For the 2007-2008 academic year, Midwestern University will provide $1.75 million to incoming and returning students through its Need-Based Scholarship Program. A total of 500 students from each of the University's five colleges in both Downers Grove, IL, and Glendale, AZ, will receive $3,500 based on their demonstrated financial need. This scholarship has been recognized this week by both the Illinois Board of Higher Education (IBHE) and the National Association of Student Financial Aid Administrators (NASFAA).

The IBHE has listed MWU's program on its web site as a "Featured Effective Practice" (http://www.ibhe.org/EffectivePractices/Featured/default.asp). The Board defines effective practices as those that have measurable outcomes, are sustainable, and are applicable to other institutions. The NASFAA also reported this recognition on its web site (http://www.nasfaa.org/publications/2007/cnmwu071807.html), to reflect the organization's support of MWU's program.

At MWU, we are very proud of our Office of Student Financial Services and the support they provide to our students in helping fund their education. This Office has created special education programs to help health professions students learn how to better manage their credit histories, their loans, and their future financial planning. As a University, we understand the significant investment that is required to pursue our academic programs. We are likewise proud of the financial aid services we provide to help you meet your goals.

In addition to the Need-Based Scholarship Program, MWU offers zero origination fees to all graduate-level borrowers. Since 2002, the University has paid on behalf of its student borrowers over $6 million in origination fees. The statistics we are probably most proud of is that MWU's student loan default rate is consistently less than 0.5% of all borrowers. This demonstrates that our graduates are able to pay back their loans.

While this entry is certainly me "tooting the University's horn," so to speak, I am personally very proud to be part of an organization that takes seriously its commitment to provide opportunities for students to pursue their dreams of becoming a health care provider. Our successful Need-Based Scholarship Program is a tangible example of our University's institutional values and character. We know that the 500 students (which is more than 15% of our total student body) who receive the $3,500 scholarship will be better able to manage their finances both as students and after they graduate.

We are proud and appreciative that two external agencies have also recognized this scholarship program. And we are especially proud and appreciative of our financial aid professionals who help administer this program and who serve our students each and every day in this important role.