Sallie Mae Offers Financial Aid Analysis on Web Site

Sallie Mae Offers Financial Aid Analysis on Web Site
By Ronald Roach

This spring, college-bound high-school seniors will be getting financial aid award letters from the schools at which they have been accepted. While these letters may seem straightforward, students and parents should be taking a close look at their contents, experts say.

The Student Loan Marketing Association, commonly known as Sallie Mae, is reaching out to assist families in this important phase of the college process with wiredscholar.com, Sallie Mae’s comprehensive online “going-to-college” Web site resource. The Web site offers an Online Award Analyzer to help evaluate financial aid award packages and provide resources for families looking for additional funds.

Typically, financial aid award letters provide students and their families with the amount and types of aid they are eligible for, the funding sources and conditions of the award. Nevertheless, the type and amount of federal aid awarded depends on many factors, including the cost of education, family information provided on the Free Application for Federal Student Aid (FAFSA) and the availability of funds, according to Sallie Mae.

The Sallie Mae Web site, which was named “Best of the Web” four times in the college-planning category by Forbes magazine, hosts information, checklists, calculators and interactive tools that make up the Online Award Analyzer and a free scholarship search to help families make the best decisions when planning and paying for college.

Sallie Mae is the nation’s leading provider of education funding, managing more than $78 billion in student loans for more than seven million borrowers. The company primarily provides federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP), and offers comprehensive information and resources to guide students, parents and guidance professionals through the financial aid process.

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