2011-2012 ANNUAL REPORT ON FOUNDATION ACTIVITIES

SmartAboutCollege.org safmt.org The mission of Student Assistance Foundation is to provide students with the knowledge and tools to pursue and fund their postsecondary education.

We live our mission by reaching out to students and parents through a variety of programs and outreach services, appreciating the individual needs of the students we work with and encouraging their success.

Contents

Letter from the Chair...... 1

Acce$$ Grants...... 2

Circle of Succe$$ Scholarships ...... 3-5

College Goal ...... 6

KnowHow2GO Week...... 7

Campus Outreach...... 8-9

Foster Care...... 10-11

Golf Scramble...... 12

Graduation Matters...... 12

Contributor List...... 14

SAF: Positioning to Ensure Funding Streams for the Future...... 15

Financial Statements...... 16 Letter from the Chair

Student Assistance Foundation (SAF) was created because Montana students needed college access services to help them make their dreams of higher education a reality. More than a decade later, that need has not diminished, and SAF is working harder than ever to ensure Montana students have the information and tools to pursue and fund their postsecondary education.

So, it is with great pleasure that I can report to you that SAF delivered $1.25 million in Acce$$ Grants to Montana students through Montana schools during Fiscal Year 2011-12, awarded $63,000 in Circle of Succe$$ scholarships to deserving Montana students, and assisted 53,224 Montana students and families through our campus and community outreach offices. In addition, SAF donated $50,000 to support the Graduation Matters Montana – Student Assistance Foundation College Readiness Fund to help increase the number of Montana students who graduate from high school ready for college and careers.

A large portion of the funding for the public benefits that SAF provides Montana citizens comes from its business activities, SAF services a portfolio of some $3.2 billion, comprised of 303,081 loans belonging to 133,969 borrowers. To ensure continued, ongoing funding, 2012 also marked the start of a new business line for Tru Student, Inc., SAF’s wholly owned subsidiary. Tru Student now services private student loans. During Fiscal Year 2011-12, Tru Student and SAF worked tirelessly to prepare for federal student loan servicing for the U.S. Department of Education.

At SAF, we want every Montana family to have the information, tools, and resources to pursue a postsecondary education. To meet that goal, we here at SAF know that we must continuously improve and innovate. Adding new services such as federal student loan servicing provides that improvement and innovation, which in turn, allows us to continue to help you. Helping you is what we do best, and when you succeed, so do we!

Sincerely,

James Bell James Bell Board Chair [email protected]

- 1 - SAF Distributes $1.25 Million 2011-2012 ACCE$$ in Acce$$ Grant Funds to GRANT DISTRIBUTION Montana Schools Aaniiih Nakoda College...... $6,263

In Fiscal Year 2011-12, Student Assistance Blackfeet Community College...... $15,031 Foundation (SAF) distributed $1.25 million in Acce$$ Grant funds to assist students at 21 Carroll College...... $37,579 Montana postsecondary institutions. Chief Dull Knife College...... $7,516

The grants are awarded each year by SAF to Dawson Community College...... $11,274 Montana students through financial aid offices at all Montana postsecondary schools, including tribal Community College...... $60,126 and private institutions, and two-year and four-year Fort Peck Community College...... $11,274 schools. The amount awarded to each school is determined by enrollment numbers. Great Falls College MSU...... $35,900

Financial aid officers use the grants to help Helena College University of Montana...... $23,825 students in need pay for their education. Individual Little Big Horn College...... $9,520 award amounts vary by student and are determined by the financial aid office. Miles Community College...... $13,779

“The financial situation in our house is a balancing – Billings and act between work, school and childcare expenses,” City College at MSU Billings...... $145,306 said Acce$$ Grant recipient Shane Cooke, who is Montana State University – Bozeman...... $289,378 attending Flathead Valley Community College and working toward attaining a degree in forestry. “With Montana State University – Northern...... $37,579 the two children, our childcare expenses are more Montana Tech of The University of Montana and Highlands than our house payment, so this Acce$$ Grant will have a major impact on the financial situation for College of Montana Tech...... $65,764 my family.” ...... $25,053 Since 2000, SAF has distributed $10.7 million in this Salish Kootenai College...... $25,053 form of aid to help Montana students pursue, and attain, their dreams of postsecondary education. Stone Child College...... $6,263

