Wendy McAlister is new president of College Foundation, Inc.

RALEIGH, N.C., July 2, 2012 /PRNewswire/ -- Wendy H. McAlister has been named president and CEO of College Foundation, Inc. (CFI).  McAlister succeeds James I. Avett, III, who retired on June 30 after serving as CFI's president for the past eight years. 

"I am enthusiastic and confident about the Foundation's future under Wendy McAlister's leadership," said Avett.

CFI is a nonprofit corporation, chartered in 1955 by Gov. Luther Hodges to assist North Carolina students and families with paying for higher education.  McAlister will be CFI's fifth president during its 57-year history.

Chairman of the CFI Board of Trustees, Jeff Stewart, vice president relationship manager with PNC Bank, said, "Given her years of dedicated and highly competent service and her significant knowledge and experience in the field of higher education financial assistance, we are extremely pleased to have chosen Wendy McAlister to lead CFI in the coming years." 

McAlister has worked with CFI for 19 years, most recently as senior vice president and president-elect.  She is a native of Graham, N.C. and graduated from N.C. State University with a B.A. in accounting.  She is a licensed Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the N.C. Association of Certified Public Accountants.  Prior to joining CFI, she worked for the public accounting firm of Koonce, Wooten & Haywood, LLP in Raleigh.

She began working for the Foundation in 1993 as vice president for quality assurance, assumed responsibility for CFI's financial services in 1997, was named senior vice president in 2003 and became president-elect in 2011.

During the coming year, McAlister will serve as director at large for the National Council of Higher Education Resources (NCHER), formerly known as the National Council of Higher Education Loan Programs, Inc. (NCHELP).  NCHER represents a national network of organizations, including not-for-profit corporations such as CFI, that provide services for students and borrowers while promoting student access and choice for education and training beyond high school.

"It is my pleasure to work with so many people dedicated to serving students, families and educators," said McAlister.  "Although our business model has changed due to the 2010 enactment of federal legislation eliminating the authority to offer new loans under the Federal Family Education Loan Program, the Foundation's core mission remains the same.  Being part of a concentrated effort to increase college access and success and, thereby, improve the economy of our state, is very rewarding."

Under McAlister's leadership, CFI will continue to service education loans originated under N.C.'s Federal Family Education Loan Program and other state loan programs, administer the state's college grant programs and tax-advantaged 529 college savings plan, assist in delivering college access information to North Carolinians through College Foundation of North Carolina and offer an installment payment plan for N.C. colleges.

Two new services offered by CFI will fully launch this coming year, the servicing of federal assets (including Federal Direct Loans) and a Free Application for Federal Student Aid verification service for colleges and universities.

SOURCE College Foundation, Inc.