This news came into the Tribune today:
At a time when an unprecedented number of Americans are struggling to save and pay for the ever-rising cost of college tuition, Upromise, a Sallie Mae company, is doubling financial support for its annual scholarship program. This year, the Upromise Scholarship will award a total of $500,000 in college aid to 200 students. Based on merit and need, the Upromise Scholarship was created to help Upromise members pursue a college education and is made possible by many of America’s leading brands, including lead sponsors, Bank of America and Bed Bath & Beyond®, and support from Canon U.S.A., Inc.’s eStore.com, Kaplan, Rewards NetworkSM and Sallie Mae.
According to the U.S. Census Bureau, the cost of college has more than doubled since 1990, with the average tuition, room and board at a four-year private college or university costing roughly $38,400 per academic year. With today’s economic challenges and more than 18.4 million students expected to attend the nation’s colleges and universities this fall, American demand for financial scholarships will be considerable.
“In these difficult economic times, Americans need all the help they can get to save and pay for college.” said David Rochon, president, Upromise. “This year, through the generosity of Upromise partners, we are delighted to double the Upromise Scholarship Fund and support twice as many students in their higher education dreams.”
“As Upromise members, my parents have received money for college tuition when they shop for groceries, clothing and even when they fill up on gas,” said Krista Grill, a senior at Baldwin Wallace College and recipient of the 2008 Upromise Scholarship. “Those savings combined with winning the scholarship made a big difference in helping my family and I pay for college this past year.”
To apply for this year’s Upromise Scholarship, students can visit upromise.com/scholarship and apply online by February 28, 2009. Applicants must meet the following requirements:
· Be a Upromise member or child of a Upromise member (joining is free at www.upromise.com)
· Have a household income of $65,000 or less
· Have a minimum cumulative grade point average of 3.0 on a 4.0 scale (or the equivalent)
· Be a high school senior or graduate who plans to enroll during the 2009-2010 academic year, or a student already enrolled in full-time undergraduate study at an accredited two-year or four-year college or university or vocational-technical school
· Be a U.S. citizen or legal permanent resident residing in one of the 50 U.S states or Washington, D.C.
Complete eligibility guidelines can be found at upromise.com/scholarship.
In addition, the U.S. Department of Education is currently accepting the Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov, which is crucial for students to complete to be eligible for federal financial aid for college. To help with college planning, Upromise.com offers free tools including links to Sallie Mae’s scholarship search, college savings plan options and tips on how to earn more Upromise college savings rewards.
