Sallie Mae Helps College-Bound Students Evaluate
Award Letters and Access Additional Funds to Meet the Cost of College
RESTON, Va., March 14 /PRNewswire/ -- College-bound students soon will
receive financial award letters from colleges where they have been accepted.
The letters mean that it is deadline time for deciding not only where to
attend college, but also how to pay for it.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a )
Financial award letters provide students and their families with the
amount and types of money they are eligible for, as well as conditions of the
award. Some of the paying-for-college options outlined in award packages
include grants, scholarships, work-study and student loans. The various awards
are based on a school's cost, availability of funds, and family information
provided on the federal student loan application known as FAFSA.
"Comparing different award letters can be like comparing apples and
elephants," says Tom Joyce, vice president of corporate communications at
Sallie Mae. "It does not need to be difficult. Sallie Mae can help you
compare them on an apples-to-apples basis so that you make an informed
decision when accepting or declining money for college."
Sallie Mae's CollegeAnswer.com, the most comprehensive online "going-to-
college" resource, offers an Online Award Analyzer to help families evaluate
financial award packages, as well as other resources, including a free
scholarship search.
If families find that the financial award package they have received falls
short of the cost of attendance, Sallie Mae offers several funding options,
including a low-interest federal education loan for parents and an affordable
private education loan for students.
"If students or families anticipate a need for additional funds, don't
panic," said Joyce. "Sallie Mae offers gap financing with competitive pricing
and flexible repayment plans."
For more information about federal and private loan options, visit
http://www.SallieMae.com.
SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the nation's
No. 1 paying-for-college company, managing more than $107 billion in student
loans for more than 7 million borrowers. Sallie Mae was originally created in
1972 as a government-sponsored entity (GSE) and terminated all ties to the
federal government in 2004. The company remains the country's largest
originator of federally insured student loans. Through its specialized
subsidiaries and divisions, Sallie Mae also provides debt management services
as well as business and technical products to a range of business clients,
including colleges, universities and loan guarantors. 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.
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