“Affordability remains a major obstacle for students The University of Montana – Missoula and who dream of obtaining a college degree. SAF’s Missoula College University of Montana...... $373,411 investments in Acce$$ grants are intended to make The University of Montana Western...... $30,064 college more affordable, especially for students who face significant financial barriers,” said Kelly University of Great Falls...... $20,042 Cresswell, SAF’s vice president of Foundation Activities. “It’s extremely rewarding to be able to Total...... $1,250,000 make a difference in the lives of so many Montana students in this way each year.” - 2 - SAF Awards $63,000 in Circle of Succe$$ Scholarships to Montana Students

From Sanders to Carter, and all the Montana what SAF employees intended when they established counties in between, 63 students are breathing the scholarship program seven years ago. easier about paying for their college expenses thanks to the award of Student Assistance “The Circle of Succe$$ program is particularly Foundation’s Circle of Succe$$ scholarships in 2012. meaningful to SAF employees because it was initially funded solely through voluntary payroll “Thank you so much for this scholarship,” wrote deductions,” she said. “Today, we look to the Circle of Succe$$ recipient Bryce Worthington. “It proceeds of our annual golf tournament and means so much to my success and to helping me generous donors in the community to allow us become the best student I possibly could. This money to help even more Montana students in need.” will go a long way in alleviating some of the stress that debt will cause me once I graduate from college.” Hess added that the employee committee charged with selecting the scholarship recipients had a challenging Worthington, who is from Billings, is attending duty in narrowing the numerous applications to meet Montana Tech of The University of Montana the number of scholarships available. in Butte, and is studying for his Petroleum Engineering Degree. While he understands that he “Each year we see requests from so many will likely work outside of Montana at the start of dedicated and talented students, it’s always difficult his career, his plans are to return to Montana and to select just a few to receive Circle of Succe$$ raise a family when the opportunity presents itself. scholarships,” she said.

Darbie Hess, grants and scholarship manager for To date, SAF has distributed $404,000 in Circle of SAF, said helping students like Worthington is exactly Succe$$ scholarships.

2012 CIRCLE OF SUCCE$$ SCHOLARSHIP WINNERS BY school

Carroll College Montana State University MSU Billings The University of Montana (cont.) Kegan Cunniff Heather Begger Hillary Beach Ashley Langton Courtney Jones Aimee Duncan Ryan Bowman Nickolette Lannan Kena Lackman Samantha Cooley Karissa Linn FVCC Janessa McGuire Cory Lovec Merri MacDonald Kimberly Clark Kendra Riggs Karlee Young Cory Martini Sarah Greskowiak Wade Robinson Shelbye Brady William Omholt-Montague Aspen Rose Macy Ropp James Robison Shelley Struck Rocky Mountain College Ashley Stewart Mark Schuman Candy Van Frachen Collin Harrell Jessica Wambeke Alexandra Schwier D’Jeane Peters Great Falls College MSU Lucas Wurz Kimberly Siemsen Courtney White Debbie Kleinsasser Jacy Suenram Montana Tech Jolina Waldner Salish Kootenai College Lauren Woods Jennifer Carr Deborah Wurz Juanita Irvine Trace Forkan UM Western Linda Wurz Cade Foster The University of Montana Erin Switzer Stephen Wurz Ryan Hensleigh Kelsey Bailey Shaunna Ogden Helena College UM Elizabeth Patterson Tyler Cheesman University of Great Falls Brayden Oats Trent Thompson Trisha Christensen Shelby Gensch Kevin Tweten Cole Francisco Shanel Libby Bryce Worthington Tiana Jensen

- 3 - Class of 2012

Aimee Duncan Alexandra Schwier Ashley Langton Ashley Stewart Brayden Oats Bryce Worthington Age: 20 Age: 20 Age: 31 Age: 19 Age: 24 Age: 22 Hometown: Frenchtown, MT Hometown: Bozeman, MT Hometown: Glendive, MT Hometown: Columbus, MT Hometown: Helena, MT Hometown: Billings, MT College: Montana State College: The University College: The University College: Miles Community College: Helena College College: Montana Tech University of Montana of Montana College University of Montana

Courtney Jones Courtney White Debbie Kleinsasser Deborah Wurz D’Jeane Peters Elizabeth Patterson Age: 21 Age: 19 Age: 21 Age: 27 Age: 20 Age: 20 Hometown: Bozeman, MT Hometown: Hobson, MT Hometown: Great Falls, MT Hometown: Sun River, MT Hometown: Grass Range, MT Hometown: Butte, MT College: Carroll College College: Rocky Mountain College College: Great Falls College MSU College: Montana State College: Rocky Mountain College College: Montana Tech University

