Sallie Mae Donates $1 Million to Food Banks to Support Those Affected by COVID-19

Contribution From The Sallie Mae Fund Will Provide Funding to Five Food Banks Where Sallie Mae Employees Live, Work, and Serve

NEWARK, Del.--(BUSINESS WIRE)--COVID-19 continues to present new challenges in communities across the country, including providing critical services and food supplies to the most vulnerable populations. In response, The Sallie Mae Fund, the charitable arm of Sallie Mae, today announced a total of $1 million in donations to food banks in Delaware, Indiana, Massachusetts, Utah, and Virginia.

The Sallie Mae Fund’s contributions will support food banks in states home to Sallie Mae facilities and where the company’s nearly 2,000 employees live, work and serve. The Food Bank of Delaware, Gleaners Food Bank of Indiana, Inc., The Greater Boston Food Bank, Utah Food Bank, and Loudoun Hunger Relief, Inc. in Virginia each will receive $200,000 from The Sallie Mae Fund.

“We are so thankful that The Sallie Mae Fund is assisting our efforts to make sure vulnerable Delaware populations have access to food during this crisis,” said Food Bank of Delaware spokeswoman Kim Turner. “For thousands of low-income Delawareans accessing enough food is difficult during normal circumstances. The public health crisis is making food access even more stressful and worrisome. The Food Bank of Delaware’s network of partner organizations stand ready to assist our community’s most vulnerable.”

The contributions to the area food banks will support each organization’s on-going emergency response efforts to combat food insecurity for families in our local communities who have been affected by COVID-19. Food banks across the country are on the front lines and showing extraordinary adaptability in the face of an ever-changing landscape.

“Our food banks are a lifeline to our communities’ most vulnerable residents and during these uncertain times, they’ve taken an unprecedented hit from increased demand,” said Raymond Quinlan, Chairman and CEO, Sallie Mae. “Coming together to support our neighbors in need is essential right now. This investment will help these vital organizations continue to provide food and other assistance as we respond to and manage through this pandemic.”

Sallie Mae is also assisting customers in need and taking care of the employees who serve them. Sallie Mae customers who are experiencing hardship due to COVID-19 can request to temporarily postpone payments for three months. The company modified operations to enable social distancing and remote working capabilities with as little disruption to customers as possible.

These actions, including The Sallie Mae Fund’s grants to area food banks, are just a few examples of Sallie Mae’s commitment to its core values: Connect, Thrive, Do Right, Dare to Do, and Make a Difference. Sallie Mae’s efforts to live those values are highlighted in its forthcoming Corporate Social Responsibility report, “Serving Students and Families: Supporting Dreams and Building Prosperous Futures.”

For more information about Sallie Mae’s efforts in the community, visit SallieMae.com. For resources and information about Sallie Mae’s response to COVID-19, visit salliemae.com/coronavirus.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. 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.

The Sallie Mae Fund, the charitable arm of Sallie Mae, expands pathways for the successful development of youth, works to open doors to higher education, and supports employee volunteerism and communities, including those where Sallie Mae employees live and work.  Since 2014 alone, it has awarded nearly $3.5 million in grants to local nonprofit organizations.