The No.1 Paying-for-College Company Offers New Products and Services for
Community College Students
RESTON, Va., April 8 /PRNewswire/ -- Sallie Mae announced today that it is
introducing an array of loan products, education resources and scholarships
for community college students. Sallie Mae's Community College Solutions(SM)
includes tools and resources that community college students and their
families can use to plan and pay for college.
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"We're pleased to offer this unique and comprehensive package that
includes new, alternative ways to cover the cost of community college," said
Dennis Wentworth, senior vice president, Higher Education Sales, Sallie Mae.
More than 11 million students attend community colleges, and these schools
play an increasingly vital role in our economy. At the same time, state budget
pressures are forcing many of these institutions to raise tuition. In some
cases, federal loans may not be adequate for students to cover the total cost
of attendance, which includes tuition, fees and other costs.
Sallie Mae can help students bridge the gap with the Community College
Loan (SM), a new private, credit-based loan specifically designed for students
enrolled in an associate degree or eligible certificate program. This loan,
which can be used in combination with federal loans, may be particularly
helpful for students paying out-of-state tuition, living on their own, or
enrolled in higher-cost programs. Separately, Sallie Mae is introducing the
Continuing Education Loan(SM) for the growing number of returning adults
pursuing professional or technical training. Many of these students are
enrolled in non-degree programs and are not eligible for federal loans.
To further help students manage tuition expenses, community colleges can
now offer Sallie Mae's Tuition Payment Plan, an interest-free program that
allows students to spread out their tuition payments throughout the school
year, instead of making upfront payments. "Sallie Mae can now serve the needs
of a broad spectrum of students at community colleges," added Wentworth.
Separately, The Sallie Mae Fund, a charitable organization sponsored by
Sallie Mae, will support a new scholarship program in partnership with the
Hispanic Scholarship Fund (HSF). The Sallie Mae Fund's Community College
Transfer Scholarships will encourage more Latino students to complete their
associate degree and continue on to a bachelor's degree or beyond. "We applaud
Sallie Mae and The Sallie Mae Fund's efforts to improve educational
opportunities for our nation's youth," said Sara Martinez Tucker, president
and CEO of the Hispanic Scholarship Fund. In addition to the scholarships,
Sallie Mae and HSF will provide a series of free workshops to help students
and families prepare for community college and the transition to a four-year
university. "Programs like these demonstrate Sallie Mae and The Fund's
commitment to the needs of the Hispanic community," said Martinez Tucker.
Sallie Mae has also enhanced its commitment to community colleges by
becoming a sponsor of the American Association of Community Colleges. Finally,
Sallie Mae launched a community college portal,
http://community.collegeanswer.com, an online planning resource for students
and parents that provides information and tools for college preparation and
financing.
Community colleges interested in learning more about Sallie Mae's
Community College Solutions(SM) should contact their Sallie Mae Higher
Education Sales Representative or call Ray Pranske at (727) 871-4883.
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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