In honor of President Barack Obama who gave the commencement speech earlier this week, and in response to Obama's challenge for the United States to once again have the highest proportion of college graduates in the world by the year 2020, Arizona State University is expanding its financial aid program to more Arizona families.

As a commitment to the national challenge to enhance college accessibility, ASU is expanding its most important financial aid program and renaming it the President Barack Obama Scholars Program. The program will provide funding for direct costs to all academically qualified Arizona freshmen from families that earn less than $60,000. Covered costs - minus expected family contribution - include tuition, fees, books, and room and board. Obama Scholars also will have a work-study campus job requirement as part of the total aid package.

The Obama Scholars Program more than doubles qualifying family income from $25,000 to $60,000 and more than triples the number of scholars from 500 freshmen this year to more than 1,600 freshmen entering ASU in fall 2009. The program will allow students to participate in aspects of the undergraduate experience critical to their success such as living in residence halls on campus, which increases their likelihood of finishing college. They also will have the opportunity to participate in a mentoring program.

A combination of financial aid resources that do not require repayment, including gifts, endowment proceeds and grants will fund the Obama Scholars Program.

Posted 05/15/09 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web site questions or comments to Web@NASFAA.org.