Janessa McGuire Jared Clairmont Jennifer Carr Jessica Wambeke Jolina Waldner Juanita Irvine Age: 24 Age: 20 Age: 22 Age: 19 Age: 27 Age: 26 Hometown: Bozeman, MT Hometown: Helena, MT Hometown: Butte, MT Hometown: Whitefish, MT Hometown: Simms, MT College: Salish Kootenai College College: Montana State College: Montana State College: Montana Tech College: Montana State College: Great Falls College MSU University University University

Kevin Tweten Kimberly Siemsen Lauren Woods Linda Wurz Lucas Wurz Macy Ropp Age: 22 Age: 20 Age: 20 Age: 25 Age: 31 Age: 20 Hometown: Nashua, MT Hometown: Belgrade, MT Hometown: Chester, MT Hometown: Sun River, MT Hometown: Great Falls, MT Hometown: Roberts, MT College: Montana Tech College: The University College: The University College: Great Falls College MSU College: Montana State College: Montana State of Montana of Montana University University

Sarah Greskowiak Scott Clark Shaunna Ogden Shelbye Brady Shelley Struck Stephen Wurz Age: 24 College: Flathead Valley Age: 34 Age: 19 Age: 32 Age: 32 Hometown: Kalispell, MT Community College Hometown: Kalispell, MT Hometown: Hobson, MT Hometown: Kalispell, MT Hometown: Sun River, MT College: Flathead Valley College: University of Great Falls College: Rocky Mountain College College: Flathead Valley College: Montana State Community College Community College University - 4 - Circle of Succe$$ Scholarship Recipients

Cade Foster Candy Van Frachen Cole Francisco Collin Harrell Cory Lovec Cory Martini Age: 22 Age: 43 Age: 19 Age: 19 Age: 19 Age: 21 Hometown: Helena, MT Hometown: Kalispell, MT Hometown: Bigfork, MT Hometown: Wibaux, MT Hometown: Ekalaka, MT Hometown: Boulder, MT College: Montana Tech College: Flathead Valley College: The University College: Rocky Mountain College: Montana State College: The University Community College of Montana College University-Billings of Montana

Erik Omholt-Montague Erin Switzer Heather Begger Hillary Beach Jacy Suenram James Robison Age: 20 Age: 21 Age: 41 Age: 20 Age: 20 Hometown: Missoula, MT Hometown: Great Falls, MT Hometown: Richey, MT Hometown: Bozeman, MT Hometown: Baker, MT Hometown: Dillon, MT College: The University College: The University College: The University of College: Montana State College: Montana State College: The University of Montana of Montana Montana Western University University-Billings of Montana

Karlee Young Karissa Linn Kegan Cunniff Kelsey Bailey Kena Lackman Kendra Riggs Age: 19 Age: 21 Age: 20 Age: 20 Age: 22 Age: 20 Hometown: Havre, MT Hometown: Glendive, MT Hometown: Choteau, MT Hometown: Colstrip, MT Hometown: Hysham, MT Hometown: Belgrade, MT College: Montana State College: The University College: Carroll College College: The University College: Montana State College: Montana State University-Billings of Montana of Montana University University

Mark Schuman Merri MacDonald Nickolette Lannan Ryan Bowman Ryan Hensleigh Samantha Cooley Age: 22 Age: 40 Age: 22 Age: 29 Age: 19 Age: 25 Hometown: Kalispell, MT Hometown: Alberton, MT Hometown: Helena, MT Hometown: Kalispell, MT Hometown: Colstrip, MT Hometown: Helena, MT College: The University College: The University College: The University College: Montana State College: Montana Tech College: Montana State of Montana of Montana of Montana University-Billings University-Billings (Online)

Tiana Jensen Trace Forkan Trent Thompson Trisha Christensen Tyler Cheesman Wade Robinson Age: 21 Age: 20 Age: 19 Age: 19 Age: 20 Age: 20 Hometown: Circle, MT Hometown: Anaconda, MT Hometown: Plains, MT Hometown: Choteau, MT Hometown: Saint Regis, MT Hometown: Kalispell, MT College: The University College: Montana Tech College: Montana Tech College: The University College: The University College: Montana State of Montana of Montana of Montana University - 5 - College Goal Montana: More than 12,000 Families Served Since 2005

