Strada Education Foundation
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| Formerly | Strada Education Network |
|---|---|
| Company type | Nonprofit organization |
| Industry | Education |
| Headquarters | Indianapolis, Indiana |
Key people |
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| Website | https://stradaeducation.org/ |
Strada Education Foundation is a non-profit organization focused on strengthening connections between education and employment.[1][2] The organization conducts research into what American adults value about postsecondary education, makes investments in companies with similar missions, and awards grants to organizations working to achieve the same goal (improving the paths between education and work).[2][3] This includes grants for education and training programs at four-year universities and community colleges.[4] Strada's headquarters is in Indianapolis, Indiana, and the nonprofit has an additional office in Washington, D.C.[2]
History
[edit]Established by Richard Cornuelle[5] in Indianapolis in 1960 to help families finance rising college costs, USA Funds has grown to become the nation's largest guarantor of loans made under the Federal Family Education Loan Program (FFELP), the main federal source of financial aid for higher education. During the past 44 years,[when?] the USA Funds guarantee has covered just under $115.5 billion in financial aid for higher education, for 13.6 million students. The corporation is affiliated with regional non-profit student loan guarantors, including SMS Hawaii (for Hawaii) and the Northwest Education Loan Association (NELA) (for Idaho and Washington). USA Funds guarantees education loans nationwide, and is also the designated guarantor of federal education loans in eight states: Arizona, Hawaii and the Pacific Islands, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming. The Thurgood Marshall College Fund, aiding public historically black colleges and universities is an affiliate of the Strada Education Network.[citation needed]
Before 2017, Strada Education Foundation was known as United Student Aid Funds, and was a guarantor of student loans.[3] In December 2016, the organization stopped operating in this area, offloading its guarantor business to Great Lakes Higher Education Corp.[3] In March 2017, United Student Aid Funds changed its name to Strada Education Network.[6]
By 2019, the nonprofit had acquired four organizations to help its mission:
- Council for Adult and Experiential Learning (CAEL): an organization that provides adult career advising and other services[2]
- Education at Work: provides paid work opportunities for college students[2]
- InsideTrack: provides student coaching services[7]
- Roadtrip Nation: a program and website featuring interviews from a wide range of people with the purpose of providing career advice[2]
The State Opportunity Index was released in April of 2024. The report finds that states excel in affordability and outcome tracking but lag in career coaching, work-based learning, and employer alignment. It urges better collaboration to improve job outcomes, highlighting that internships and coaching reduce underemployment. Experts hope it drives policy changes for workforce readiness.[8]
Affiliation with Sallie Mae
[edit]USA Funds contracts with affiliates of Sallie Mae, the largest guarantor-servicing organization, to deliver some of the services necessary to support USA Funds' guarantee.
Before July 31, 2000, USA Funds was an affiliate of USA Group. USA Funds contracted with other USA Group affiliates to these lenders contract with Sallie Mae for servicing and loan acquisition; others have no contractual relationships with Sallie Mae. Post-secondary institutions and their students are free to choose the lenders with which they wish to work while using the USA Funds guarantee.
References
[edit]- ^ Marcus, Jon (2020-04-23). "Will the Coronavirus Forever Alter the College Experience?". The New York Times. ISSN 0362-4331. Retrieved 2025-02-19.
- ^ a b c d e f Ark, Tom Vander. "How Strada Education Network Is Promoting Pathways To Good Jobs". Forbes. Retrieved 2025-02-28.
- ^ a b c Andrews, Greg (2021-04-16). "Key departures likely mean new strategy for Strada Education Network". Indianapolis Business Journal. Retrieved 2025-03-14.
- ^ "ASU, Rio Salado Community College get $1.5M grants". KJZZ. 2023-01-21. Retrieved 2025-03-07.
- ^ Harris, T. George. 1964. "A New Conservative Manifesto." Look 28(26): 19-23. December 29. Page 21.
- ^ Fain, Paul. "USA Funds Becomes Strada Education". Inside Higher Ed. Retrieved 2025-03-14.
- ^ Lederman, Doug. "InsideTrack Becomes Part of Strada". Inside Higher Ed. Retrieved 2025-03-20.
- ^ Blake, Jessica. "Rating States' Work on Post-College Outcomes". Inside Higher Ed. Retrieved 2025-03-27.