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The Sallie Mae Fund announces $160,000 scholarship program at Warren Wilson College; program to provide tuition for business and economics majors

RESTON, Va., June 13, 2002—The Sallie Mae Fund, the philanthropic arm of Sallie Mae, the nation's leading provider of education funding, today announced a $160,000 endowed scholarship fund for business and economics students at Warren Wilson College in Asheville, N.C. The Sallie Mae Fund Endowed Scholarship for Business and Economics Majors will provide need-based scholarships to supplement tuition for undergraduate students in the college's Helen Powers Business and Economics Program, which focuses study on sustainable entrepreneurship, economic development and non-profit management.

The Sallie Mae Fund Endowed Scholarship for Business and Economics Majors was established through two $20,000 gifts from members of the company's board of directors and a three-to-one matching gift of $120,000 from The Sallie Mae Fund as part of the Fund's matching gifts program.

"We are dedicated to providing our students with high-quality, unique programs that are consistent with the liberal arts foundation of Warren Wilson College," said Doug Orr, president, Warren Wilson College, noting that business and economics majors study within a unique triad of economics, work and service. "We are grateful to The Sallie Mae Fund for establishing this scholarship, which will enable us to share this successful program with a wider array of outstanding students. We hope this endowed fund will continue to grow through the generosity of other donors."

The first scholarships from The Sallie Mae Fund Endowed Scholarship for Business and Economics Majors will be awarded beginning in the fall of 2003.

"Our philanthropic mission is to increase access to higher education for
America's children," said Albert L. Lord, vice chairman and chief executive
officer, Sallie Mae. "By establishing this endowed fund, we can ensure this money helps future business leaders realize their education dreams for years to come.

For more information, contact:

Stephanie Tew (Sallie Mae)
703/810-6810

Ben Anderson (Warren Wilson College)
828/771-3758

The Sallie Mae Fund, a charitable organization sponsored by Sallie Mae, achieves its mission—to increase access to a post–secondary education for America's students—by supporting programs and initiatives that help open doors to higher education, prepare families for their investment, and bridge the gap when no one else can. For more information visit www.salliemaefund.org.