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Students at a Paying for College Bus Tour stop, Reading PA

The Sallie Mae Fund awards more than $2.5 million in college scholarships

Awards will help more than 1,000 students nationwide this fall.

Reston, Va., September 15, 2003—The Sallie Mae Fund today announced it has awarded more than $2.5 million in scholarships to help more than 1,000 students enroll in college this fall through its community-based initiative, Project Access.

Project Access targets under-served populations to increase access to higher education by addressing three key barriers—awareness of financial aid, academic performance and financial need. These scholarships are part of the Project's three-year, $15 million initiative.

"By providing scholarships to more lower income and minority students, The Sallie Mae Fund is helping to increase access to higher education for a new, more diverse generation of Americans," said Susan Corsini, chairman, The Sallie Mae Fund. "At time when state budget cuts are making serious dents in higher education, it is essential that would-be students are not deterred from pursuing their academic dreams." In addition, the population of college-age youth is expected to grow by nearly 5 million by 2015, with 80 percent of the increase coming from minority populations. In addition, the vast majority of new jobs created during that time will likely require some postsecondary education.

To meet these challenges, The Sallie Mae Fund has increased its financial assistance this year. Highlights include:

The Sallie Mae Fund "First in My Family Scholarship Program":
The Sallie Mae Fund developed the First in My Family program in partnership with the Hispanic College Fund in 2001. This year, 155 Hispanic-American students who are first in their family to attend college will receive scholarships ranging from $500 to $5,000 per student.

"The Sallie Mae Fund's commitment to this program has made a real difference in students' lives," said Idalia Fernandez of the Hispanic College Fund. "By targeting scholarship dollars to Hispanic-Americans who are first in their families to pursue a higher education, the Fund is helping those students and their parents realize the American dream of education, independence and achievement."

The Sallie Mae Fund Unmet Need Scholarship Program:
New for the 2003-2004 school year, the Unmet Need Scholarship Program is the largest scholarship program within Project Access. This program is intended to help financial aid officers meet the needs of students whose financial aid packages fall short by $1,000 or more. Open to families with a combined income of less than $30,000, Unmet Need scholarships provide a “last dollar” resource when no other funds are available.

The Sallie Mae Fund American Dream Scholarship Program:
Also new for the 2003-2004 school year, the American Dream program was developed in partnership with the United Negro College Fund. The program offers scholarships ranging from $500 to $5,000 to African-American students with demonstrated financial need.

The Sallie Mae Fund Scholarship Program:
The Fund provides scholarship renewals based on economic need for students with combined family incomes of $35,000 or less. Half of this year's 328 recipients are ethnic minorities or have a physical disability. They will attend college this fall with the help of scholarships ranging from $500 to $2,000.

The Sallie Mae 911 Education Fund:
Created in response to the September 11, 2001 terrorist attacks, the 911 Education Fund provides scholarship dollars to children of those who were killed or permanently disabled in the attacks. This fund also provides grants, which enable spouses of those who were killed or deemed permanently disabled in the attacks to pay off their Sallie Mae education loans.

In addition, The Sallie Mae Fund awards scholarships ranging from $500-$1,000 to future college students at each of its nationwide “Paying for College” workshops. This year, $30,000, has been awarded to students who attended Paying for College workshops in their high school years and are off to college this fall.

To be eligible for The Sallie Mae Fund Scholarship Programs, students must be accepted and enrolled at a Title IV eligible, accredited postsecondary two- or four-year college or university, vocational, or technical school in the United States or Puerto Rico and meet program-specific eligibility requirements.

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.