More students will be able to further their automotive education now that Universal Technical Institute, Inc. has developed a $10 million private loan initiative. The program assists select students who have exhausted traditional Title IV student financial aid eligibility are unable to qualify for credit-based loan programs, and therefore may not otherwise be able to attend UTI. Loans will be originated by 1st Century Bank, N.A. and serviced by ACS Education Services, Inc. To ensure that the terms and conditions of these loans remain favorable for students, UTI will bear ultimate financial responsibility for the re-payment of loans originated under this program. "Traditional federal student aid and alternative student loans are still the first and best sources of funding for our students, but this program will greatly assist those who would otherwise be unable to pursue their education goals because of an inability to obtain reasonable loans through other sources," says Kimberly McWaters, UTI president and CEO. "Helping eligible students bridge the tuition gap on a limited basis is a good use of UTI's strong balance sheet and further enhances our capacity utilization." UTI has additional programs designed to help students with their tuition and school expenses, including the recently announced UTI Foundation. As the philanthropic arm of UTI, the foundation provides qualified students with scholarships, grants and other programs. According to Veronica Meury, UTI Foundation vice president and executive director, the new non-profit has awarded nearly $400,000 in grants and scholarships to students already this year. The UTI Foundation, which recently completed its formation period, anticipates awarding nearly $1 million in 2008 to students pursuing technical training programs at UTI's 10 campuses nationwide. Another innovative UTI program provides support to eligible students once they have begun classes. The UTI Foundation Student Emergency Fund, administered by the UTI Foundation, raised more than $130,000 to aid UTI students this year. Funds for the program come from employee fundraising events and contributions from the company, its employees and alumni. Eligible students can receive food, toiletries and clothing, as well as grants for such critical expenses as rent, utilities and healthcare bills. "The UTI Foundation Student Emergency Fund can make a big difference in students' ability to stay in school and finish their technical education," says Meury. "UTI is committed to changing the world one life at a time," adds McWaters. "Our new private loan program, UTI Foundation and UTI Foundation Student Emergency Fund are all examples of our goal to make a difference in the lives of our students. We believe that those with a passion for the automotive, collision repair, diesel, marine, motorcycle and NASCAR industries should be able to pursue and focus on their technical education without struggling to bridge the tuition funding gap." For more information, visit http://www.uti.edu/. | 
