USA Funds Report Details Vision for Higher Education Access and Success

INDIANAPOLIS, Feb. 1, 2011 /PRNewswire/ -- USA Funds® has issued its 2010 annual report, "Vision," describing its continued commitment to work as a national leader in helping American families benefit from higher education. The report describes how USA Funds will realize its vision through the following three channels of activity:

Access and Outreach. During the past decade, USA Funds awarded more than $100 million in grants to nonprofit organizations and student scholarships to advance its mission in support of postsecondary education preparedness, access and success. During 2010 USA Funds revamped its grant-making process, organized a panel of outside advisers and launched a multimillion dollar grant program to promote student success in higher education. The annual report highlights the following two examples that illustrate USA Funds' support of higher education access and outreach initiatives:

• A sophomore at Indiana University-Purdue University Indianapolis benefited from USA Funds' support of the Indiana Latino Scholarship Fund through college preparation programming and scholarships. While he pursues a bachelor's degree, this student also plays an active role in campus housing government, mentoring other students and volunteering in the larger community.

• USA Funds' support of the Advancement Via Individual Determination program in the Wichita, Kan., Public Schools helped expand tutoring to some 150 additional students. A national initiative, AVID helps students who are in the academic middle but have the motivation to pursue education after high school.

School and Student Services. During 2010 USA Funds organized a new division to continue to deliver products, services and programs valued by postsecondary education institutions. Staffed by experienced consultants to higher education, customer support experts and financial aid training specialists, USA Funds supports financial literacy, debt management, default prevention, student aid program compliance and related services. As examples of USA Funds' support of school and student services the report highlights the following two activities:

• Syracuse University's Office of Financial Aid and Scholarship Programs incorporates the USA Funds Life Skills® financial literacy curriculum as part of a multifaceted program designed to promote lifelong fiscal fitness for all students.  The university provides access to USA Funds Life Skills lessons in several ways, including through the financial aid office website, through presentations in residence halls, and through programs for incoming students and those transitioning to graduate school.

• Training services from USA Funds University have helped Rasmussen College's 21 campuses standardize their approach to administering student financial aid. Last year Rasmussen financial aid professionals took advantage of nearly 1,200 online training course sessions and registered nearly 1,100 times for webcast training from USA Funds.

Student Loan Guarantor Services. USA Funds continues to administer more than $90 billion in outstanding federal student loans and invests in services that help former students and their parents successfully repay their college debt. The report describes the following two services that demonstrate USA Funds' continued support of its role as a student loan guarantor:

• USA Funds' default prevention services helped a borrower resolve payment problems with her more than $63,000 in outstanding loans. Counseling supported by USA Funds directed the borrower to the income-based repayment option, which provided her with a monthly loan payment she could afford.

• USA Funds' ombudsman tackles issues from student- and parent-borrowers who have been unsuccessful in obtaining resolutions from schools, lenders, collection agencies or guarantors. During 2010 the ombudsman worked to resolve nearly 200 borrower issues.

"Last year's dramatic changes in federal financial aid policy prompted us to refocus and renew our commitment to ensuring that every student has opportunity to benefit from postsecondary education or training," said Carl C. Dalstrom, USA Funds president and CEO. "With the foundation of a clear vision now in place, we are building on the programs, products and services we support to help students reap the rewards of higher education."

To view the USA Funds 2010 annual report online, visit www.usafunds.org/Media/Annual Reports/2010annual.pdf on the USA Funds website.

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