Grant will help low-income students in Arizona pursue higher education

INDIANAPOLIS - USA Funds^®, the nation's leading education-loan guarantor and the designated guarantor of federal student loans in Arizona, has announced the award of a $100,000 grant to help increase academic access and success for Arizona students pursuing a postsecondary education. USA Funds awarded the grant to the Arizona College Scholarship Foundation, a nonprofit organization made up of Arizona business and community leaders, elected officials, foundations, and education and community-service leaders. The foundation is committed to making college a reality for Arizona students through scholarships and mentoring programs for low-income, high-potential students attending Arizona colleges or universities. The grant will help fund the ACSF Scholars program.

"These scholarships support USA Funds' nonprofit mission to enhance postsecondary-education preparedness, access and success," said Henry L. Fernandez, USA Funds executive director of scholarships, outreach and philanthropy. "We are extremely pleased to partner with ACSF to improve the college-going rates of lower-income students in Arizona."

According to research reports, the need for financial assistance for students in Arizona is great. Arizona ranks among the five-lowest states in terms of state-funded financial assistance for students pursuing higher education. The participation rate of low-income Arizona residents in postsecondary education is less than 16 percent, and Arizona has the fifth-lowest percentage of citizens with baccalaureate degrees.

In addition to scholarship funding, ACSF provides mentoring services to students throughout the various stages of their education. ACSF works with established organizations that serve high-risk children to provide early postsecondary-education awareness and mentoring. The foundation also coordinates with organizations that provide college-preparatory training and application information for students.

At the college level, ACSF provides a network of on-campus support services to ensure scholars' success. Each ACSF Scholar is paired with an on-campus mentor, receives bimonthly coaching from ACSF staff, attends regular group trainings and is connected with on-campus resource centers. As upperclassmen, each scholar is paired with a professional mentor who provides advice and opportunities for job shadowing and internships.

"We know that money alone will not create college-bound students," said Martha Harmon, Arizona College Scholarship Foundation CEO. "That's why ACSF not only provides much-needed financial assistance for low-income, college-bound students, but also targets these students at an early age through mentoring programs that nurture and encourage them to pursue their dreams."

For additional information about ACSF programs visit www.azcsf.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. During the year ending Sept. 30, 2006, USA Funds guaranteed education loans totaling $27.3 billion for students and parents throughout the nation. USA Funds serves as the designated guarantor of federal education loans in eight states: Arizona, Hawaii and the Pacific Islands, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming. USA Funds also invests more than $16 million annually in scholarships and outreach programs that advance its mission of support to higher education. For more information about USA Funds, visit www.usafunds.org.

Posted 04/18/07 to www.NASFAA.org. Posting of information in Constituent News is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.