INDIANAPOLIS, Feb. 18, 2014 (GLOBE NEWSWIRE) -- USA Funds® has issued its annual report, "Success by Degrees," which highlights the nonprofit organization's support of national efforts to improve the rates of student success in postsecondary education during USA Funds' last fiscal year.
The report, available from annualreports.usafunds.org, includes highlights of the following initiatives:
• Financial literacy and student success. Nearly 60,000 students at 200 colleges and universities benefited from USA Funds Life Skills®, a financial literacy and student success curriculum.
• Student loan repayment success. More than 650,000 student loan borrowers in repayment benefited from counseling and assistance through USA Funds Borrower Connect™ and USA Funds Borrower Connect InTouchSM.
• Financial aid eligibility. USA Funds-supported programs helped 90,000 students and parents file the Free Application for Federal Student Aid, the form necessary to qualify for federal and other sources of student aid for college.
• Support to help disadvantaged students graduate from college. Participants in three nonprofit college success organizations are receiving enhanced support to encourage them to complete their studies, as a result of a $1.6 million USA Funds grant program.
• Student loan default prevention consultation. USA Funds consultants helped 84 colleges and universities develop or implement plans to combat student loan defaults.
The report provides the following examples of how USA Funds promoted college success during the year:
• USA Funds' support helped On Point for College, a nonprofit college success organization in Syracuse, N.Y., assist inner-city, first-generation students and adult learners through key transition points in higher education.
• USA Funds' student loan borrower counseling services contributed to a reduction in the student loan default rate at Garrett College in western Maryland and helped its graduates better manage their loans.
• USA Funds' personal financial education curriculum helped students at St. Philip's College in San Antonio, Texas, better balance studies, work and family life.
• San Diego City College's participation in USA Funds' annual symposium and funding from USA Funds improved the experience for its first-year students, thereby enhancing their prospects for success in college.
• A partnership between USA Funds and Get Schooled assisted students at a high school in the Bronx, N.Y., in qualifying for financial aid for college.
Building on the results of the past year, USA Funds will focus on enhancing postsecondary education "completion with a purpose."
"We believe that making the connection between postsecondary education and a student's future following graduation is essential," said William D. Hansen, USA Funds president and CEO. "Going forward, USA Funds will support charitable activities and services that promote students' attainment of postsecondary credentials and competencies leading to productive and rewarding careers and enabling them to make economic, civic and creative contributions to their communities and to society."
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. USA Funds provides grants to support initiatives that improve student access to and success in higher education, and serves colleges and universities with financial literacy programs for college students, debt management and default prevention consultation and support, training for financial aid administrators, and student aid policy compliance assistance. For more information, visit www.usafunds.org.
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=23665
