More outreach needed to address low College Graduation rates among Latinos.

The Latino population continues to grow at a rapid clip – at 41 million people, compared to 33 million just eight years ago, Latinos are now the fastest growing and the largest minority group in the United States. Yet, according to the nonprofit Hispanic Scholarship Fund, this population growth is not being matched by simultaneous growth in the number of Latinos with college degrees.

Thousands of college-age Latinos are not capitalizing on the benefits of a college education – just over 10 percent of Latinos have college degrees. With a projected Latino college-age population numbering almost 10 million by 2020, the current trend could have profound implications on American society. In earnings potential, the difference between a high school and a college degree can be staggering. According to the College Board, college graduates can expect to make almost $1 million more than those who end their education after high school. Assuming current trends, this means that even a conservative estimate of unrealized earnings for Latinos is in the billions of dollars.

Research by The Sallie Mae Fund, a charitable organization sponsored by student loan company Sallie Mae, indicates that awareness of financial-aid options may be one barrier that keeps Latino students from enrolling in college. “Our surveys have shown that half of the Latino parents and nearly half of Latino adults had not received any information on financial aid before graduating from high school,” said Kathleen deLaski, president, The Sallie Mae Fund. In another survey commissioned by The Sallie Mae Fund, a correlation between financial-aid awareness and the likelihood of attending college was demonstrated. Simply put, many Latinos may not be enrolling in college because they are not aware that billions of dollars of financial aid are available to assist them.

Initiatives that help Latino students transition from high school to college are increasingly necessary. 2Futuro, a new program created by Sallie Mae and USA Funds, the nation’s leading student loan guarantor, provides a fully bilingual college-financing and outreach program that enables Hispanic parents and students to apply for college loans in Spanish. In addition, 2Futuro offers dedicated Spanish-language customer service support to students, parents, and financial-aid administrators.

According to Sergio Sanchez, director of Hispanic brand initiatives at Sallie Mae, one of 2Futuro’s goals is to involve parents of Hispanic students in the financial-aid process so that they can make the best possible college-financing decisions.