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Good Financial Habits Can Be Rewarding as College Students Receive $2 Million Cash Back from Sallie Mae for On-Time Payments



  Good Financial Habits Can Be Rewarding as College Students Receive $2
  Million Cash Back from Sallie Mae for On-Time Payments

Business Wire

NEWARK, Del. -- February 20, 2013

Good financial habits can be rewarding for students with the Smart Option
Student Loan from Sallie Mae, the nation’s No. 1 financial services company
specializing in education. By making on-time in-school payments on their Smart
Option Student Loans, Sallie Mae customers have received more than $2 million
cash back awards into their Upromise by Sallie Mae accounts to help them pay
for college. The Smart Reward benefit, introduced in 2010, pays customers 2
percent cash back on their regularly scheduled payment amount when they make
an on-time payment on their Smart Option Student Loan while in college.

“Paying for college is a significant commitment for any family, and in many
cases it is a student’s first opportunity to participate in a major financial
decision,” said Charlie Rocha, senior vice president, Sallie Mae. “We’ve
designed our loan program to promote financial responsibility by encouraging
families not to wait until graduation to start loan payments, even nominal
ones, and rewarding them for it.”

In fact, 56 percent of Sallie Mae’s Smart Option Student Loan customers this
academic year chose to make in-school payments. As a result, they received a
lower interest rate, are eligible for the Smart Reward and are on track to pay
less interest overall than customers who elected to defer payments while in
school.

Rewards for on-time payments go into the student’s Upromise by Sallie Mae
account, and can be used to help pay down his or her eligible Sallie Mae loan,
transferred into an FDIC-insured Sallie Mae High-Yield Savings Account or
turned into a check for expenses like books. Students and their family members
can earn additional rewards making everyday purchases with Upromise. In fact,
Upromise members have transferred more than $17 million to help pay down their
loans since the program began in 2001.

Private education loans are designed to bridge the gap between family
resources, scholarships and grants, federal student loans and the full cost of
a college education. Sallie Mae’s Smart Option Student Loan offers interest
rates among the lowest in the country and choices to help customers save money
and pay off faster than a conventional private loan. Customers are encouraged
to make payments while in school to help minimize finance charges and the
overall cost of the loan, build a credit record and repay their loans faster.

Join the conversation on how to save, plan and pay for college at
Facebook.com/SallieMae

Sallie Mae (NASDAQ: SLM) is the nation’s No. 1 financial services company
specializing in education. Celebrating 40 years of making a difference, Sallie
Mae continues to turn education dreams into reality for American families,
today serving 25 million customers. With products and services that include
529 college savings plans, Upromise rewards, scholarship search and planning
tools, education loans, insurance, and online banking, Sallie Mae offers
solutions that help families save, plan, and pay for college. Sallie Mae also
provides financial services to hundreds of college campuses as well as to
federal and state governments. Learn more at SallieMae.com. Commonly known as
Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or
agencies of the United States of America.

Contact:

Media contact:
Sallie Mae
Debby Hohler, 617-454-6741
dhohler@upromise.com
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