Education Award Granted to Winner in the Finale of 'Make My Kid a Star'
Series
RESTON, Va., May 22 /PRNewswire/ -- Sallie Mae, the nation's leading
saving- and paying-for-college company, awarded $25,000 to 11-year-old
Gracie Maddox on "Dr. Phil" to help pay for her college education. The
presentation is part of Sallie Mae's ongoing awareness campaign to remind
students and families that college is possible. Dr. Phil McGraw presented
the award to Gracie on behalf of Sallie Mae for winning the show's "Make My
Kid a Star" grand prize.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a )
"Sallie Mae has helped millions of Americans reach their dream of a
higher education," said the host of "Dr. Phil," Dr. Phil McGraw. "This is
an amazing investment in Gracie's future."
Gracie became interested in show business at an early age. Last year,
Gracie's mom, Kiki Wallace, took a big risk to make her daughter's dream
come true by picking up and moving to Los Angeles, taking on a significant
debt burden to help her daughter pursue her acting career. Her sacrifice
seems to have paid off.
"I can't thank Dr. Phil or Sallie Mae enough for making sure Gracie
will have the opportunity to continue to pursue her passions, which include
a higher education," said Kiki. "Right now, Gracie has her sights set on
the University of Cincinnati or Julliard. With Gracie winning the
scholarship, I feel that whatever happens from here on out has been worth
the effort. Gracie and I learned a lot during the competition, and it was
an experience that we will never forget."
Sallie Mae will deposit the check for $25,000 into a
Upromise-administered 529 college savings plan account established for
Gracie's benefit. This 'nest-egg' will continue to grow until it is time
for Gracie's family to begin to pay for her college education. Named after
Section 529 of the IRS tax code, 529 college savings plans are
state-sponsored investment plans in which the assets grow free of federal
taxes. Money in 529 plans can be withdrawn tax-free, provided the funds are
used to pay for qualified higher education expenses, including room and
board, tuition, books, supplies and other fees. Upromise Investments
currently offers 16 different 529 plans sponsored by nine states. Across
America, more than 1.3 million families have accumulated $17 billion toward
future college expenses in plans administered by Upromise.
"Gracie is a very talented young woman, and Sallie Mae is delighted to
help her grow into her dream," said Martha Holler, spokesperson for Sallie
Mae. "A college education is an investment in your future. We are pleased
to make this investment in Gracie, and we hope it will encourage others to
save for college and follow their dreams."
The syndicated series, "Dr. Phil," was created by Harpo Productions,
produced by Peteski Productions in association with CBS Television
Distribution. It is broadcast on over 212 stations representing 99.9
percent of the national market. Since its debut in September 2002, the
series has been ranked second in the talk show category, and consistently
ranks among the Top Ten of all syndicated strips, according to NSS Ranking
Report.
SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the
nation's leading provider of saving- and paying-for-college programs. The
company manages $150 billion in education loans and serves nearly 10
million student and parent customers. Through its Upromise affiliates, the
company also manages $17 billion in 529 college savings plans. More than
7.5 million people have joined Upromise (http://www.upromise.com) to help save for
higher education by taking advantage of nearly 70,000 college savings
opportunities on everyday purchases. Sallie Mae and its subsidiaries offer
debt management services as well as business and technical products to a
range of business clients, including higher education institutions, student
loan guarantors and state and federal agencies. More information is
available at http://www.salliemae.com. SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.
SOURCE Sallie Mae
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