AARP FOUNDATION ANNOUNCES 2nd ANNUAL WOMEN’S SCHOLARSHIP PROGRAM

News Release

July 16, 2008

The AARP Foundation today announced a call for entries to its second annual Women’s Scholarship Program. The scholarships will provide funds to women 40+ who are seeking new job skills, training and educational opportunities to support themselves and their families.

“The AARP Foundation is pleased to be offering the Women’s Scholarship Program again this year,” said Robin Talbert, the Foundation’s President and Executive Director. “AARP Foundation is committed to elevating opportunities for women. Last year, we were able to provide valuable resources that enabled 74 deserving women to have access to the educational tools to advance their professional goals.”

While many individuals benefit from the work of the AARP Foundation, research shows that women are disproportionately at risk of having insufficient resources in the second half of their lives due to lower earning and different work patterns. The AARP Foundation first announced the Women’s Scholarship Program in August of 2007 to help women 40+ overcome financial and employment barriers by allowing them to participate in education and training opportunities they could otherwise not afford.

The scholarship program is made possible by AARP, with generous support from Bank of America and the AARP Foundation Women’s Leadership Circle (WLC). The Women’s Leadership Circle is a national network of volunteer leaders that champion and provide direct support to AARP programs, including the Women’s Scholarship Program.

The AARP Foundation Women’s Scholarship Program is available to eligible individuals with moderate to lower incomes and limited financial resources.

To be eligible for the scholarships, applicants must:

• Be female age 40 or over (as of August 31, 2008);

• Be able to demonstrate financial need; and

• Be enrolled in an accredited post-secondary school or training program within 6 months of the scholarship award date.

Priority consideration is given to women in three categories: 1) women raising children of another family member (such as grandparents raising grandchildren, or those raising siblings or nieces/nephews); 2) women who have been out of the workforce for an extended period of time; and 3) women in dead end jobs (those with no opportunity for advancement, low pay and lacking either health or retirement benefits).

Scholarships may be used for any course of study at a public or private secondary school, including community colleges, technical schools, and four-year universities. The program does not provide assistance for graduate degree programs. It seeks women who are entering two to three year technical or skills enhancement programs, or who are in the final stages of their college experience. Funds are payable to the institution and may be used to pay for tuition, fees, and books.

Interested applicants can submit their application online beginning July 1, 2008 at http://www.aarpfoundationwlc.org. The application process closes on August 22, 2008 and scholarships will be awarded in early 2009.

Scholarship winners will be chosen by an independent selection committee established by the AARP Foundation. They will be chosen on the basis of financial need, personal circumstances and achievements, educational goals, and the likely impact of the scholarship on their lives and their families and communities. The Foundation will award up to 100 scholarship awards ranging from $500 to $5,000, depending on financial need and the cost of the education or training program.

AARP Foundation: The AARP Foundation is AARP’s affiliated charity. Foundation programs provide security, protection and empowerment for older persons in need. Low-income older workers receive the job training and placement they need to re-join the workforce. Free tax preparation is provided for low- and moderate-income individuals, with special attention to those 60 and older. The Foundation’s litigation staff protects the legal rights of older Americans in critical health, long-term care, consumer and employment situations. Additional programs provide information, education and services to ensure that people over 50 lead lives of independence, dignity and purpose. Foundation programs are funded by grants, tax-deductible contributions and AARP. For more information about the AARP Foundation, please log on to www.aarp.org/foundation.

FOR IMMEDIATE RELEASE

  New York Money Management Needs Assessment Research Report

     Nearly two-thirds of organizations surveyed believe there is a major or moderate need for a money management program for their client population. This level of need was expressed by organizations across the state as well as in New York City.

       Two in five (40%) organizations, statewide and in New York City, indicated that in an average month up to ten people are referred to their organization for money management help due to mental, physical, or social limitations. Nearly one in five (17%) organizations indicated that in an average month more than ten clients are referred or seek assistance because of these limitations. In New York City, the proportions are the same (18%).

       If additional resources were available, more than half (56%) of statewide service providers would be extremely or very likely to expand their money management services. Five out of the eleven New York City providers said they would be willing to do so.

       Seven in ten organizations, statewide and in New York City, strongly or somewhat agreed that trained, supervised, monitored, and insured volunteers can provide quality money management assistance.

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• Require credit reporting agencies to place a security freeze on an individuals’ credit report within 24 hours of receiving notice  

• Require credit bureaus to "thaw" a consumer's credit file within 15 minutes of receipt of the request.

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