Sallie Mae Contributes $200,000 to Support College Access at Historically Black Colleges and Universities

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09/25/2024 - 01:30 PM

The Sallie Mae Fund Sponsors HBCU Week College Fairs in Wilmington, Del. And Orlando, Fla. Connecting Students to Free Resources and Scholarships

NEWARK, Del.--(BUSINESS WIRE)-- The Sallie Mae Fund, Inc. today announced it is contributing $200,000 to HBCU Week Foundation, Inc. to support higher education access at Historically Black Colleges and Universities (HBCUs). The Sallie Mae Fund will again be the presenting sponsor for the HBCU Week College Fair in Wilmington, Del., on Sept. 27 and the national HBCU College Fair in Orlando, Fla., on Oct. 24. These events attract thousands of prospective HBCU students and connect students to schools, scholarships, and on-the-spot college acceptances. The Sallie Mae Fund has contributed $500,000 since 2022 to support HBCU Week Foundation college fairs.

“HBCU Week gives students an inside look at the HBCU experience while connecting them to free tools and resources from our partners like Sallie Mae,” said Ashley Christopher, Founder and CEO of the HBCU Week Foundation. “This continues to be a week that changes lives – it provides opportunities for thousands of students and highlights the pride and promise of attending an HBCU.”

As part of the HBCU Week college fairs, The Sallie Mae Fund will also connect students to free tools and resources to make college more accessible and affordable including Scholarship Search by Sallie, Sallie Mae’s free scholarship resource, and the company’s guide to helping families complete the Free Application for Federal Student Aid (FAFSA.) Research from Sallie Mae and Ipsos confirms 88% of HBCU students relied on scholarships and grants to pay for college and average amounts received were 51% higher than families attending other institutions.

“HBCUs reach traditionally underserved and underrepresented students, offering them academic opportunities and a supportive and inclusive environment that nurtures their potential,” said Nic Jafarieh, Executive Vice President, Sallie Mae and Chair of The Sallie Mae Fund. “That’s why events like HBCU Week are so critical and why we must continue to invest in programs that support access and completion at HBCUs.”

In addition to advancing access to HBCUs, Sallie Mae recently announced a $1 million research endowment to leading HBCU - Delaware State University - to support a comprehensive three-year “Persistence and Completion Pilot Program.” The program studies and identifies barriers to degree completion, helps students return to school and complete, and helps advance policy recommendations and best practices to enhance student re-engagement. The company also offers its Completing the Dream Scholarship, which, since 2021, has eliminated nearly $2 million in unexpected costs for students, 98% of whom attend HBCUs.

For more information on Sallie Mae’s free tools, resources, and scholarship programs, visit www.salliemae.com.

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Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. 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.

Category: Community and Philanthropy