Upromise(R) Helps Families Pay for College during Tough Economic Times

National Upromise Scholarship to Help 100 Deserving Students
Achieve Educational Aspirations
NEWTON, Mass.--(Business Wire)--
With the issue of college affordability weighing on the minds of
many members of the largest high school graduating class in U.S.
history, Upromise, Inc. today announced the recipients of its first
$250,000 scholarship program. Based on a combination of merit and
need, 100 Upromise Scholarship recipients have been selected to
receive $2,500 grants for college tuition for the 2008-2009 academic
year. The scholarship program was created as an extension of
Upromise's goal to make higher education more attainable and to serve
as a reminder of the many educational and financial resources
available.

"Too often affordability becomes a barrier to education. We
encourage families to save for college, but most people still need
help bridging the gap," said David Rochon, President, Upromise. "In
its first year, the Upromise Scholarship will directly help 100
students achieve their dream of college by alleviating a portion of
their financial burden."

From California to North Carolina, 100 hard-working students
across the nation are one step closer to realizing their dream of a
higher education. The scholarship program will provide $250,000 in the
size of $2,500 grants to 100 deserving students for the 2008-09
academic year. To qualify, students needed to be a Upromise member or
child of a Upromise member (membership is free at Upromise.com), have
a household income of $65,000 or less and a minimum cumulative grade
point average of 3.0 on a 4.0 scale. Recipients are high school
seniors or graduates enrolled for the approaching academic year or are
already enrolled in full-time undergraduate study at an accredited
two-year or four-year college, university or vocational-technical
school. For a complete listing of scholarship recipients, visit
www.upromise.com/scholarship.

The Upromise Scholarship was created with lead sponsor Bed Bath &
Beyond(R) and support from Canon eStore, MasterCard(R), Rewards
Network and 1-800-FLOWERS.COM(R).

About Upromise

Launched in April 2001, today Upromise is the largest private
source of college funding contributions in America, with more than 8.5
million members and $425 million in member rewards. Membership is free
and can help families save money for college while making everyday
purchases of products and services at more than 21,000 grocery and
drug stores, 14,000 gas stations, 8,000 restaurants, as well as
thousands of retail stores, and more than 600 online shopping sites.
Upromise partners include Citi(R), ExxonMobil Corporation, Bed Bath &
Beyond(R), McDonald's(R), JCPenney.com, LandsEnd.com, Sears.com, and
hundreds of others. Upromise also makes it easy for families to start
their own college savings strategy through tax-advantaged 529 college
savings plans offered through Upromise Investments, Inc. or by using
Upromise contributions to help pay down eligible student loans.
Upromise is a wholly owned subsidiary of SLM Corporation (NYSE: SLM),
commonly known as Sallie Mae, the nation's leading provider of
saving-and-paying-for-college programs. Upromise is headquartered in
Newton, Mass., and has more than 350 employees. For additional
information visit www.Upromise.com.

Upromise, Inc.
Debby Hohler, 617-454-6741
or
Mullen for Upromise
Angela Giovanello, 978-468-8921

Copyright Business Wire 2008