RESTON, Va., March 28, 2008—Through a special U.S. Senate resolution, April has again been declared national Financial Literacy Month, and Sallie Mae, the nation’s leading saving- and paying-for-college company, reminds consumers that it is never too early—or too late—to learn the skills they need for effective money management.

“In the midst of a national credit crunch, financial literacy takes on increased significance,” said Martha Holler, spokesperson, Sallie Mae. “Budgeting your money, borrowing wisely and weighing your best options for college payment can help families save on the cost of college and avoid long-term financial stress.”

Sallie Mae is committed to promoting financial literacy and smart money management, and recommends the following resources for students and families eager to make sound fiscal choices:

TuitionPay
Sallie Mae's TuitionPay plan is an interest-free payment option that allows students to pay tuition in installments. Most schools send out tuition bills for the cost of the entire term and that are due in full. The TuitionPay plan takes the student’s bill and splits it into smaller amounts, payable over a number of months, with no interest charged. These plans enable families to reduce or minimize education-related debt by using current income to pay for education costs. TuitionPay is offered at more than 1,500 schools nationwide. (www.TuitionPay.com)

Be Debt Savvy
Sallie Mae’s educational 'Be Debt Savvy' campaign provides consumers with various tools and resources that encourage smart borrowing and recommend ways to establish and maintain good credit through responsible financial habits. The 'Be Debt Savvy' Web site offers free resources designed to educate consumers from high school through college graduation and beyond. (www.SallieMae.com/BeDebtSavvy)

529 College-Savings Plans
529 college-savings plans administered by Upromise Investments, Inc. allow individuals to save money in a tax-deferred account to be used for higher education costs. Money can be withdrawn at any time, and money that is used for qualified higher education expenses are free of federal income tax. Today, families have more than $100 billion invested in 529 plans across the country. (www.529.com)

Scholarships
CollegeAnswer.com, Sallie Mae’s planning- and paying-for-college Web site, makes it simple for families and students to do their homework and search for 'free money'—grants and scholarships—to pay for college. The Web site gives students free access to the largest online scholarship search service, with a database containing more than 2.8 million scholarships worth in excess of $16 billion. (www.CollegeAnswer.com)

The Sallie Mae Fund
Sallie Mae sponsors The Sallie Mae Fund, a charitable organization dedicated to opening doors to higher education. The Sallie Mae Fund provides $2 million in college scholarships each year, such as the American Dream Scholarship and the First in My Family Scholarship, which are currently accepting applications through an April 15 deadline. Other resources from The Fund include “Black College Dollars” and “Latino College Dollars” scholarship directories, the “Saving for College” guide, and the award-winning publication “Mission: Possible,” a toolkit that helps families plan and pay for college. (www.salliemaefund.org)

For more information contact:
Beth Guerard (703) 984-5621