Educational Institutions

American Student Assistance (Massachusetts Higher Education Assistance Corporation)

  • Boston, MA
  • www.asa.org

Mission Statement

To assist students and parents in accessing and completing a program of higher education financing and repayment

Main Programs

  1. College Planning Centers
  2. College Planning Outreach Services
Service Areas

Self-reported

National

American Student Assistance helps aspiring, current and former students nationwide navigate the financing and repayment of higher education. However, our local College Planning Programs are currently limited to Boston, Brockton and Chelsea, Massachusetts.

ruling year

1958

Principal Officer since 1996

Self-reported

Mr. Paul C. Combe

Keywords

Self-reported

ASA, SALT, (higher) education debt management, college planning, financial education/literacy

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Also Known As

American Student Assistance

EIN

04-2254705

Contact

Cause Area (NTEE Code)

Higher Education Institutions (B40)

Scholarships, Student Financial Aid, Awards (B82)

Financial Institutions/Services (Non-Government Related) (W60)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

2012 Accomplishments Launched multi-channel financial empowerment membership program (SALT) for aspiring, current and former college students.Through proactive outreach and counseling for borrowers preserved the individuals' credit, improved their ability to participate in other consumer activities that fuel the U.S. economy.Helped nearly 20,000 defaulted student loan borrowers rehabilitate their loans and repair their credit.Through our College Planning Services, assisted 20,000 adults and students in Greater Boston and Brockton plan for and apply to postsecondary eduaction programs and identify and apply for sources of financial aid for higher education. 2013 Goals Give families someplace to turn for open and well-informed conversations about college financing options.Help academically prepared students and their families make the college of their dreams the college of their means.Use the student loan process as a teachable moment to raise the financial IQ of the next generation: Take students from ""I don't know"" to ""I'm in control"" on their student loans.Ensure every student borrower has an advocate—throughout college and beyond—for counsel or advice on their loans.Deliver quality advice and assistance on planning and paying for college.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

College Planning Centers

Provides free one-to-one college planning advice and assistance in multiple languages to young people and adults, targeting individuals from low-income backgrounds, who are first generation to college and under-represented in programs of postsecondary education. Specific assistance includes: completing admissions and financial aid applications for postsecondary education programs, the Free Application for Federal Student Aid (FAFSA), CSS Profile, and scholarships; helping those individuals wishing to reenter and complete postsecondary education including handling outstanding student loan debt, helping those wishing to gain secondary school credentials so they can pursue postsecondary education, and providing SAT, ACT, and college application fee waivers for eligible individuals. Main location: Boston Public Library and Brockton. Clients also seen by appointment at numerous libraries and community-based centers throughout the Boston and Brockton. Serves approximately 10,000 annually.

Category

Education, General/Other

Population(s) Served

Poor/Economically Disadvantaged, Indigent, General

Adults

Youth/Adolescents only (14 - 19 years)

Budget

550,000

Program 2

College Planning Outreach Services

Provides free workshops, group, and individual advising sessions on planning and paying for college throughout greater Boston and Brocktonthrough participation at college and job fairs, community and church events, local schools, branch libraries, and community and civic organizations. Experienced financial aid advisors provide free telephone assistance with financial aid questions via a toll-free education hotline 1-877-ED-AID-4U. An annual financial aid awareness campaign is undertaken in January reminding families that it is time to complete the Free Application for Federal Student Aid (FAFSA) and directing them to call the toll free number or visit the College Planning Center for assistance. Provides free ebook: Attend Your Dream College - a college planning guide for students in 9th-12th grades; How To Make College Affordable a guilde for financial aid, and Apply On Time Details and Deadlines for Massachusetts Colleges an annual publication that includes deadlines and admissions requirements for each Massachusetts public and private college and university.

Category

Education, General/Other

Population(s) Served

Poor/Economically Disadvantaged, Indigent, General

Youth/Adolescents only (14 - 19 years)

Adults

Budget

$150,000.00

Service Areas

Self-reported

National

American Student Assistance helps aspiring, current and former students nationwide navigate the financing and repayment of higher education. However, our local College Planning Programs are currently limited to Boston, Brockton and Chelsea, Massachusetts.

Funding Needs

In 2012 ASA assumed management of a series of local College Planning Programs to ensure they continue as a vital community service. Based in local schools, libraries and community centers throughout Boston, Chelsea and Brockton,these Programs help young people and adults from all backgrounds navigate the process of applying to and paying for higher education. These services improve college preparation, enrollment, and success, with a particular emphasis on students often underrepresented in higher education. Our most pressing needs are associated with the following programs: * Success Boston -$145,000 needed to provide transition support to Boston Public School graduates as they move on from high school to Boston-area colleges, including individual assistance with the financial aid process, course registration, and other challenges. * College Planning Centers -$125,000 needed to provide free one-on-one guidance and resources to help students prepare for standardized tests, select and apply to colleges, and find financial aid resources.

Accreditations

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

MASSACHUSETTS HIGHER EDUCATION ASSISTANCE CORPORATION
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

American Student Assistance (Massachusetts Higher Education Assistance Corporation)

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair, Board Co-Chair and Board Members
  • Access to the GuideStar Community
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Principal Officer

Mr. Paul C. Combe

BIO

Paul C. Combe is the President and CEO of American Student Assistance®, a nonprofit aimed at empowering students before, during and after college to make better decisions around planning for, financing, and repaying higher education. Under Paul's leadership, ASA has focused on helping students and alumni access and successfully complete a program of higher education financing and repayment,through direct counseling and an educational program called ""SALT™"". ASA's program uses student loans and the higher education financing experience as a series of teachable moments to develop financial competencies. Since joining ASA®in 1996, Paul has led the organization through a process of strategic change and renewal that repurposed its focus from the traditional guarantor role to student loan "wellness" -- proactively engaging student loan borrowers to prevent repayment problems before they begin, thereby inspiring their long-term financial success and good credit standing. Through the successful implementation of its Wellness initiatives working under a special agreement with the Education Department, ASA helped borrowers avert over $120 million of loan defaults between 2001 and 2008; increased the number of loans in good standing in its portfolio; and consistently achieved delinquency and default rates lower than the national average.Throughout his tenure at ASA, Paul has advocated for the role of proactive, objective, nonprofit education debt management and borrower advocacy services in the federal student loan program. Prior to joining ASA, Paul served as president and CEO of both Knight College Resource Group and the Massachusetts Educational Financing Authority. He also served as Director of Financial Aid at Boston College. Paul received his Bachelor of Arts and Master of Education Degrees from Framingham State College. He has spoken at numerous industry events and conferences, as well as before members of Congress on making student debt more manageable.

Governance

BOARD CHAIR

Ms. Dione D Kenyon

President and CEO of The Jewelers Board of Trade

Term: Oct 1999 -

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?