Posted at 4:24 a.m., Tuesday, July 31, 2007
Hawaii residents get $489,750 in scholarships
News Release
INDIANAPOLIS, July 31 /PRNewswire/ -- USA Funds(R), the nation's leading education-loan guarantor, announces the award of $489,750 in scholarships to help 329 low-to-moderate-income Hawaii residents pursue higher education.USA Funds awarded $180,000 in scholarships to 120 Hawaii residents who are first-time recipients of USA Funds Access to Education Scholarships(R) for the 2007-2008 academic year. In addition, USA Funds awarded $309,750 in renewal scholarships to 209 Hawaii residents who previously had received awards under the program.
"Consistent with USA Funds' nonprofit mission to enhance higher-education preparedness, access and success, we are pleased to help these students pay for postsecondary education," said Henry L. Fernandez, USA Funds executive director, access and outreach. "During the past six years, USA Funds' national scholarship program has awarded more than $42 million in scholarships to more than 13,000 students nationwide."
To qualify for the scholarships, students must come from households with annual incomes of $35,000 or less. Full-time and half-time undergraduate students, as well as full-time graduate and professional students, are eligible for $1,500 scholarships.
If a scholarship recipient maintains a grade-point average of at least 2.5, the scholarship may be renewed annually until the student receives a degree or certificate, or the total amount awarded reaches $6,000, whichever comes first.
For a list of first-time USA Funds Access to Education Scholarship recipients for 2007-2008, visit http://www.usafunds.org/scholarship.
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 http://www.usafunds.org/.
