NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae, the nation’s No. 1 financial services company specializing in education, announces the winners of the “It Pays to Repay” sweepstakes, created to celebrate customers who successfully make on-time student loan payments each month.
Jennifer Donovan from Plainfield, Ind., Jennifer Duft from Harrisburg, N.C., Erin Caron from Taunton, Mass., and Tiffany Schmitt of Cedar Falls, Iowa, are the four winners of the sweepstakes. In order to be eligible, customers had to be in good standing with a track record of six or more on-time payments. The winners were awarded up to $10,000 to help pay off their education loans.
For the week-one award winner, the prize could not have happened at a better time. “Winning this prize is a real blessing,” Donovan said. “I lost my job one year ago because my position was eliminated. I am working part-time and doing freelance writing work, but my income is not the same. My husband has recently changed jobs and we have a big move coming up.”
Entrants received additional chances to win by submitting a repayment tip and sharing the contest with their friends on social media.
“I set up my auto pay to take $50 more than the loan payment,” said Caron, the third-week winner. “I can easily make up the difference by packing my lunch for work, and every little bit extra you can pay helps pay down the principal.”
Caron, a graduate of Boston University, added this advice for other students: “Select a loan with interest payments during school. Even paying a little bit while you’re still in school makes a huge difference in the long run.”
This year was the second year of the popular sweepstakes with more than 10,000 entries.
“Millions of students and college graduates regularly make on-time student loan payments,” said Temeka Easter, director of social media, Sallie Mae. “Our customers share their personal success stories with us every day. With this sweepstakes, they were able to share those stories directly with others.”
Sallie Mae (NASDAQ:SLM) is the nation’s No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for American families, today serving 25 million customers. With products and services that include Upromise rewards, scholarship search and planning tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.