United Student Aid Funds or 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 links colleges, universities, proprietary schools, private lenders, students and parents to promote financial access to higher learning.
Established by Richard Cornuelle in Indianapolis in 1960 to help families finance rising college costs, USA Funds has grown to become the nation's largest guarantor of loans made under the Federal Family Education Loan Program (FFELP), the largest federal source of financial aid for higher education. During the past 44 years, the USA Funds guarantee has supported a total of nearly $115.5 billion in financial aid for higher education. USA Funds has served more than 13.6 million students and parents. SMS Hawaii, the nonprofit student-loan secondary market for Hawaii, is an affiliate of USA Funds. Another USA Funds affiliate, Northwest Education Loan Association, is a nonprofit guarantor that serves the Pacific Northwest. NELA is the designated guarantor for the states of Idaho and Washington. USA Funds guarantees education loans for students and parents throughout the nation. In addition, 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.
Read more about United Student Aid Funds: Affiliation With Sallie Mae
Famous quotes containing the words united, student and/or aid:
“In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds ... for it means that the most expensive restaurants are, with rare exceptions, the worst.”
—John Kenneth Galbraith (b. 1908)
“When I tried to talk to my father about the kind of work I might do after college, he said, “You know, Charlotte, I’ve been giving a lot of thought to that, and it seems to me that the world really needs good, competent secretaries. Your English degree will help you.” He said this with perfect seriousness. I was an A student at Bryn Mawr ...”
—Charlotte Palmer (b. c. 1925)
“I am willing to pledge myself that if the time should ever come that the voluntary agencies of the country together with the local and state governments are unable to find resources with which to prevent hunger and suffering ... I will ask the aid of every resource of the Federal Government.... I have the faith in the American people that such a day will not come.”
—Herbert Hoover (1874–1964)