Sallie Mae, a student loan provider, organizes a variety of scholarships for minority students through its Sallie Mae Fund. All scholarships are merit-based and need-based. Each type of scholarship has its own selection criteria, however. As of
April 2011, more than 6,350 students had received scholarships from the Sallie Mae fund beginning in 2001.
The Community College Transfer Scholarship
This scholarship is awarded to Latino students who wish to transfer from a community college to an approved higher education institution. The award is offered in conjunction with the Hispanic Scholarship Fund (HSF), and may be applied for on the HSF website. For the academic year starting in 2008, the scholarships were in the amount of $2,500 each.
First in My Family Scholarship Program
Like the Community College Transfer Scholarship, the First in My Family Scholarship is awarded to Latino students and may be applied for through the HSF. Eligible applicants must have a GPA of at least 3.0 on a 4.0 scale, and must be the first in their family to attend college or university. Awards are based on financial need, and ranged from $500 to $5,000 in 2009.
The Writers of Passage Scholarship Program
This award, amounting to $5,000 as of 2011, is given in partnership with the National Association for Equal Opportunity in Higher Education. Students must be attending either a historically black college or university, or a university with a predominantly African American student population. Selection is based on an essay-writing competition. In addition to the scholarship, the student's university receives a $20,000 grant from Sallie Mae, as of 2011.
The Unmet Need Scholarship
Students eligible for the Unmet Need Scholarship must come from families with incomes of $30,000 or less, and have student aid packages that are more than $1,000 short of total financial need. Total scholarship amounts ranged from $1,000 to $3,000 in the 2009 academic school year. Applicants must also have a minimum GPA of 2.5 and have already been accepted to study full time at the undergraduate level.
The American Dream Scholarship Program
This scholarship, whose awards ranged from $500 to $5,000 each for the 2009 academic year, is given to African American students who demonstrate financial need. The scholarship may be applied for via the United Negro College Fund (UNCF). Applicants who have a minimum grade point average of 2.5 on a 4.0 scale and who are eligible for a Pell Grant qualify for the American Dream Scholarship. Prospective applicants must plan to be enrolled full time at the undergraduate level.