USA Funds Awards $400，000 to National Scholarship Groups

　　INDIANAPOLIS, Nov. 27 /PRNewswire/ -- USA Funds?, the nation''s leading education-loan guarantor, has announced the award of $400,000 in contributions to five national scholarship organizations that promote access to higher education for minority students. For the sixth consecutive year, USA Funds has awarded funds to the American Indian College Fund, the Hispanic Scholarship Fund and the United Negro College Fund. USA Funds also announced awards to the Thurgood Marshall Scholarship Fund and the Asian & Pacific Islander American Scholarship Fund.

    The contributions address the findings of a federal advisory committee, which reported that members of ethnic-minority groups will account for a large part of the future growth in the college-going population and that these students will have significant financial need.

    "Through the support of organizations like USA Funds, the United Negro College Fund is able to provide scholarships for African-American students," said Andrea Neely, UNCF area development director. "We are extremely grateful for USA Funds'' continued generosity in making sure that more African-American students will realize the dream of a college education."

    During the past six years, USA Funds has awarded more than $1.9 million to national scholarship organizations that promote higher-education access for minority students. The contributions complement USA Funds'' own national scholarship program, which this year provided more than $8.3 million in aid to assist students in financial need. Up to half of USA Funds'' scholarship awards go to students who are members of ethnic-minority groups or are physically disabled.

    In announcing the awards, Henry L. Fernandez, USA Funds executive director, access and outreach, said, "In keeping with our mission to promote access to higher education, we are pleased to support the scholarship programs of these outstanding organizations. These organizations are working to ensure that ethnic-minority students have the chance to realize their dreams of postsecondary education and the opportunity for greater success following graduation."

    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, 2007, USA Funds guaranteed education loans totaling $25.8 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.

    Source: USA Funds