Sallie Mae Unveils New Community CollegeLoans

RESTON, Va. - (04/11/05) -- Sallie Mae announced a new family ofloan products Friday for community college students. The company'sCommunity College Solutions is aimed at the nation's 11 millioncommunity college students at a time when state budget pressuresare forcing many of the schools to raise tuition. The programprovides loans that may be combined with federally guaranteed loansand will include Sallie Mae's Tuition Payment Plan, aninterest-free prorgam that will allow students to spread outtuition payments throughout the school year, instead of makingupfront payments. The company also introduced a ContinuingEducation Loan for students returning to school to pursueprofessional or technical training. Many of these students areenrolled in non-degree programs and are not eligible for federallyguaranteed loans.