icon-contact icon-log-in icon-search menu icon Powering Confidence: Increasing Access and Opportunity Through Higher Education Sallie Mae’s Corporate Social Responsibility Report Download the full report Our CSR report highlights by Sallie Mae® efforts to manage the effects of COVID-19, advance diversity and equality in higher education, serve our customers, invest in the workforce, build stronger communities, protect the environment, and maintain strong governance and ethics. #SocialResponsibility Download the full report 2020 report Providing relief amidst the COVID-19 pandemic As COVID-19 changed the world around us, Sallie Mae moved quickly to help customers and communities and protect the health and safety of team members. Offered customers facing financial difficulties the option to pause loan payments Quickly made investments to safely and securely provide team members access to work from home Donated $1 million to local food banks, resulting in 2 million lbs. of food, 900,000 meals, and PPE for volunteers and workers Advancing equality through higher education The Sallie Mae Fund committed $4.5 million over the next three years to help students from underserved communities access and complete higher education. Refocused The Sallie Mae Fund Bridging the Dream Scholarship program to empower minority students with access to higher education through 75 $10,000 scholarships Launched our new Completing the Dream Scholarship program to provide 780 scholarships over the next three years to help minority students complete their post-secondary education program Committed $1.5 million in grants to support nonprofit organizations helping to advance social justice through education. In 2020, a total of $500,000 was awarded to the following: “A college degree positions students for greater career success and spurs the kind of economic mobility that can change the life trajectory for a student. That’s why we are thrilled to partner with Sallie Mae on this scholarship program.” Dr. Harry L. Williams, President and CEO, Thurgood Marshall College Fund Powering stronger, more resilient communities Giving back to the communities where our team members live, work, and serve is central to who we are. Awarded $2.2 million in grants and scholarships to causes supported by our team members Team members were powered with 6 days of paid time off to volunteer with organizations they care about Awarded grants to organizations like Big Brothers Big Sisters, Junior Achievement, Folds of Honor, and Year Up Wilmington “I volunteered for Big Brothers and Big Sisters of Delaware and was matched to an amazing young man named Michel. He needed some direction and help in life and I was able to provide that for him. I met him at 14 and he is now 23 and an active and outgoing person in our community. Through the years I have been able to help him grow into the amazing young adult he is today. When he turned 18, he took on my name and I’m proud to call him my son.” Andrew Zeltt, Director, Compliance Powering our customers As a leader in private student lending, we’re here to forge a path for our customers to access and complete higher education. Sallie Mae is committed to helping customers make informed choices about higher education. That’s why we provide tools and resources, to customers and non-customers alike, to help ensure students don’t pay more for higher education than necessary. Introduced a simplified way to apply for financial aid making it simpler and faster for students to complete the FAFSA®(and maximize aid before they come to us for private student loans) Connected more than 24,000 students to scholarships covering $67 million in college costs, reducing the out-of-pocket expense for college Offered FREE financial literacy curriculum to high school students Topics include saving, budgeting, financial aid, student loans, and repaying loans responsibly “Financial literacy provides students with a strong foundation of knowledge and confidence in making informed decisions about the future. That future includes planning and paying for higher education, which is one of the first major financial decisions for many students and families. We want families to make these decisions with eyes wide open, and that means providing critical education and information early in the process.” Jen O’Donald, Senior Vice President, Sallie Mae Powering our team members Through a mission-led culture, we’re committed to creating an environment where team members feel appreciated, engaged, and inspired to make a difference. Just as we help customers achieve their goals through higher education, we help our employees on their own professional journeys by providing opportunities to thrive. Provided more than 19,000 hours of primary parental leave and 3,000 hours of secondary parental leave to team members in 2020 Began our process for hiring a Diversity and Inclusion Officer in 2020 putting us on track to create a more inclusive and just workplace 107 team members used our tuition reimbursement benefit in 2020 which provides up to $10,000 for job-related courses or degrees “I’ve had the opportunity to advance my own education through Sallie Mae’s tuition reimbursement benefits, which opened up doors for me to serve on the board of a charity, Pathway Homes, Inc., where I assist with fundraising and strategic oversight.” Patrick Chaing, Associate General Counsel Powering the environmental movement Our team actively manages our environmental impact. We look for ways to reduce our energy use and associated greenhouse gas emissions, procure more sustainable materials, and minimize the amount of waste generated in our offices. We’re also proud to help aspiring environmental change agents prepare for their careers through higher education. reduction in paper usage and waste in 2020 of customers opted to “go paperless” with electronic statements by end of 2020 “By getting the graduate degree in engineering that I always dreamed of, I was able to launch a cleantech startup. I come to work excited every day, forever thankful for the student loans that enabled me to pursue my passion.” Nicholas, CA, Sallie Mae customer “For the past two years, I’ve been working on a solution for global warming. Now as a Funded Futures recipient, I have the opportunity to pay for my provisional patent and see my ideas come to life.” Julia S., Washington and Lee University student, who aspires to be the first African American woman to own an environmental firm Powering responsible and ethical corporate governance We set high standards and expectations for the ethical conduct of our leadership, employees, and business. Carter Franke, the first woman to serve as our Board Chair, was appointed in 2020 Recognized as a 2020 Women on Boards Winning “W” company for the past six years “Higher education is an investment that empowers students’ future opportunities. As the leader in private student lending, our role is to help families make that investment responsibly. Our Board appreciates that our customers’ success yields our company’s success. We are focused and aligned on providing more value to more customers to enable their positive outcomes and bright futures.” Carter Franke, Chair of Sallie Mae Board of Directors Have any thoughts or questions about our CSR program? Please email CSR@SallieMae.com. FAFSA is a registered service mark of U.S. Department of Education, Federal Student Aid Home Investors Corporate governance About us Careers For investors Media Blog Leading research Contests Cosigner responsibilities Partner resources Military resources Contact us FAQs Sitemap Terms of use Protect your privacy Avoid online fraud Beware of debt relief offers Social media guidelines Do not sell my personal information © 2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank are not sponsored by or agencies of the United States of America.