Sallie Mae Releases Environmental, Social, and Governance (ESG) Report
April 29 2024 - 11:38AM
Business Wire
Report Highlights Company's Continued
Commitment to Mission-Aligned Impact Supporting Customers,
Communities, Employees, and the Environment
Sallie Mae®, formally SLM Corporation, released its
Environmental, Social, and Governance (ESG) report. The annual
report highlights the company's commitment to mission-aligned
initiatives supporting its customers, communities, employees, and
the environment.
Specifically, the report shares progress on ESG initiatives in
2023 including:
- Supporting Higher Education Access and Completion: The
Sallie Mae Fund again partnered with Thurgood Marshall College Fund
to award $1 million in scholarships to help students from
underserved and underrepresented communities access and complete
higher education. Additionally, the company committed a $1 million
research grant to Delaware State University to help close the
college completion gap. The $1 million contribution will fund a
three-year pilot program to better understand barriers to college
completion and help students return to school and complete their
degrees.
- Advancing Social Justice and Giving Back to Communities:
The company also provided more than $158 million in new investments
to support low- and moderate-income housing in Utah – home to
Sallie Mae Bank. Furthermore, The Sallie Mae Fund awarded $690,000
in grants to advance social justice, including $200,000 to support
2023 HBCU Week College Fairs, attended by more than 15,000 students
who were offered $22 million in scholarships.
- Reducing Environmental Impact: Completed greenhouse gas
inventories for fiscal years 2022 and 2023 and signed a zero-waste
agreement with its waste management and recycling provider.
- Promoting Workforce: Introduced diversity-focused
programs, fostering a culture of belonging and professional
development. Also, provided competitive benefits including, 22,628
hours of primary parental leave and 3,593 hours of secondary
parental leave to its employees. For the third consecutive year,
the company was recognized as one of the 100 Best Adoption-Friendly
Workplaces by the Dave Thomas Foundation for Adoption and was also
named one of the Best Companies to Work for by U.S. News and World
Report.
“Our mission to power confidence as students begin their unique
journeys is deeply integrated in our ESG strategy and our
business,” said Jon Witter, CEO, Sallie Mae. “This mission-aligned
approach guides our efforts to make the most impact in supporting
students, families, our communities, our people, and the
environment. As I reflect on 2023, I am extremely proud of our
progress.”
Sallie Mae’s ESG report was prepared with reference to the 2021
Global Reporting Initiative (GRI) Standards, includes the
sustainability disclosure topics and metrics in the ISSB
Sustainability Accounting Standards Board (SASB) Consumer Finance
Standard, and shows how the company's initiatives contribute to the
United Nations (UN) Sustainable Development Goals. All data
reported relates to Sallie Mae’s calendar year 2023 unless
otherwise noted.
To learn more about Sallie Mae’s ESG efforts, visit
www.salliemae.com/ESG.
Sallie Mae (Nasdaq: SLM) believes education and life-long
learning, in all forms, help people achieve great things. As the
leader in private student lending, we provide financing and
know-how to support access to college and offer products and
resources to help customers make new goals and experiences, beyond
college, happen. 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.
Category: Community and Philanthropy
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Caron Jackson 302.304.3401 Caron.Jackson@SallieMae.com
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