Sallie Mae Introduces Education Initiative for Hispanic Communities

Sallie Mae has introduced a new program to raise Hispanic family awareness of postsecondary education and funding opportunities. The initiative has three prongs: a comprehensive book in Spanish, a radio awareness campaign, and a scholarship fund for Hispanic students who are the first in their family to pursue post-secondary education.

The program, announced by The Sallie Mae Fund, was developed in partnership with the Hispanic College Fund, Inc.; the Latino Education Achievement Project; and the Hispanic Radio Network's Self-Reliance Fund.

"Minorities are the work force of the future and their education is imperative," said Albert Lord, chief executive officer of Sallie Mae, the nation's largest provider of education loans.

"Unique barriers are responsible for the fact that only 12 percent of Hispanics earn a college degree, a figure that falls below the national average. The Sallie Mae Fund is committed to eliminating those barriers and raising the awareness of educational opportunities in the Hispanic community," Lord said.

The Sallie Mae Fund is the philanthropic arm of Sallie Mae's parent, USA Education, Inc. Spanish-language financial aid guide. The publication component includes underwriting the cost of initial production of 40,000 copies of a Spanish guide to higher education financial aid funding options.

The book will be distributed to college financial aid country and will be made available to the general public at no cost through a toll-free number, 866/858-7166.

"By producing and distributing an easy-to-understand resource on paying for college, Sallie Mae is knocking down the cultural and language barriers that have prevented many Hispanic students and their families from pursuing higher education," said Marc Robinson, co-founder, Latino Education Achievement Project.

Hispanic scholarships

Through a grant to the Hispanic College Fund, The Sallie Mae Fund will offer college scholarships to Hispanic youth who are the first in their family to attend college. The "First in My Family" scholarships will range from $500 to $5,000. Applications are available through wiredscholar, which is sponsored by Sallie Mae, or by calling the Hispanic College Fund at 800/644-4223.

"The scholarship program being announced today by The Sallie Mae Fund is a powerful and effective illustration for the Hispanic community that college can be an affordable option," said Idalia Peņa, program manager for the Hispanic College Fund Radio and newspaper. During October 22 through November 4, Hispanic Radio Network (HRN) will air public service messages on its popular show Camino al Exito/The Road to Success. In addition, a public service ad will be distributed by HRN to 70 Spanish newspapers, reaching 3.2 million readers.