Kaplan and Sallie Mae to Provide Student Loans for Grad School Test Prep 

Access to online planning and paying for college resources expanded with partnership

New York (May 17, 2000) – Kaplan, the world leader in test preparation and admissions services, and Sallie Mae, the nation’s largest provider of student loans, have announced the launch of the Kaplan Student Loan Program, a program designed to help graduate-school-bound students finance Kaplan test preparation courses and tutoring. SLM Financial Corp., a subsidiary of Sallie Mae, will provide low-interest education loans for students enrolled in Kaplan’s in-center and online test preparation courses and tutoring.

"This program opens doors to students who might not otherwise be able to afford test prep," said John Polstein, president of Kaplan Test Prep and Admissions. "The Kaplan Student Loan Program combines our leadership in test preparation and Sallie Mae’s expertise in helping students finance their education, to provide educational opportunities for students nationwide."

Kaplan and Sallie Mae have further collaborated online, forming a content partnership between kaptest.com, Kaplan’s test prep and admissions Web site, and Wiredscholar.comSM, Sallie Mae’s new planning and paying for college Internet resource. Visitors to either site can access Kaptest.com’s extensive test preparation information and services, as well as Wiredscholar.com’s college evaluation, selection, application and financing content.

"Sallie Mae is committed to helping students throughout the country achieve a college education," said Tim Fitzpatrick, executive vice president of Sallie Mae. "We are thrilled to partner with Kaplan to help students gain access to important information and to pay for prep courses that will give them an edge in the admissions process."

Any Kaplan student who is a U.S. citizen or a permanent resident with a Social Security card is eligible for a Kaplan Student Loan. Students can receive loans for 100 percent of their Kaplan tuition through SLM Financial Corp. The loan repayment term and options vary for each student. Students can apply for the loans at their local Kaplan center or by calling 1-800-KAP-TEST.

Kaplan’s goal has always been to ensure that all students have access to important test preparation services for college and grad school entrance exams. For years, Kaplan’s community outreach division has been providing free or discounted college admissions services and financial aid advice to disadvantaged students. Such initiatives include:

The Kaplan Good Sports Scholars Program, which helps motivated lower-income high school athletes by providing college guidance.
The PUENTE Learning Center in East Los Angeles, California, which provides inner city youth and their parents with college admissions workshops and guided tours of college campuses in the area.
The A. Phillip Randolph High School Mentoring Program, which helps students prepare for college (including researching and selecting colleges, and writing application essays).
Kaplan has further broadened access to test preparation and admissions services through Kaptest.com, which enables students around the world to take advantage of Kaplan’s moderately-priced online products and services, and through kaptest.com’s strategic partnerships with education leaders like Sallie Mae. Kaptest.com is a one-stop-shop for college- and graduate-school-bound students. For college applicants, kaptest.com offers: an SAT exam prep course; a college admissions course; application essay review; AP test prep for five popular AP exams; and a range of free services such as financial aid advice, virtual college tours, customized college search engines and links to services for applying to college online. In the graduate and professional school market, kaptest.com offers test preparation for GMAT, GRE, LSAT, NCLEX-RN, CPA and USMLE exams online, as well as application essay review and a variety of free information and services.

About Sallie Mae

Sallie Mae (NYSE: SLM), founded 26 years ago, provides funds for educational loans, primarily federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP). The company currently owns or manages student loans for 5.3 million borrowers and also provides parents, students and educators with comprehensive information on the financial aid process. Through its specialized subsidiaries and divisions, Sallie Mae also provides an array of consumer credit loans, including those for life-long learning and K-12 education, and business and technical outsourcing services for colleges and universities. More information is available at www.salliemae.com.

Wiredscholar.com is an independent Sallie Mae brand that extends the company’s commitment to helping students achieve higher education. For more information, visit www.wiredscholar.com.

About Kaplan, Inc.

Kaplan, Inc. (kaplan.com) is a premier provider of educational and career services for individuals, schools and businesses. Its divisions include Test Preparation and Admissions (www.kaptest.com); SCORE! Learning Corporation, offering after-school programs for kids and resources for parents and kids through eSCORE (www.escore.com); educational training programs for adults (www.kaplanprofessional.com); and KaplanCollege.com, a distance learning division including on-site education and professional development at schools and universities, books and software, and professional education services. Kaplan is the majority shareholder in BrassRing Inc. (BrassRing.com), which combines recruiting, career development and hiring management services for employers and employees. Kaplan is a subsidiary of The Washington Post Company.

Press Contact: pubrel@kaplan.com, (212) 492-5965