Student Assistance Foundation (SAF), financial aid 30-minute presentation about the FAFSA, logged professionals and other volunteers helped 1,087 on to fafsa.gov and completed the form with help Montana students complete their Free Application from site hosts and subject matter experts. for Federal Student Aid (FAFSA) at College Goal Montana sites across the state in 2012. “The Webinar element of College Goal Montana really took off this year — we were able to help 312 “That brings the total number of students and students file their FAFSAs through these programs,” families served through this event to more than Safford said. “We’re thrilled that we have been able 12,000!” said Rhonda Safford, state coordinator to extend our reach to make sure that every student for the event. “That’s 12,000 people who have and family in Montana has access to this important benefited from this free service that helps them program in one form or another.” maximize their opportunity to receive federal, state and institutional financial aid.” Safford was grateful to the almost 300 volunteers who helped with the College Goal Montana events In 2012, the event was held at 16 locations on and Webinars, and the generous donors who Wednesday, Feb. 8 and Sunday, Feb. 12. contributed funds to support $500 scholarships awarded to students through drawings. In addition to providing one-on-one FAFSA completion assistance to Montana students and College Goal Montana is affiliated with College Goal families through the traditional College Goal Sunday — a national program that was originally Montana sites and activities, SAF coordinated created by the Indiana Student Financial Aid FAFSA completion Webinars in 54 communities Association with funding from Lilly Endowment, throughout the state. Inc. and with supplemental support from Lumina Foundation for Education. Participants in the Webinar events listened to a

2012 COLLEGE GOAL MONTANA SITES

Great Falls College MSU

Helena College University of Montana

- 6 - SAF Helps Fund KnowHow2GO Weeks

Six Montana schools received funding from Student to complete financial aid, college applications and Assistance Foundation (SAF) in Fiscal Year 2011-12 to scholarship paperwork,” said Darlene Azure, a help students KnowHow2GO to college. counselor at Harlem High School. “We utilized the grant to entice both parents and students to enjoy The funds — which were re-granted by SAF from extra time spent at the school working to prepare a Lumina Foundation for Education grant — were for post-graduation. This extra time provided to Thompson Falls and help are part of the reason for “Receiving the KH2GO High School, Plains High School, the increased number of senior Harlem High School, Glasgow High grant allowed us graduates attending college this fall School, The University of Montana to offer our senior of 2012.” Western and Montana Tech of The students and parents University of Montana. several opportunities In addition, SAF distributed grant funds to the Montana to complete The schools used the funds in Post Secondary Educational a variety of ways to encourage financial aid, college Opportunities Council to help tribal students to take an active role applications and schools to host their second annual in planning their educational scholarship paperwork” Tribal College and Career Fair, and and occupational futures by to the Helena Education Foundation completing activities including to bring guest speaker Dr. Mark skill and interest assessments, career exploration, Ibsen to speak at Helena’s Vigilante Academy. college tours and financial aid investigation. Fiscal Year 2011-12 marked the third year that SAF “Receiving the KH2GO grant allowed us to offer our distributed the Lumina Foundation for Education senior students and parents several opportunities funds for this purpose.

- 7 - Campus Outreach Offices: Reaching Out to Students and Families

Student Assistance Foundation (SAF) reaches out how to finance postsecondary education. to students and families across Montana through staff at its nine campus outreach offices. “These outreach offices allow SAF employees to interact with students in a setting that’s accessible Managers at these offices provide free money and comfortable,” said Kelly Cresswell, SAF’s vice management counseling, scholarship search and president of Foundation Activities. “We know from application assistance, Free Application for Federal our experience that we’re able to serve far more Student Aid (FAFSA) completion help, resource students when we’re on campus, and provide a referrals and more. valuable resource to the communities in which we have outreach offices.” In addition, school counselors, teachers and other educators are encouraged to contact outreach In Fiscal Year 2011-12, staff at SAF’s campus managers to schedule presentations on start-to- outreach offices helped 53,224 students and finish education planning, focusing primarily on families.

LIZ FOSTER KALISPELL Flathead Valley Community College (406) 756-3382 MARY HOWARD NATALIE NEFZGER [email protected] PABLO GREAT FALLS Salish Kootenai College Great Falls College MSU (406) 871-4735 (406) 771-5136 [email protected] [email protected]

NOLAN GLUECKERT MISSOULA MARTI JOHNSON The University of Montana HELENA (406) 243-5426 Helena College University [email protected] of Montana (406) 447-6950 [email protected] KALIE PORTER JOSH SLOAN BILLINGS MILES CITY MSU – Billings Miles Community College (406) 657-1639 EMILY FLEMMING (406) 874-6197 [email protected] BOZEMAN [email protected] Montana State University SCHYLAR (406) 994-5024 CANFIELD-BABER [email protected] BUTTE Montana Tech of The University of Montana (406) 496-4890 [email protected]

- 8 - Free Presentations Available

College and College Readiness:

 Scholarship Searches, How to Write a Scholarship Essay

 Common Sense Tips to Make College Successful (partnership with Better Business Bureau)

 Roadmap to College (presentation and interactive game)

