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Press release from GlobeNewswire (a Nasdaq OMX company)

Upromise by Sallie Mae Launches 5 Percent Cash Back for College to Accelerate Member Savings

Tuesday, April 10, 2012

Upromise by Sallie Mae Launches 5 Percent Cash Back for College to Accelerate Member Savings08:03 EDT Tuesday, April 10, 2012Earn More When Shopping at Upromise.com Company Sets Goal to Help Families Collectively Save $1 Billion for Higher Education NEWARK, Del., April 10, 2012 (GLOBE NEWSWIRE) -- Upromise by Sallie Mae announced today it will reward families saving for college with increased cash back rewards of 5 percent or more on Upromise Online Shopping purchases at hundreds of major retailers at Upromise.com, delivering on two customer requests – simplification and increased rewards for college. "As a doctor I fully understand the value and expense of education and that every little bit of savings adds up," said Ray Tsai, from Irving, Texas, who has saved more than $2,600 through Upromise. "Saving for my two children's higher education is a challenge. Everyday spending through Upromise helps bring me closer toward my savings goals and reminds me of the importance of saving." By starting at Upromise.com, members making Upromise Online Shopping purchases will earn rewards of 5 percent or more on eligible purchases. The website was recently redesigned to make it even simpler for shoppers to earn more rewards every day at online retailers such as Walmart.com, BestBuy.com and Sears.com. "Especially in this economy, a college degree continues to be the ticket to higher earnings and employability," said John Ward, senior vice president, Sallie Mae, the nation's No. 1 financial services company specializing in education. "Upromise by Sallie Mae has helped millions of families earn more than $670 million in savings, and we're committed to helping them reach the collective goal of $1 billion in cash back for college. With wise college choices and saving early and often, families can save a significant portion of the tuition bill." In addition to earning rewards through Upromise Online Shopping, members can also earn cash for college with Upromise by Sallie Mae by dining out, booking travel, buying gas and purchasing other services. Upromise members can use their earnings in one of four ways: transfer into 529 college savings plans administered by Upromise Investments, pay down an eligible Sallie Mae-serviced student loan, deposit into an FDIC-insured Sallie Mae High-Yield Savings Account offered through Sallie Mae Bank, or request a check. Learn more or join for free at www.upromise.com Join the conversation on how to save, plan and pay for college at Facebook.com/SallieMae and Facebook.com/Upromise.Sallie Mae (Nasdaq:SLM) is the nation's No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, tuition insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. 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. The Sallie Mae logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12346CONTACT: Media: Debby Hohler, (617) 454-6741, dhohler@upromise.com