University allows alumni to nominate students for scholarship

University allows alumni to nominate students for scholarship

Despite the state of the economy, Sallie Mae - a provider of student loans - reports that more than $168 billion in financial aid was available during the 2008-2009 academic year. Now could be an excellent time to return to school, as earning higher education may improve future job prospects.

Schools such as the University of Phoenix are creating unique financial aid programs in order to assist those who wish to earn a degree. The school recently launched the Paying It Forward Scholarship campaign, which allows University of Phoenix alumni to nominate family members, friends, colleagues or community members for one of 30 full-tuition financial aid packages.

The school's 560,000 alumni are encouraged to participate in this initiative, which was launched in honor of the university's 30th anniversary. Since that time, more than 120 Paying It Forward Scholarships have been awarded.

Loren Erman is a recipient of one of the 2009 awards. He was diagnosed with a disorder that involves fine-motor skill problems, as well as learning disabilities and ADHD. Now, Loren is earning a teaching degree with a focus on special education.

By Mark Danson