Sallie Mae, Inc.: Loan Relief for Nursing and Education Students

Overview

When The Sallie Mae Fund came to Oregon looking for help on a new financial aid idea, the nation's largest student loan provider turned to CFM.

Challenge

The challenge was to build political credibility in Oregon for an innovative Sallie Mae program – forgiving part of the loan for any college student willing to stay in the state and work in nursing or education. Oregon was the first stop on the West Coast after Sallie Mae started the program in Maryland and Virginia.

Approach

CFM worked with Oregon Governor Ted Kulongoski’s administration to gain his endorsement for the new program. CFM helped design the rollout, announcing the loan relief program at a major news conference in 2005. And, CFM continues advising the company on selling the Sallie Mae program in public and private colleges and universities around the state

Result

Students benefited as they faced higher financial aid costs. State officials developed new options to encourage students to enter two fields where there are jobs waiting – education and nursing– and, the company gained a stronger foothold in Oregon, where it hopes to do business for years.