Sallie Mae Awards 11-Year-Old Gracie Maddox $25,000 on The 'Dr. Phil' Show to Help Pay for College

Sallie Mae Awards 11-Year-Old Gracie Maddox $25,000 on The 'Dr. Phil' Show to Help Pay for College

Education Award Granted to Winner in the Finale of 'Make My Kid a Star' Series

RESTON, Va., May 22 /PRNewswire/ -- Sallie Mae, the nation's leading saving- and paying-for-college company, awarded $25,000 to 11-year-old Gracie Maddox on "Dr. Phil" to help pay for her college education. The presentation is part of Sallie Mae's ongoing awareness campaign to remind students and families that college is possible. Dr. Phil McGraw presented the award to Gracie on behalf of Sallie Mae for winning the show's "Make My Kid a Star" grand prize.

(Logo:

http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a )

"Sallie Mae has helped millions of Americans reach their dream of a higher education," said the host of "Dr. Phil," Dr. Phil McGraw. "This is an amazing investment in Gracie's future."

Gracie became interested in show business at an early age. Last year, Gracie's mom, Kiki Wallace, took a big risk to make her daughter's dream come true by picking up and moving to Los Angeles, taking on a significant debt burden to help her daughter pursue her acting career. Her sacrifice seems to have paid off.

"I can't thank Dr. Phil or Sallie Mae enough for making sure Gracie will have the opportunity to continue to pursue her passions, which include a higher education," said Kiki. "Right now, Gracie has her sights set on the University of Cincinnati or Julliard. With Gracie winning the scholarship, I feel that whatever happens from here on out has been worth the effort. Gracie and I learned a lot during the competition, and it was an experience that we will never forget."

Sallie Mae will deposit the check for $25,000 into a Upromise-administered 529 college savings plan account established for Gracie's benefit. This 'nest-egg' will continue to grow until it is time for Gracie's family to begin to pay for her college education. Named after Section 529 of the IRS tax code, 529 college savings plans are state-sponsored investment plans in which the assets grow free of federal taxes. Money in 529 plans can be withdrawn tax-free, provided the funds are used to pay for qualified higher education expenses, including room and board, tuition, books, supplies and other fees. Upromise Investments currently offers 16 different 529 plans sponsored by nine states. Across America, more than 1.3 million families have accumulated $17 billion toward future college expenses in plans administered by Upromise.

"Gracie is a very talented young woman, and Sallie Mae is delighted to help her grow into her dream," said Martha Holler, spokesperson for Sallie Mae. "A college education is an investment in your future. We are pleased to make this investment in Gracie, and we hope it will encourage others to save for college and follow their dreams."

The syndicated series, "Dr. Phil," was created by Harpo Productions, produced by Peteski Productions in association with CBS Television Distribution. It is broadcast on over 212 stations representing 99.9 percent of the national market. Since its debut in September 2002, the series has been ranked second in the talk show category, and consistently ranks among the Top Ten of all syndicated strips, according to NSS Ranking Report.

SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, is the nation's leading provider of saving- and paying-for-college programs. The company manages $150 billion in education loans and serves nearly 10 million student and parent customers. Through its Upromise affiliates, the company also manages $17 billion in 529 college savings plans. More than 7.5 million people have joined Upromise (www.upromise.com) to help save for higher education by taking advantage of nearly 70,000 college savings opportunities on everyday purchases. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at www.salliemae.com.

SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

First Call Analyst:
FCMN Contact:

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a
AP Archive:

http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com
Source: Sallie Mae

CONTACT: Beth Guerard of Sallie Mae, +1-703-984-5621,
beth.guerard@salliemae.com

Web site:

http://www.salliemae.com/

Company News On-Call:

http://www.prnewswire.com/comp/827187.html

-------
Profile: intent