The scholarship is one of seven Sallie Mae
will award to deserving high school juniors and seniors this fall.
SmartyPig is Sallie Mae
's free, FDIC-insured savings account with competitive rates of up to 1.45 percent annual percentage yield (APY).
The payout announced May 13 settles claims that Sallie Mae
violated the Servicemembers Civil Relief Act by overcharging enlisted borrowers.
This action results from an examination of Sallie Mae
by the FDIC regarding Sallie Mae
's compliance with federal consumer protection statutes, including Section 5 and SCRA, and a companion investigation by the Department of Justice (DOJ) related to the treatment of servicemembers.
The business's principal assets are seen to include USD118.1bn (EUR91.3bn) in FFELP loans, USD31.6bn in private education loans and USD7.9bn of other assets, Sallie Mae
(NYSE: SLM), the largest US financial services company specialising in education, has named Paul Thome as president of the Sallie Mae
Bank, which focuses on originating and funding private education loans countrywide.
The "Next Level" scholarship competition will award $25,000 in Sallie Mae
Fund scholarships to deserving students.
Its stock price has gone up nearly 2000 percent since 1995, but "60 Minutes" recently asked a pertinent question: "Does Sallie Mae
's success come at too steep a cost to taxpayers and students?"
By season's end, the team had racked up $92,000 worth of home runs for the fund, with Sallie Mae
adding $8,000 to bring the total to an even $100,000.
officials began to look at offerings from a few different companies, including SPSS and SAS.
For the class of 2002, the most current information available, the median student debt was $16,500, according to Sallie Mae
, the nation's leading provider of education funding.
The Buffalo News article notes that the grant came from the Sallie Mae
Fund, a charitable organization of Sallie Mae