RESTON, Va., Aug 03, 2009 (BUSINESS WIRE) ----In these economic times, families of college students might find themselves with less money in their pockets to pay this fall's college tuition. Sallie Mae, the nation's leading saving, planning and paying for education company, offers several affordable options available in time to meet the cost of higher education.
"When times are tight, a college degree continues to pay long-lasting dividends," said Albert L. Lord, vice chairman and CEO, Sallie Mae. "With unemployment for college graduates at half that of the population at large, a college degree remains one of the best investments a family can make. The good news is that there is a variety of options to help cover the cost."
Sallie Mae's free Education Investment Planner, available at www.SallieMae.com/invest, can help college-bound students and their families compare the costs of 5,500 colleges and universities, build a customized plan to pay for college, and explore various funding options.
After maximizing scholarships, grants and federal student loans, Sallie Mae advises families to consider these solutions to a last-minute college financing gap:
-- Tuition Payment Plans
Tuition payment plans are available at hundreds of college campuses and offer families an alternative to making a large, lump-sum payment due at the start of the term. Sallie Mae's TuitionPay is an interest-free, monthly installment option that saves families money by reducing the amount they need to borrow and allows families to more easily use their current income for education expenses. Visit www.SallieMae.com/tuitionpay for more information.
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