 Paying for College

 Junior Parents — Preparing for College

 High School Jeopardy (interactive game)

Financial Literacy

 Identity Theft (partnership with Better Business Bureau)

 Debt Management/College 101 (overview of multiple financial literacy/college themes)

 M&M and Candy Bar Game (budgeting)

 Isle of Misfortune (budgeting/financial literacy)

 Cash Cab (on-campus interactive, Cash Cab asks financial literacy questions to students on campus, offer prizes)

 And more

General:

 About Student Assistance Foundation

 General Program Overview

- 9 - Thirty Students Attend SAF’s College Prep Camp for Foster Youths at Carroll College

Thirty foster care youths from across Montana and how to use the Internet to research traveled to Carroll College in July to participate in scholarships and other forms of financial aid, nonprofit Student Assistance Foundation’s annual colleges, careers and more. “A Step Ahead” College Prep Camp. In addition, the youths While at the free, four-day camp, participated in numerous team- the youths experienced college More than 25 percent building exercises structured firsthand, right down to sleeping of the students who to bring the campers closer in the dorms and eating in the have been served by the together, an effort designed to cafeteria. camp are registered in help them develop peer support postsecondary education, systems as they move forward “We try to pack as much and overall, 60 percent with their postsecondary information and experiences education. as possible into those four of the students who days,” said Rhonda Safford, participate in the camp Finally, campers left “A Step camp coordinator. “Many of will enroll in such a Ahead” with a free laptop these youths don’t come from program. This is well computer to use as they work a background of postsecondary above national averages. toward their education goals. education and it’s our goal to not only inspire them to pursue their “I really liked the camp,” said dreams of college, but equip them with the tools 2012 camper Tyler Taylor. “I learned a lot. This fall, I they need to be successful once they get there.” will take the steps I learned here.”

Campers attended “classes” to learn basic 2012 marked the seventh year that SAF has computer skills, money management techniques, coordinated this camp for Montana foster care youths.

- 10 - Foster Youth Tyler Taylor: College is his next step

When Tyler Taylor thinks knew how to make his dreams of college a reality. about his years in the Mon- tana foster care system, he In July 2012, Taylor attended Student Assistance doesn’t consider it to be lost Foundation’s “A Step Ahead” College Prep Camp time. with 29 of his peers and began piecing together the steps he needs to take to take his education to Instead of letting the disrup- the next level. tion in his family life con- sume him, the 18-year-old “The camp gave me the steps to take,” he said. Butte resident turned to his “It broke (the process) down well. It’s a lot clearer studies to provide a distrac- now and the part about how to get financial aid tion from the turbulence, and a point of much- was really helpful. I didn’t know about (Education needed stability. and Training Vouchers for foster care youths) until this camp.” Taylor, a senior in high school, says his favorite sub- ject is math, and he’s giving serious consideration Taylor received some guidance through the Upward to studying engineering at Montana Tech of The Bound program — a federal program that works University of Montana. with high school students to enhance the skills and motivation necessary to complete high school and “My grandpa wants me to be a petroleum engi- be successful in college. However, he said the ad- neer,” he said. “He didn’t go to college, but he ditional information provided at the camp comple- wants me to have a good life.” mented what he had already learned.

According to Taylor, his biological mother went “Come to camp,” he advises other foster care to college and graduated from Montana Tech, so youths. “Get involved with SAF and Upward Bound. the concept of pursuing postsecondary education Do as much college prep as you can so you know wasn’t foreign to him. However, that didn’t mean he what to do!”

Education and Training Vouchers for Montana Foster Care Youths

In 2012, 28 Montana foster care youths took Students may receive ETV funds as long as they are in advantage of Foster Care Education and Training good standing and making progress toward completing Voucher (ETV) program funds to help pay for their their program of study or graduating. Montana postsecondary education. students must remain in at least half-time status or the equivalent at a technical/vocational program. The program — which provides up to $5,000 per year to eligible foster care youths between ETV funds can be used to help foster youths pay the ages of 16 and 23 — is administered through for postsecondary education and costs associated a partnership between Student Assistance with that like purchasing computers, paying for Foundation and the Montana Department of Public books and more. Health and Human Services (Montana Foster Care Independence Program). In Montana, about 300 high school-aged youths are being served through the foster care system.

