SLM Corporation : Upromise by Sallie Mae Launches New Credit Card Rewards with the Ability to Earn 10 Percent or More Cash Back for College

Card Now More Rewarding at Hundreds of Retailers at Upromise.com

Saving for college just became easier and more rewarding with increased benefits from Sallie Mae's new Upromise World MasterCard, now issued by Barclaycard US.

Sallie Mae, the nation's No. 1 financial services company specializing in education, partnered with Barclaycard US, the payments business of Barclays in the United States, to enable Americans to benefit from credit card rewards in a meaningful way with increased cash back for college:

• 5 percent cash back for college on eligible online purchases at hundreds of major online retailers through Upromise.com
• 4 percent cash back at thousands of Upromise Dining restaurants
• Up to 3 percent cash back on eligible gas purchases at Exxon or Mobil locations
• 2 percent cash back at eligible movie theaters
• 1 percent on everything else

"Saving for college can be daunting, and frequently the hardest part is just getting started," said Joe DePaulo, executive vice president, Sallie Mae. "Sallie Mae makes it easy to start saving early and each time you make everyday purchases. Together with smart planning, saving regularly can add up to help make the investment in college possible."

There is no annual fee for the card, no cap on earnings and no minimum spend requirements. Upromise members can earn 5 percent or more cash back for college when they make eligible online purchases through Upromise. Coupled with the new benefits of the Upromise World MasterCard, new cardholders can earn a total of 10 percent or more cash back on those same purchases. In addition, the new Upromise World MasterCard offers cardholders a number of unique features and benefits to enhance the shopping and travel experience, ranging from price protection and extended warranties to travel assistance.

"Saving for college is now just as easy as counting to five," said Surinder Singh, general manager-US Cards, Barclaycard US. "The new Upromise card is an excellent way for families to complement their existing college savings activities in an easy-to-use and easy-to-understand way. By using the card every day for household purchases, families can accelerate their savings and really see the benefit accumulate."

Existing Upromise cardholders will continue to earn cash back for college with their current card and receive a new Upromise World MasterCard with the new rewards structure this fall.

Upromise by Sallie Mae is free to join and members have earned more than $675 million in cash for college since 2001. Money earned from everyday spending is accumulated in a Upromise account and can be invested in a tax-deferred 529 college savings plan, deposited into a Sallie Mae High-Yield Savings Account, used to help pay down an eligible Sallie Mae student loan, or sent to the member in the form of a check.

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 its 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, tuition 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.

Headquartered in Wilmington, Del., Barclaycard US creates customized, co-branded credit card programs for some of the country's most successful travel, entertainment, retail, affinity and financial institutions. The company employs 1,300 associates. For more information please visit www.barclaycardus.com.

Sallie Mae
Debby Hohler, 617-454-6741
dhohler@Upromise.com
or
Barclaycard US
Kevin Sullivan
ksullivan@barclaycardus.com

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