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MGSLP Increases Aid to Montana Students

In the midst of budget cuts and rising college costs, the Montana Guaranteed Student Loan Program (MGSLP) is proud to announce it will more than double this year’s MGSLP Grant amounts. MGSLP Director, Bruce Marks, surprised attendees at the recent Montana Financial Aid Association annual meeting with news that MGSLP Grants would be increased to $500,000 this year. Introduced two years ago, MGSLP funded these grants at $200,000 in 2004 and 2005.

By increasing the amount from $200,000 to $500,000, hundreds of additional students will have help paying for college. University of Montana Financial Aid Director, Mick Hanson, says the grant program has a big impact on Montana. “This money serves as a lifeline for our students, when other funds have dried up. Many times these grants make the difference in a student staying in school and graduating or dropping out and never returning.” Hanson says UM loses some students even after successful freshman or sophomore years because financial aid is not adequate to cover needs.

MGSLP allocates MGSLP Grants directly to financial aid offices at each school based upon undergraduate enrollment. All Montana schools participate in MGSLP Grants including MSU, UM, community colleges and tribal colleges. Financial aid offices award students at their discretion, although awards must be need-based. Marks is proud of what the grant program stands for. “ I believe the reason MGSLP exists is to increase access to postsecondary education. What better way to do that then to deliver real money to real students? It’s thanks to our strong partnership with our lenders and schools that we are able to give back to the students we serve.”

MGSLP is the designated guarantor of Federal Family Education Loans in Montana and is part of the Office of the Commissioner of Higher Education. Located in Helena, Montana, the agency also administers a variety of state, federal, and private grant and scholarship programs. MGSLP also administers the Montana College Savings Plan, as well as both the Montana University System Honor Scholarship and the Governor’s Postsecondary Scholarship Program. The grant and scholarship programs MGSLP administers are at no cost to Montanans.

Montana Guaranteed Student Loan Program

2500 Broadway

P.O. Box 203101

Helena, MT 59620-3101

Phone: (406) 444-6594

Fax: (406) 444-1869

Customer Assistance: (800) 537-7508

[email protected]

http://www.mgslp.org

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