PND News - USA Funds Awards $8.2 Million in Scholarships to Low-to-Moderate-Income Students

PND News - USA Funds Awards $8.2 Million in Scholarships to Low-to-Moderate-Income Students

Indianapolis-based student loan guarantor USA Funds has announced scholarships totaling more than $8.2 million to help 5,497 low-to-moderate-income students nationwide pursue higher education.

In this round of funding, $3.5 million was awarded to 2,334 first-time recipients of USA Funds Access to Education Scholarships for the 2006-2007 academic year. In addition, $4.7 million renewal scholarships were awarded to 3,163 students who previously had received awards under the program.

To qualify, 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 the $1,500 scholarships. Recipients who maintain a grade-point average of at least 2.5 on a 4.0 scale may have their scholarship renewed annually until the student receives a degree or certificate, or the total amount awarded reaches $6,000, whichever comes first.