$4.7 Million in Scholarship Funding Awarded to Missouri Students by MOHELA's Foundation
Access EXTRA Scholarship Program to Support 2,466 Local Students on their Higher Education Journey
St. Louis, MO - Nov. 7, 2024 - MOHELA, a non-profit, governmental corporation dedicated to helping the student loan borrowers it serves, announced the awarding of $4,700,000 in scholarship funding through its Foundation's Access EXTRA Scholarship Program. The funding will support 2,466 Missouri students during the 2024-2025 academic year. Earlier this month, the Foundation also announced $1,493,300 in additional scholarship funding for this academic year to support more than 320 Missouri students through its Purdy Emerging Leaders Scholarship Program.
"The Foundation is honored to award financial assistance for thousands of Missouri students as we fulfill our mission of making higher education more accessible and affordable," said Melissa Findley, Executive Director of the Missouri Scholarship & Loan Foundation. "Through our scholarship programs, such as our Access EXTRA Scholarship, we continue to do our part each year to ensure that higher education is within reach for all Missouri residents."
The Access EXTRA Program is a private scholarship offered by MOHELA's Foundation to high school seniors. It is available to Missouri residents with a Student Aid Index (SAI) of $12,000 or less. To qualify, students must have achieved a cumulative GPA of 3.50 or higher through at least seven semesters of high school and be enrolled full-time at an eligible Missouri public or private higher education institution. The scholarship is renewable for students for up to four years as long as they maintain a 2.50 GPA in college.
"At MOHELA, our commitment extends far beyond serving our borrowers; as a non-profit, we are committed to making a positive difference in our community." said Scott Giles, Executive Director and CEO of MOHELA. "Through our Foundation, MOHELA proudly gives back to our community by helping alleviate financial barriers that may hinder our state's next generation of leaders in their pursuit of higher education and academic success."
Recipients of this year's Access EXTRA Scholarship Program will be attending 58 public or private higher education institutions in Missouri during the 2024-2025 academic year.
Nevin N. from St. Louis, MO shared words of gratitude: "I just want to express my appreciation for this scholarship and the way it has helped me attend college for the past years. Every time I am calculating how college will get paid for and dividing the dollars based on the bill, the stress of the process reduces when I see the renewal award email. I really appreciate this help in my college education, and I do not know where I would be without it. I just want to express my thanks for your personal contribution to my success. Thank you for the aid."
Lily M. from Cape Fair, MO shared how this award impacts her: "Thank you for allowing me to receive the $2,000 Access EXTRA Scholarship so that I may continue my education! This funding means a lot to me; my family has always been low-income and us paying for college out-of-pocket was never even kind of an option, so it is incredible that I can have the opportunity to attend school and possibly even graduate debt-free due to the blessing of private scholarships. I am simply grateful for the ability to earn a bachelor's degree. I cannot wait to see what the future holds as I apply a hearty work ethic in college, just as I did in high school, and thank you again for helping keep my dreams alive!"
The Missouri Scholarship & Loan Foundation was established by MOHELA in 2010 to enhance accessibility and affordability of higher education for Missouri families. Through its Foundation, MOHELA provides grants, scholarships, and zero-interest loans to support students, families, local institutions, high schools, and nonprofit organizations in Missouri. Through 2018-2023 the Foundation assisted more than 8,500 Missouri students by distributing a total of $17.5 million in scholarships and grants, and $24.2 million in interest-free loans. For more information on the Foundation, please visit: https://www.moslf.org/programs.aspx.
About MOHELA
MOHELA is a non-profit, governmental corporation with 40 years of experience and a track record of providing exceptional customer service to the borrowers it serves. MOHELA plays an essential role in the federal student loan ecosystem, providing support and assistance for around 8 million federal borrowers on behalf of the U.S. Department of Education's Office of Federal Student Aid (FSA). The organization is frequently named a top servicer in FSA quarterly surveys due to its commitment to providing high-quality customer service to their borrowers.
In 2023, MOHELA, on behalf of FSA, helped 6 million borrowers enter repayment and facilitated over 3.1 million customer service calls. While serving as the interim PSLF servicer, MOHELA processed the largest amount of forgiveness-nearly $55 billion for 737,000 individual borrowers-by an FSA contractor in the history of the program.