High School Seniors: Get Your FAFSA In Today To Qualify For Free Money From Your...

High School Seniors: Get Your FAFSA In Today To Qualify For Free Money From Your State

More Than One-Third of State Financial Aid Deadlines Are in March
and April
RESTON, Va.--(Business Wire)--Sallie Mae, the nation's leading saving- and paying-for-college
company, advises high school seniors to fill out the Free Application
for Federal Student Aid (FAFSA) now. The FAFSA is a student's starting
point for applying to most financial assistance programs. Students
need to apply before their state's deadline to ensure they do not miss
out on state grants - free money - to help pay for college.

Many state deadlines are fast approaching, and aid may be awarded
on a first-come-first-served basis. Students should note the following
deadlines and complete their FAFSA before these dates:

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*T
Feb. 15: Connecticut
March 1: Maryland, Michigan, Missouri, Montana, Rhode Island,
Tennessee, West Virginia
March 2: California
March 10: Indiana
March 15: Idaho, Kentucky, North Carolina, North Dakota
March 31: Mississippi
April 15: Arkansas, Delaware
*T

Last year, approximately $150 billion in college financial aid was
awarded. Students can get money for college in the form of grants,
scholarships, work-study programs and student loans. A recent study
suggests nearly 2 million students missed out on free money to pay for
college simply because they did not apply.

Students and their parents can complete the FAFSA application on
the Web in as little as an hour or two. To begin, students and parents
should go online to www.fafsa.ed.gov and request a PIN from the U.S.
Department of Education. With a PIN, students and parents can apply
and "sign" the FAFSA online, check the status of the submitted FAFSA,
and make corrections. Gathering relevant documents and information -
including Social Security Number or alien registration card, driver's
license, latest federal income tax return, W-2 forms, bank statements
and investment information - will reduce the time it takes to complete
the application.

Sallie Mae's award-winning CollegeAnswer.com Web site has free
tools and information to simplify the application process and to help
families navigate the financial aid process. Resources include sample
FAFSAs in both English and Spanish, a list of state financial aid
deadlines and a three-minute FAFSA podcast which can be downloaded to
an MP3 player or computer. CollegeAnswer.com also contains the largest
free online scholarship database, containing more than 2.8 million
scholarships worth over $16 billion. Visit www.CollegeAnswer.com/fafsa
for more information.

Sallie Mae advises students and parents to use the following 1-2-3
approach when saving for college via tax-advantaged 529 savings plans
(such as www.Upromise.com) and using interest-free tuition payment
plans (such as www.TuitionPay.com) are not enough to cover the full
cost of a college or university degree:

1. Find free money first. Apply for financial aid that does not
have to be repaid, such as scholarships and grants, by completing the
FAFSA.

2. Consider federal student loans. Consider borrowing under the
federally subsidized student loan programs, which provide
consumer-friendly loan rates, benefits, and repayment options for
students and parents. Parents and graduate/professional students can
borrow up to the cost of attendance under the Parent PLUS and Graduate
PLUS programs, respectively.

3. Use private student loans to fill any remaining funding gap.

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 $160 billion in education loans and serves nearly
10 million student and parent customers. Through its Upromise
affiliates, the company also manages $19 billion in 529
college-savings plans, and 8 million members have joined Upromise to
help save for college with rewards on purchases at nearly 70,000
places. 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.

Sallie Mae
Erica Eriksdotter, +1-703-984-5628
Erica.Eriksdotter@SallieMae.com
or
Martha Holler, +1-703-984-5178
Martha.Holler@SallieMae.com

Copyright Business Wire 2008