The Arkansas Student Loan Authority was established in 1977 by the Arkansas General Assembly under the leadership of former Governor David Pryor to ensure access to education funding for Arkansas students. Student Outreach Services (S.O.S.) provide a number of services that focus on assisting students in preparing and paying for college. These services include: • Financial aid counseling and educational materials; • Free scholarship searches provided to any Arkansan interested in higher education; • $25,000 in scholarships granted each year through the R.Preston Woodruff Jr. Scholarship; • Participation in more than 100 financial aid workshops and high school college fairs statewide each year. ASLA’s Origination Fee Reduction subsidizes 1 percent of the origination fee for students receiving Federal Stafford loans. ASLA’s Honor Roll Program reduces interest rates by 3 percent on Federal Stafford and Federal PLUS loans. The Arkansas EdLoan for Critical Careers in Arkansas program targets critical personnel shortages in Arkansas, lowering the interest rate by three percentage points for individuals who participate in shortage areas.

Assisted Parent PLUS Loans programs help ease the debt burden for parents. Participating schools pay the interest on loans while students are still in school. Parents assume a level payment plan during the four years of college and thereafter which enables them to prepare a long range budget. Students can log on to www.asla.info for an extensive online network of college planning and financial aid resources with tools and detailed information about how to pay for college. ASLA offers online billing and payment for the convenience of all borrowers, as well as school-specific electronic processing to facilitate the process. ASLA will fund more than $150 million in student loans with private capital in 2006. ASLA employs a staff of 22 people in Little Rock to provide education loan services and college planning counseling. These services will provide over $1 million in direct benefits to Arkansas families in 2006. “On a daily basis we confirm our commitment to improving access to higher education through our many services and our financial commitment,” said Tony Williams, president of the ASLA.