- 11 - SAF Hosts “Lucky” Seventh Annual Golf Scramble, Raises $31,000

Twenty teams from across Montana and throughout from across Montana,” said Pat Schlauch, scramble the nation gathered at Helena’s Green Meadow coordinator. “That put us well on our way to Country Club in August to play a round of golf, try attaining our goal of providing one, $1,000 Circle of their luck at on-course games and raise funds to Succe$$ scholarship in honor of each of Montana’s support nonprofit Student Assistance Foundation’s 56 counties.” Circle of Succe$$ scholarship program. To date, the employee-based Circle of Succe$$ In honor of the seven years that SAF has provided scholarship program has distributed $404,000 Circle of Succe$$ scholarships for Montana to Montana students in need. students, the scramble followed a Las Vegas theme complete with an on-course poker run and even a Schlauch added that the success of the annual visit from Elvis. scramble can be attributed to the generosity of scramble participants and supporters. “This year, we raised $31,000 for scholarships for second, third and fourth-year college students Next year’s event is scheduled for Aug. 8, 2013.

SAF Grants $50,000 to Support Local Graduation Matters Initiatives

Student Assistance Foundation (SAF) partnered Host student and family focus groups with Superintendent Denise Juneau’s office in to discuss college-going attitudes and Fiscal Year 2011-12 to create the Graduation Matters perceptions, and develop plans to address Montana – Student Assistance Foundation College issues raised. Readiness Fund. Propose an activity/activities that will Graduation Matters Montana is a network of locally affect graduation attainment and college designed, community-driven efforts to increase the preparedness in their community. number of Montana students who graduate from high school ready for college and careers in the “Student Assistance Foundation understands the Montana workforce. importance of making sure high school students graduate and that they have the access and The Office of Public Instruction will distribute opportunity to pursue higher education,” said SAF’s $50,000 donation to the program to up to Superintendent Juneau. “This investment in 10 participating schools through a competitive Graduation Matters Montana will promote greater process. The schools must agree to at least one of collaboration between K-12 schools, colleges and the following: universities and seeks to break down barriers students and families face when considering life Identify a target number of seniors they after high school graduation.” will have complete the Free Application for Federal Student Aid (FAFSA) and provide support and interventions designed to achieve that target.

- 12 - Student Assistance Foundation - Outreach Programs Public benefits delivered to Montana Citizens Fiscal years 2001–2012 $4 $3,848,997

$3.5

$3

FY12 $2.5 FY11

$2 FY10 FY09

$ million $1,399,820 $1.5 $1,317,729 FY08 $1,213,260 FY01-07 $1

$0.5 $205,587

College Goal Campus Outreach Foster Care MCAN and MCIS and Montana Offices KnowHow2Go Early Awareness

Student Assistance Foundation - Grants Public benefits delivered to Montana Citizens Fiscal years 2001–2012

$11 $10,749,654

$10

$9

$8

$7 FY12

$6 FY11

$5 FY10

$4 FY09 $ million

$1,522,920 FY08 $1.5 FY01-07

$1

$428,874 $0.5 $404,000 $247,750

Sponsorships Scholarships Acce$$ Grants Circle of Other Comp. Succe$$ Grants Mission Grants

