January 9, 2006

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A weekly publication for the BGSU community

Partnership with Sallie Mae produces new student loan program

Through a new loan agreement between BGSU and the SLM Corp. (“Sallie Mae”), the average Bowling Green student who borrows over four years can save $7,000 in repayment over the life of the loan, compared to the lowest rate offered previously by the University, Student Financial Aid officials estimate.

BGSU chose Sallie Mae to assist in providing private loan financing for its students based on the comprehensive financing and a service package that provides student borrowers with one-stop-shopping simplicity, according to financial aid Director Craig Cornell.

Last year, the University awarded $26.5 million in alternative loans to more than 3,800 students.

"We are very excited to have partnered with Sallie Mae in the development of our new BGSU Signature Loan," Cornell said. “Through the RFP (request for proposal) process, Sallie Mae was able and willing to meet our specific campus population needs in developing a program for us. We will now be able to offer our students and their families the best private alternative loan program I am aware of.”


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