Members of NAIFA attend a conference in Texas. NAIFA and Sallie Mae have joined forces to offer free college planning tools.
Sallie Mae, one of the nation’s largest student loan companies, and the National Association of Insurance and Financial Advisors (NAIFA), one of the country’s largest professional organizations, have joined forces to offer a variety of college planning tools to members and clients.
The new partnership was recently announced via a press release issued on Sallie Mae’s website.
As agreed upon, the partnership between Sallie Mae and NAIFA will supply NAIFA’s network of 40,000 insurance and financial advisors with a plethora of college planning tools supplied by Sallie Mae.
NAIFA’s network of advisors spans the country, and the advisors will use Sallie Mae’s free college planning tools to assist their clients in making well-researched decisions when it comes to affording college.
Kevin Mayeux, the CEO of NAIFA, gave the following statement for Sallie Mae’s press release: “NAIFA is pleased to enter into a partnership with Sallie Mae to provide members access to additional tools and resources in this important area.”
According to Sallie Mae’s press release, most American families believe that higher education is indeed a worthy investment, but only 40 percent of families have a plan regarding how to afford college. Further, roughly 90 percent of families expect that their child will attend a higher education institution from as early on as pre-school.
For those families that lack a plan when it comes to paying for college, Sallie Mae and NAIFA hope that Sallie Mae’s free planning tools will assist them. One of the college planning tools being offered by Sallie Mae is Scholarship Search, where students are able to register for free, fill out a short profile, and receive information about scholarships that would be a good fit for them.
Sallie Mae’s Scholarship Search informs users about scholarship award amounts, application requirements, and the deadlines for specific scholarships.
Additionally, Sallie Mae’s free college planning tools include tips on filling out the Free Application for Federal Student Aid, how to analyze financial aid letters, and research from many of the industry’s leaders. The student loan company will also provide private student loan options for students looking to close up financing gaps.
Sallie Mae has been featured by The Student Loan Report a lot in recent weeks. Just last week, Sallie Mae Executive Vice President and CFO, Steve McGarry, gave his opinion on the student loan industry while speaking with an analyst at Barclays Capital at the Barclays Global Financial Services Conference. McGarry estimated a potential 5 percent increase in total money spent on college due to both the rise in enrollment and tuition.
In August, Sallie Mae was informed that they would be receiving a multi-million dollar grant from the state of Delaware to hire 285 new employees by 2020 and to renovate a 57,000 square-foot Delaware office that the company will use primarily as a call center. Funding from the grant will be drawn from Delaware’s taxpayer fund. Also in August, Sallie Mae was recognized for its support of employees that also serve in the military. The Above and Beyond Award was given to Sallie Mae on behalf of the Delaware Employer Support of the Guard and Reserve.
Image Copyright © Texas Comptroller