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One year later, the "Sallie Mae 911 Education Fund" has distributed nearly one million dollars to assist families impacted by Sept. 11, 2001 terrorist attacks

$1.5 million initial contribution from charitable arm of nation's leading education loan provider funds loan relief and college scholarships

RESTON, Va., Sept. 03, 2002—The Sallie Mae Fund today announced that it has distributed nearly one million dollars in loan relief and scholarship funds to families impacted by the terrorist attacks of Sept. 11, 2001 through The Sallie Mae 911 Education Fund. The Sallie Mae 911 Education Fund was established last October with an initial contribution of $1.5 million from The Sallie Mae Fund, the charitable arm of Sallie Mae, the nation's leading provider of education funding. The 911 Education Fund is a living entity, created to enable The Sallie Mae Fund to assist those affected by the Sept. 11 terrorist attacks, as well as respond to other national emergencies and natural disasters.

The 911 Education Fund has enabled more than 50 spouses and co-borrowers of those who were killed, declared missing or deemed permanently disabled in the terrorist attacks to pay their Sallie Mae student loans. In addition, the Fund has provided scholarship dollars for post-secondary education to two dozen children of those who died or suffered debilitating injuries in the attacks. These scholarships have been made available not only to children of those lost on airplanes and in office buildings on Sept. 11, but also to children of rescue workers who were lost in the line of duty, including police, fire and emergency medical personnel.

"In the aftermath of the terrorist attacks, we were determined to help by doing what we do best—making higher education accessible and affordable," said Albert L. Lord, vice chairman and chief executive officer, Sallie Mae. "By establishing the 911 Education Fund, The Sallie Mae Fund was able to respond quickly, disbursing a quarter of a million dollars in scholarships and loan relief in the first three months following the attacks, and nearly triple that amount in the nine months since then."

State financial aid administrator associations from affected states have assisted in disbursing funds from the 911 Education Fund to eligible children of victims to use at in-state institutions. "The Sallie Mae Fund worked with financial aid administrators, to reach those most directly impacted," said Thomas J. (Tim) Fitzpatrick, president and chief operating officer, Sallie Mae. "The Sallie Mae Fund will continue to work to ensure these terrorist attacks do not derail families' dreams of a higher education."

Applications and guidelines for The Sallie Mae 911 Education Fund loan relief and scholarship program can be found at www.thesalliemaefund.org or by calling 800/441-4043.

For more information, contact:
Stephanie Tew
703/810-6810

Martha Holler
703/810-5178

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.