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Sallie Mae’s Latest Corporate Social Responsibility Report Highlights Commitment to Customers, Communities, Employees, and the Environment
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Sallie Mae (Nasdaq: SLM) has awarded nearly $2 million in scholarships and grants to students and social justice nonprofits. Key highlights include $1 million in scholarships for minority and underserved students through the Thurgood Marshall College Fund and $250,000 for nonprofits aiding Hispanic and LGBTQ+ students. The company has increased volunteerism by 31%. In its Corporate Social Responsibility Report, Sallie Mae emphasizes supporting higher education access and offering numerous resources, with over 24,000 students benefiting from its scholarship search tool covering $67 million in costs.
Positive
Awarded nearly $2 million in scholarships and grants.
$1 million in scholarships specifically for minority students.
$250,000 allocated to nonprofits focused on social justice.
Increased volunteerism by 31%.
Negative
None.
Company Awarded Nearly $2 Million in Scholarships and Grants to Students, Social Justice Focused Non-Profits, and Community Partners; Increased Volunteerism by 31%
NEWARK, Del.--(BUSINESS WIRE)--
Sallie Mae® (Nasdaq: SLM) today released its annual Corporate Social Responsibility Report, “Powering Confidence: Increasing Access and Opportunity Through Higher Education.” The report highlights the company’s continued commitment to environmental, social, and governance best practices through consistent focus on its customers, team members, and communities.
Snapshot of Sallie Mae’s 2021 Corporate Social Responsibility Report highlighting commitment to customers, employees, and communities. (Graphic: Business Wire)
Sallie Mae supports access and completion of higher education through its charitable arm, The Sallie Mae Fund. Specifically, the company awarded nearly $1 million in scholarships to minority students and those from underserved communities as part of its ongoing partnership with Thurgood Marshall College Fund. Over the course of three years (2021-2023), $3 million in scholarships will be awarded to students through The Sallie Mae Fund’s Bridging the Dream Scholarship Program. Additionally, the company provided $250,000 to support nonprofits focused on eliminating barriers for Hispanic and LGBTQ+ students, part of the company’s broader $1.5 million commitment to advance social justice in higher education.
The company is also dedicated to filling confidence gaps, and helping students and families make informed decisions about college and their future. Sallie Mae offers any and all students and families free and accessible tools and resources, including scholarship search tools, tutoring support, money management, and budgeting tools, and internship and career guidance after college. In fact, more than 24,000 students earned a scholarship through the company’s free scholarship search tool, collectively covering $67 million in college costs.
“While our primary business is to offer private student loans to finance any gaps after scholarships, grants, and federal financial aid, our mission is much broader: we are powering confidence as students begin their unique journey in higher education,” said Jon Witter, CEO, Sallie Mae. “We know higher education is a great equalizer and a proven pathway to economic mobility and those doors should be open to all students. We’re focused on doing just that by providing free tools, resources, and scholarships to help students — particularly those from underserved communities — access and complete college. Our commitment also extends to the communities where our diverse team members live, work, and serve. These efforts are foundational to being a good corporate citizen and a great place to work.”
Sallie Mae supports its more than 1,400 team members through ongoing professional development and empowers them to bring their full selves to work each day. More than 100 team members took advantage of the company’s generous tuition reimbursement program last year, and the company also paid nearly $350,000 to fully vaccinated team members as part of its COVID-19 vaccination incentive program. Additionally, the company welcomed Chief Diversity Officer Lori Aiken and formed a Diversity Council.
Learn more and access Sallie Mae’s Corporate Social Responsibility Report at www.salliemae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