- 13 - Thank you donors for contributing to our success! Allegra Print & Imaging First Interstate Bank Lisa Leland PPL Montana Amber Osterman First Montana Bank Liscarnan Solutions, LLC Rebecca Eanes Ameresco Flathead Travel Liz Foster Rebekah Birkholz Anderson Zurmuehlen & Co Flathead Valley Community Lori Hultin Rhonda Safford Andrea Rankin College Lumina Foundation for Education Rick Pyfer Andy Hunthausen Flathead Valley Community Luxury Nails Rod Sundsted Ann Brewer College-Continuing Ed Lynn Nelson Roger “Rusty” Saylor Arlene Williams Florence Coffee MacKenzie River Pizza Co Royal Johnson Banc of America Securities LLC Frank Nguyen Macy’s Russ Ritter Bank of America Fred Flanders Marci Heigh S. K. Anderson Barb Knutson Gentle Persuasion Massage Marina Cay Resort Salish Kootenai College Bergman Incentives Gina Reilly Marti Johnson Saunders Jewelry & Design Best Western Helena Great Glenda Valvoda Mary Howard Schylar Canfield-Baber Northern Hotel Grand Junction Mercantile Melissa Huntington Scott Todorovich Blackfoot River Brewing Company Graphic Imprints Meritas Educational Funding LLC Sheri Rhoads Boxwoods Great Clips Michael Reeslund Silver Star Steak Company Brian Aliperto Green Meadow Country Club Michele Faure Simon Poole Brian Arnold Greg Smith Michele Mathot Snap Fitness Brittney Nicholls Gwen Thennis Mike Pohl Starbucks - Helena Candace Ahl Heidi Mahr Montana Broom & Brush Supply State of Montana-License Plate Candi Preskar Helena Motors Montana Chamber Foundation Program Canyon Ferry Mini Basket Helena Women of the Moose Montana Chamber of Commerce Steffano’s U-Bake Pizza & Sub Carolynn Bright Chapter #906 Montana Community Foundation Shoppe LLC Carroll College Her Alibi Salon Montana Credit Union Network Stephanie Chambers Cathy Wood Higher Education Services, Inc Montana Federal Credit Union Steve Larson Chili O’Briens Ilene Cohen Montana Marketing Inc Summer Rippingale Christy Wise Ingraham Environmental Inc. Montana Shares Tanja Hulst Cindy Utterback Island Liquor Store Montana State University Billings Terry Cosgrove Clayton Christian James Waber Foundation The Investment Group Cobblestone Clothing Co. Jan Wiggins Montana Tech Foundation The January Corporation Courtney Cozzie Janet Drexel Montana Tech of The University The University of Montana Crowley Fleck Law Firm Janet Riis of Montana Foundation Dan McGurran Jayme Auer Montana-Dakota Utilities Tizer Meats Darbie Hess Jeff and Libby Goldes Morrison-Maierle Inc Todd Bartle Daryl Jackson Jeff Floerchinger Mountain West Bank Todd Jones Dawn Newell Jessica Ritchie MPSEOC Town Pump Charitable Foundation Dawson Community College Jim Cargill Muddy Hill’s Pottery Traci Merzlak DCS, A Peformant Company Jim Penner Nicole Hanni Tracie Fladeland Debbi Beartusk Jim Stipcich Nolan Glueckert Treacy Company Diamond Products, Inc. JoAnn Chambers Northrop Grumman United Student Aid Funds Diamondback Golf JoAnn Weber Northwestern Energy Valley Bank of Helena Don Oliver Jolene Myers Office of the Commissioner of Valley Sand and Gravel Donald Blackketter Jolene Selby Higher Education Van’s Thriftway Dorsey & Whitney LLP Julie Massaro Omega Consultants to Vicki Bisbee Doubek & Pyfer Kathy Royston Management Waber Ranch DPHHS - Child and Family Services Kathy Samson Omnicap Group LLC Wells Fargo Bank Eagle Bend Golf Course KDA, LLC Pat Appling Wells Fargo Bank N.A.- Minneapolis Ed Jasmin Kelly Cresswell Pat Schlauch Wendy Brenden Eliesha Leland Kim Cunningham Payne Financial Group, Inc. Westaff of Helena Inc Elizabeth Bangerter Kit Johnson Penny Balcerzak Wheat Montana Emily Flemming Kit’s Tackle Perkins Restaurant Wingate Inn Eric Severtson Kris Anglin Phyllis Atkinson Woody’s Carwash Ericka Donovan Laguna Education Services, LLC Placer Motors YMCA of the USA Erin Griffith Leslie Weldon Plum Creek Foundation Ernie Beardsley Lindy Heddings Power Townsend Co

- 14 - SAF: Positioning to Ensure Funding Streams for the Future

Fiscal Year 2011-12 was a year of growth and new At the end of Fiscal Year 2011-12, SAF and Tru opportunities for nonprofit Student Assistance Student’s combined servicing portfolio totaled Foundation (SAF) and its subsidiary, Tru Student, Inc. $3.2 billion, comprised of 303,081 loans belonging to 133,969 borrowers. Loans held by the Montana In pursuit of its business goal of providing funds Higher Education Student Assistance Corporation to support SAF’s philanthropic purpose, for-profit (MHESAC) — SAF’s largest client — represented Tru Student moved forward, supporting its existing about $1.41 billion of that portfolio. business lines and expanding into new ones. In assisting its clients, SAF’s contact center In June, Tru Student commenced servicing its first serviced 303,051 loans and fielded 160,554 calls; small portfolio of private loans, setting the stage to the processing department handled 75,904 forms garner additional private loan servicing contracts and correspondence; and the loss prevention in the future. department placed 302,679 collection and skip In addition, the company continued to offer the tracing calls. servicing of rehabilitated loans for students who “This is an exciting time for Student Assistance had previously defaulted. By assisting students Foundation and its subsidiary, Tru Student,” said and clients to manage their money and improve Jim Stipcich, SAF’s president/chief executive their credit, more than $750,000 of revenue was officer. “Through the day-to-day business of SAF, generated for the combined companies. At year and the new business lines that we are developing end, Tru Student’s serviced Federal Family Education through Tru Student, we are confident we can Loan (FFEL) Program loan portfolio totaled $227.9 help Montana students pursue and fund their million representing 10,441 borrowers. postsecondary education through public benefits Finally, Tru Student worked diligently to capture a including grants, scholarships, and outreach more contract servicing loans for the U.S. Department of effectively than ever.” Education, along with pursuing tuition installment payment plans as a business line.

