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

NAACP to hold National Day of College Preparation Saturday, October 18, 2003

The National Association for the Advancement of Colored People, The Princeton Review Foundation, and The Sallie Mae Fund Offer free SAT test preparation, admission and financial aid information to students and parents in 25 cities nationwide.

Reston, Va., October 2, 2003—To close the widening gap in SAT scores and increase access to college for minority students, The National Association for the Advancement of Colored People (NAACP), The Princeton Review Foundation, and The Sallie Mae Fund have partnered to host free college preparation clinics across the country. The 25 free clinics are part of the sixth annual NAACP National Day of College Preparation on Oct. 18 from 8 a.m. to 2:30 p.m. (see http://events.embark.com/Event/NAACP/ for specific locations). An estimated 2,000 families are expected to participate.

As part of the half-day clinics, The Princeton Review Foundation will offer students practice SAT tests and diagnostics, score improvement strategies, and test preparation books donated by Random House. The Sallie Mae Fund will conduct "Paying for College" workshops for parents to explain the various types of financial aid and resources available to help families prepare for the college admissions process. The Sallie Mae Fund will also award one $500 scholarship to a parent of a college-bound student in each city. The Kellogg Company will provide a light breakfast and Pizza Hut is providing lunch for participants taking part in the college preparation clinics.

This partnership comes at a critical time for our country's higher education. The cost of college education increased 10 to 20 percent last year, making it less affordable than ever for lower-income families. According to a Harris Poll, commissioned by The Sallie Mae Fund, nearly half of parents with income less than $25,000 per year said they have “no idea” how they are going to pay for college for their children. At the same time, as more jobs require a higher education, the stakes for getting into a good school are higher than ever.

SAT scores in 2002 were at an all time high, but the scores of black students, continued to lag behind by more than 200 points. Preparation and knowledge about how to pay for college will help minority students succeed in this environment.

This NAACP National Day of College Preparation is designed to make students and parents aware that a college education is valuable, attainable, and affordable. The partnership between The Princeton Review Foundation, The Sallie Mae Fund and the NAACP stems directly from NAACP President and CEO Kweisi Mfume’s call for education excellence.

"The gross disparities in educational achievement demonstrate the need for these types of partnerships to help improve access to a quality education for all. We commend our partners for supporting this effort to give our children and their parents these important academic and financial skills," said Mfume.

"The more information that prospective college students and their families have about financial aid, and the earlier they get it, the more likely they are to attend college," said Susan Corsini, Chairman, The Sallie Mae Fund. “We are proud of this partnership and excited for the opportunity to educate so many families in one day.”

"Test-taking is a learned skill, like athletics and music. The better prepared you are, the better your results will be,” said John Katzman, President and CEO of The Princeton Review. We’ve shown repeatedly that test preparation results in increased scores, and it gives us great pride to be working with the NAACP to help more students reap the benefit of test preparation."

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.

The National Association for the Advancement of Colored People (NAACP), founded in 1909, is the nation's oldest and largest civil rights organization. Its half-million adult and youth members throughout the United States and the world are the premier advocates for civil rights in their communities, conducting voter mobilization and monitoring equal opportunity in the public and private sectors. Visit the Web site www.naacp.org for more information.

The Princeton Review (Nasdaq: REVU) is a pioneer in the world of education. Founded in 1981 and headquartered in New York City, the Company offers classroom and online test preparation, as well as private tutoring to help students improve their scores in college and graduate school admissions tests. The Company's free web site, www.PrincetonReview.com, helps over half of university-bound students research, apply to, prepare for, and learn how to pay for their higher education, and helps hundreds of colleges and universities streamline their admissions and recruiting activities. In addition, The Princeton Review works with school districts around the U.S. to measurably strengthen students' academic skills by connecting ongoing assessment with professional development and instruction and by providing districts with college and career resources for both students and guidance counselors. The Company also authors more than 190 print and software titles on test preparation; college and graduate school selection and admissions; and related topics.