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The Sallie Mae Fund awards grant to Catholic Schools Foundation; funds enable dozens of at-risk, inner-city children to attend Boston area Catholic schools

RESTON, Va., Sept. 25, 2002—In an effort to reach inner-city and at-risk children at a young age and put them on the path to a successful academic career, The Sallie Mae Fund has awarded a $40,000 grant to the Catholic Schools Foundation in Boston, Mass. The grant will support the organization's Inner City Scholarship Fund, which opens doors to education to under-privileged children by providing tuition assistance, which enables them to attend Boston's inner-city Catholic schools. The Sallie Mae Fund is the charitable arm of Sallie Mae, the nation's leading provider of education funding.

Last year, The Inner City Scholarship Fund distributed $4.8 million, helping to educate 5,000 children. This grant from The Sallie Mae Fund will provide need-based scholarships for an additional 40 children.

"Our goal is to level the playing field," said Peter Lynch, chairman, Catholic Schools Foundation. "All children deserve the opportunity to receive a quality education. Contributions such as this one from The Sallie Mae Fund are valuable investments in the future of our youth."

Low income and minority students attending Catholic schools in disadvantaged neighborhoods are apt to have substantially lower dropout rates, higher test scores and a better chance to move on and pursue a higher education. During the 2001 academic year, 47 percent of Boston-area Catholic school students were minorities and 22 percent of students were non-Catholic. Since its inception in 1991, the Inner City Scholarship Fund has provided assistance to nearly 35,000 students.

"Academic performance plays a major role in ensuring that students can avail themselves of the benefits of continuing their education," said Albert L. Lord, vice chairman and chief executive officer, Sallie Mae. "The Inner City Scholarship Fund makes a difference in the lives of students at an early age. The Sallie Mae Fund is proud to support a successful initiative like this one, which can help put children on the path to success."

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

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.