The Fishers-based not-for-profit announced Wednesday that it will transfer ownership of two affiliates—United Student Aid Funds and Northwest Education Loan Association—to Madison, Wisconsin-based Great Lakes Higher Education Corp. on Jan. 1.
William D. Hansen, 53, served as Deputy U.S. Secretary of Education from 2001 to 2003. He'll replace current CEO Carl C. Dalstrom, who is retiring after more than a decade leading Indianapolis-based USA Funds.
Lucrative incentives paid to federal student-loan collectors are sparking criticism that not-for-profit loan-guaranty agencies are reaping a bonanza from the troubles of former students. USA Funds, the largest guaranty agency, is based in Indianapolis.
Gift from USA Funds will allow organization to help more high-achieving, low-income teens prepare for college.