News Releases

Sallie Mae Fund Contributes Funds To Assist Hurricane Sandy Victims

Sallie Mae Offers Funds, Supplies and Customer Assistance

NEWARK, Del., Nov. 6, 2012 — The Sallie Mae Fund, a charitable organization sponsored by Sallie Mae, and Sallie Mae, the nation's No. 1 financial services company specializing in education, today announced a $250,000 contribution to the American Red Cross Disaster Relief Fund to assist families and communities affected by Hurricane Sandy. The funds will be directed toward relief and rebuilding efforts to help hurricane victims return to their daily lives.

"The stories of devastation and despair move us deeply, so do the many stories of American heroism, community and resilience," said Albert L. Lord, vice chairman & CEO, Sallie Mae. "Our thoughts and prayers are with those now focused on repairing, rebuilding and moving forward."

In addition, employees from Sallie Mae's servicing centers in Newark, Del.; Lake City, Fla.; Fishers and Muncie, Ind.; Newton, Mass.; Kansas City, Mo.; Moorestown, N.J.; Arcade, Horseheads and Perry, N.Y.; Cincinnati, Ohio; Wilkes-Barre, Pa.; Murray, Utah; and Reston, Va.; are contributing personal donations, which will also be forwarded to the American Red Cross.

Sallie Mae is also working with its student loan and banking customers impacted by the storm. As a matter of practice, Sallie Mae offers a 15-day payment grace period. Recognizing that still may not be enough to assist some customers affected by this natural catastrophe, the company will waive certain payment fees and delay payment due dates. Customers experiencing difficulty are encouraged to reach out when they are able so that customer care representatives may assist them.

In addition, Sallie Mae Bank is waiving early withdrawal fees on CDs, wire transfer fees, and other transaction fees for retail banking customers in affected areas.