WICHITA, Kan., Aug 26, 2008 (BUSINESS WIRE) -- Paying for college just got a whole lot easier for Beverly Anderson of
Wichita, Kansas. Sallie Mae, the nation's
leading provider of education funding, today announced that Anderson has
won the company's Parent Answer Sweepstakes,
an annual giveaway that rewards a parent of a college student with a
$10,000 scholarship.

Anderson will use the money to pay tuition for Laura, the older of her
two daughters, who is entering her sophomore year at Kansas State
University. Although Laura earned a good deal of scholarship money for
her freshman year, Anderson says those scholarships were non-renewable,
and her family was starting to feel the pressure to come up with the
remaining funds. Anderson explains that while she used savings plans for
both of her daughters, she often wondered if the plan she developed
would meet her children's higher education
needs. The full interview with Anderson, as well as her tips for parents
with college-age children, is available online at www.SallieMae.com/parents.

"This is so exciting,"
said Anderson. "It couldn't
be anything better than something to help pay for Laura's
education. This is a major event in our family."

In its sixth year, the Parent Answer Sweepstakes is open to parents who
have one or more children under the age of 24 who will be enrolled in
college for the upcoming academic year. To enter the Parent Answer
Sweepstakes, go to www.SallieMae.com/parents
for a complete list of program terms and conditions. Simply click on "Sign
Up" to enter for your chance to win!

Sallie Mae's Parent Answer Sweepstakes is
part of the company's dedication to helping
students and families to follow a 1-2-3 approach to paying for college:
first, use free money such as scholarships and grants; second, fully
explore federal student loans; and third, fill any remaining gap with
private student loans.

To learn more about the parent PLUS loan, a federally sponsored loan
that allows parents of dependent, undergraduate students to finance
their unmet financial need, up to the full cost of education, as
certified by the student's school, please
visit www.SallieMae.com/ParentPLUS.
Federal PLUS Loans carry a fixed interest rate of 8.5%, regardless of
the customer's credit history, income, assets
or collateral. The loan may be used to cover education expenses in
addition to tuition, including room, board, books, supplies and even
travel.

New federal legislation has made qualifying for PLUS loans easier this
year as borrowers may be up to 180 days late on payments on their
primary mortgage or medical bills and still qualify. Also new this
school year: Parents with new PLUS loans may postpone making payments
until six months after their beneficiary student completes college or
drops below half-time status. In addition, Sallie Mae assists parents
who do not immediately qualify for a PLUS loan in resolving outstanding
or erroneous credit issues.

SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, is the
nation's leading provider of saving- and
paying-for-college programs. The company manages nearly $172 billion in
education loans and serves 10 million student and parent customers.
Through its Upromise affiliates, the company also manages more than $19
billion in 529 college-savings plans, and is a major, private source of
college funding contributions in America with 9 million members and $425
million in member rewards. Sallie Mae and its subsidiaries offer debt
management services as well as business and technical products to a
range of business clients, including higher education institutions,
student loan guarantors and state and federal agencies. More information
is available at www.SallieMae.com.
SLM Corporation and its subsidiaries are not sponsored by or agencies of
the United States of America.

SOURCE: Sallie Mae

Sallie Mae 
Amanda Holt, +1-703-984-6102 
amanda.holt@salliemae.com

Copyright Business Wire 2008