- 15 - Student Assistance Foundation of Montana and Affiliates Audited Condensed Statements of Financial Position June 30, 2012 and 2011

2012 2011 ASSETS CURRENT ASSETS $ 7,591,777 $ 10,311,370 TOTAL PROPERTY AND EQUIPMENT 3,848,779 3,715,337 OTHER ASSETS 18,216 TOTAL OTHER RESTRICTED ASSETS 463,748 197,059,854 TOTAL ASSETS $ 11,922,520 $ 211,086,561

LIABILITIES CURRENT LIABILITIES $ 6,317,348 $ 206,425,951 LONG-TERM LIABILITIES 4,829,716 2,245,422 TOTAL LIABILITIES $ 11,147,064 $ 208,671,373

NET ASSETS UNRESTRICTED, UNDESIGNATED $ 262,253 $ 2,210,515 BOARD-DESIGNATED FOR ENDOWMENT 463,748 184,892 TEMPORARILY RESTRICTED 49,455 19,781 TOTAL NET ASSETS 775,456 2,415,188

TOTAL LIABILITIES AND NET ASSETS $ 11,922,520 $ 211,086,561

Student Assistance Foundation of Montana and Affiliates Audited Condensed Statements of Activities For the years ended June 30, 2012 and 2011

2012 2011

REVENUE AND SUPPORT $ 17,967,685 $ 21,000,263 NET ASSETS RELEASED FROM RESTRICTION 358,935 324,292 TOTAL REVENUE AND SUPPORT $ 18,326,620 $ 21,324,555

EXPENSES TOTAL PROGRAM OPERATING EXPENSES $ 19,838,483 $ 22,038,089 TOTAL GENERAL AND ADMINISTRATIVE EXPENSES 157,543 270,267 TOTAL EXPENSES $ 19,996,026 $ 22,308,356

INCREASE (DECREASE) in unrestricted net assets $ (1,669,406) $ (983,801) before extraordinary items and cumulative effect INCREASE in temporarily restricted net assets 29,674 8,781 INCREASE (DECREASE) IN NET ASSETS $ (1,639,732) $ (975,020) NET ASSETS AT BEGINNING OF YEAR $ 2,415,188 $ 3,390,208

NET ASSETS AT END OF YEAR $ 775,456 $ 2,415,188

- 16 - STUDENT ASSISTANCE FOUNDATION Student Assistance Foundation BOARD OF DIRECTORS OFFICERS

Jim Bell - Board Chair Jim Stipcich Missoula President

Rod Sundsted - Vice Chair Jolene Selby Helena Senior Vice President

Rob Barnosky Kelly CRESSWELL Billings Vice President

Kim Cunningham Don Oliver Anchorage, AK Vice President

Ed Jasmin Simon Poole Helena Vice President

Royal Johnson Scott Todorovich Billings Vice President

Russ Ritter janet riis Helena Secretary/Treasurer Helena Ron Sexton Billings

Lila Taylor Busby CORPORATE OFFICE 2500 Broadway Helena, MT 59601 (406) 495-7800 SmartAboutCollege.org (406) 495-7880 (fax) (877) COLG4ME safmt.org

outreach OFFICES

BILLINGS GREAT FALLS MILES CITY Montana State University – Billings Great Falls College MSU Miles Community College McMullen Hall Student Central 2715 Dickinson 1500 University Drive 2100 16th Ave. S. Miles City, MT 59301 Billings, MT 59101 Great Falls, MT 59405 (406) 874-6197 (406) 657-1639 (406) 771-5136

BOZEMAN HELENA MISSOULA Montana State University Helena College University of Montana The University of Montana Strand Union, Room 130A Student Center Griz Central – Lommasson Center Bozeman, MT 59717 Donaldson Campus Missoula, MT 59812 (406) 994-5024 Helena, MT 59601 (406) 243-5426 (406) 447-6950

BUTTE KALISPELL PABLO Montana Tech of Flathead Valley Community College Salish Kootenai College The University of Montana 777 Grandview Drive Kenmille Building Student Union Building, Room 112A Blake Hall, Room SCA 104 58138 US Hwy 93 1300 W. Park Street Kalispell, MT 59901 Pablo, MT 59855 Butte, MT 59701 (406) 756-3382 (406) 871-4735 (406) 496-4890