or before next June 30.

Dalstrom, 62, has served as USA Funds president and CEO since July 31, 2000.

"Working with our board of trustees, staff and partner organizations, we've accomplished more than I hoped for USA Funds when I became the chief executive of the organization 12 years ago," Dalstrom said. "We have established a solid foundation for USA Funds' future as a major contributor to student success in higher education for many years to come, and the time is right for me to move into retirement."

During Dalstrom's tenure as president and CEO, USA Funds has achieved the following results:

• USA Funds supported more than $183 billion in financing to help students and parents pay higher education expenses.
• USA Funds prevented nearly 13.6 million borrowers who were 60 days or more past due in their federal student loan payments from defaulting, averting nearly $187 billion in potential loan defaults. USA Funds also recovered for U.S. taxpayers nearly $12 billion from borrowers who previously defaulted on their loans.
• USA Funds provided $120 million in funding for scholarships and other programs that help Americans prepare for, enroll in and succeed in postsecondary education.
• USA Funds developed tools, solutions and support that help colleges and universities promote the success of their students. These solutions include:
  • USA Funds Borrower Connect^™, a Web-based tool to support communication with student loan borrowers to promote successful loan repayment.
  • USA Funds Life Skills^®, a financial literacy curriculum for college students.
  • Online training and webcasts through USA Funds University to keep college financial aid administrators up to date on the policies, procedures and practices for administering federal student aid programs.
  • USA Funds Ask Policy^SM, a resource to answer specific questions about the administration of federal student aid.
  • Debt management consultations with college and university administrators to help them develop or enhance plans for reducing student loan default rates.
• USA Funds has, for the last 11 years, sponsored or hosted an annual symposium for leaders and other administrators of minority-serving institutions and other under-resourced postsecondary institutions to share best practices in college access, student persistence and success, and student loan debt management.

Following the organization's executive succession plan, the USA Funds board of trustees will soon begin a nationwide search for Dalstrom's successor.

"Under Carl's leadership, USA Funds has made significant contributions to the goal of helping more Americans benefit from higher education," said Ernest Newborn II, chair of the USA Funds board of trustees. "We're delighted that Carl will continue to lead USA Funds while our search for his successor proceeds. As a result, we anticipate a smooth transition to new leadership."

Dalstrom has served for more than 42 years in various capacities in support of higher education access and success. Prior to becoming president and chief executive officer of USA Funds, he performed a variety of executive responsibilities at USA Funds and its former parent company, USA Group. Dalstrom previously held positions with ACT, the University of Illinois at Chicago and Northeastern Illinois University in Chicago.

Among the organizations that have recognized the work of Dalstrom and USA Funds in supporting education access and success are: the U.S. Dream Academy, which presented Dalstrom with its President's Award in 2007; Frontline Outreach, which honored Dalstrom as a corporate leader in promoting education access and outreach in 2007; and the American Indian College Fund, which named USA Funds its corporate honoree in 2005.

Dalstrom is chairing the Indianapolis regional United Negro College Fund fundraiser for the ninth consecutive year. UNCF twice has honored Dalstrom with its Corporate Shining Star Award.

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. For more information about USA Funds, visit www.usafunds.org.

SOURCE USA Funds