Sallie Mae 2000 Annual Report Download - page 5

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taxpayer-subsidized and private-credit products. Sallie Mae
thrives when faced with the challenge of investing private
capital to bring these service solutions to our customers.
We join many others in helping students invest in their
higher education dreams, thereby fulfilling the public’s desire
for a better-educated America. In fact, Sallie Mae provided
more than $20 billion of education capital in 2000. Sufficient
capital is one challenge, but so is finding an appropriate mix
of capital resources for each student, whether they be in the
form of scholarships, grants, work-study funds or loans. The
financial aid community serving our nation’s higher education
institutions confronts this maze day in and day out. They
are truly higher education’s unsung heroes.
In 2000, we completed our full-service retail evolution
by joining forces with USA Group. Consequently, Sallie Mae
“In 2000, we completed our
full-service retail evolution by
joining forces with USA Group.
Consequently, Sallie Mae is now
the principal provider of student
loan guarantee services in
America. Indeed, with the USA
Group merger, the service picture
for our customers is now com-
plete—with capabilities in place
for every aspect of the loan
delivery cycle.”
Value like never before
Award Package: Schools send financial aid pack-
ages to prospective students, providing information
about the type and amount of aid for which they
qualify. Aid may include a combination of grants,
work-study, scholarships and loans.
School Selection: College-bound students
must select a school by evaluating and comparing
acceptance and award letters, including the entire
financial aid award package.
Loan Application: Students who decide to take
out a loan to help pay for school must sign a
lender’s promissory note, which their school of
choice then submits for approval.
Federal Guarantee: A guarantor
approves the loan, provides the federal
guarantee and directs the lender to
proceed with loan disbursement.
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6
3
Albert L. Lord
Vice Chairman and
Chief Executive Officer